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R&D incentives for Financial Services

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Page Hero - R&D Sector - Finance - Bank of England

Technology has disrupted just about every industry over the last decade and financial services is no exception. Insurance and investment management, as much as retail banking, were already heavily reliant on information technology but the advances now being made in innovation are disrupting and transforming the sector even further. These innovations are likely to be considered R&D for tax purposes and mean that companies qualify for R&D tax relief.

We’re FS experts who really understand your business

We’re not just tax & accounting professionals…we have a team of financial services specialists who understand understand your business. Their experience means they can have peer to peer conversations with your team to understand your projects to identify all eligible expenditure for your R&D tax claims.

Our innovative systems help to set Numis apart from the crowd and enable us to offer unique services to our clients. Whilst we view this development as an essential part of our day to day operations, Ayming UK is able to understand the advances we have made in the terms of HMRC’s R&D Tax Relief scheme. As a result we have been able to secure significant financial benefits in the form of tax relief.
Simon Bailey, Head of IT & Operations, Numis Securities Tweet this quote

What counts as R&D?

If your business is involved with any of the following areas then, if you’re not already claiming R&D tax relief, then it’s likely you should be. We have plenty of clients in the sector who already are.

  • Devising mathematical models to simulate asset management processes and back-testing model validity based on benchmark returns
  • Extracting models to predict inflation or rates evolution from time series
  • Development of a real time stock exchange data processing system
  • Multimodal identification methods respecting users’ privacy
  • Innovative algorithms to allow trading operations to comply with new stock exchange regulations
  • B2B platform based on a new language
  • New payment protocols between a web server and a terminal
  • Development of new actuarial and financial software systems offering significant additional functionalities over existing versions
  • Development of algorithms for fraud detection and prevention

Why choose Ayming?

  • We’ll optimise your claim value, having increased clients’ historic claims by as much as 6 times
  • We’ll do the legwork and streamline your processes to ensure minimum impact on your team’s time and resources
  • We’ll ensure that your claims are low-risk and robust, safeguarding against any enquiries from HMRC
  • We’ve claimed over £300m of R&D tax credits for our UK clients to date
  • We have a specialist financial services team which understands your business to identify qualifying projects
  • We have a 100% claim acceptance rate, with a claim value acceptance rate of over 98%
  • Over 15,000 R&D projects analysed worldwide every year