Fenestra
Expertise
LLM and AI Ad Technology Enablement
Industry
IT & Technology
Founded
2017
The Vision: Empowering marketers with data-driven innovation
Fenestra is a UK-based marketing technology company transforming how advertisers and marketers plan, optimise, and measure campaigns across multiple platforms. With a mission to bring transparency and efficiency to the advertising ecosystem, their platform uses cutting-edge technology to deliver measurable impact for their clients.
Fenestra has focused heavily on innovation to build its competitive edge. But like many fast-scaling tech businesses, it faced complex challenges when navigating the R&D tax relief process alone. That’s when Ayming stepped in.
The challenge: Locked in an 18-month enquiry
When we were first introduced to Fenestra, through one of our VC partners, they were already deep into an R&D enquiry with HMRC.
Their 2022 claim had been under review for over a year and a half, during which they had tried to manage the process internally. Despite having genuinely strong R&D activity, the way their claim had been presented left them stuck in back-and-forth negotiations with no resolution in sight.
This wasn’t about a lack of innovation; it was about how that innovation was being communicated. Even great R&D can fall short if it isn’t framed in a way HMRC understands. Fenestra’s claims were too product-centric and lacked the structured technical and financial narrative needed to move the enquiry forward.
HMRC Enquiry Defence
The process: Expert intervention and a structured approach
Ayming was brought in during October 2024, with the enquiry still unresolved. We immediately reviewed the existing claim, mapped the key areas of contention, and prepared a clear strategy for resolution. In January 2025, we held a call with HMRC, addressing the points of challenge with precision and confidence. By March 2025, the enquiry was fully resolved, and Fenestra received their full claim value.
But the impact didn’t stop there. As part of our engagement, we secured a contingency agreement to also manage their 2023 and 2024 claims. This allowed us to bring structure, compliance, and expert positioning to their future submissions. In total, we’ve supported three claims from October 2022 to March 2024, resulting in a sizeable total benefit.
Their R&D activities focused on optimising marketing campaigns across different companies, empowering advertisers and marketers through specialist technology. Once framed correctly, their claims reflected the true value of this work.
Our enquiry defence: Expertise that makes the difference
HMRC enquiries can be complex, time-consuming, and high-stakes. Ayming’s enquiry defence service is designed to resolve these situations swiftly and effectively. For Fenestra, this included:
Narrative Direction
Reviewing and strengthening the technical narrative behind the claim.
Tailored Support
Identifying and addressing the specific concerns raised by HMRC.
Managing Communication
Managing communication directly with HMRC to reduce burden on the client.
End-to-end Support
Leveraging deep knowledge of HMRC’s review process to navigate negotiations confidently.
This approach not only removed the financial and operational strain on Fenestra but restored confidence in their ability to access the incentives their innovation deserves.
total benefit received by our clients from HMRC
UK client retention rate
HMRC enquiry rate, vs an industry average of 20%
Our results and looking forward: From stuck to scalable
Within a matter of months, Ayming turned an 18-month deadlock into a successful resolution. Two claims were paid in full, and a third is already underway with a stronger, more robust process. The CEO, who initially didn’t see the value of using a specialist, has now actively introduced businesses in his network to us.
This collaboration highlights a crucial lesson; Even great R&D needs to be delivered in an effective way. It isn’t just what a company is undertaking – it’s how the claim is presented that determines its success.
By reframing Fenestra’s R&D narrative and expertly managing their enquiry, Ayming not only unlocked value but set a solid foundational relationship for future claims.
