Claimer, a London-based startup that stimulates it easy for companies to claim R& D levy credits in the U.K ., has raised PS300, 000 in grain funding.
Backing the previously revenue-generating company is Ben Holmes( who was previously at Index Ventures ), Nick Telson and Andrew Webster( the founders of DesignMyNight, which recently exited ), Rupert Loman( the founding fathers of Gamer Network ), and TrueSight Ventures.
Founded by Adam McCann in January 2018 and then launched in April 2019, Claimer rationalizes the process of claiming R& D taxation credits, which is a U.K. authority give popular with tech startups that is designed to encourage innovation. The startup claims its concoction is approximately 10 x faster and up to 6x cheaper than using a tariff consultant.
” Claimer is setting the R& D tax relief space with tech ,” McCann tells me.” If you’re not very well known the arrangement, it’s run by HMRC and allows U.K. businesses to claim back up to 33% of their investigate& development costs as a currency pay in any industry, such as software and hardware development, manufacturing, textiles, biotechnology, foodtech, and many others .”
” Most auditors don’t have the in-house expertise to process declarations, so they denote clients to R& D taxation experts. For many companies, the process is slow, expensive, and frustrating, because these specialists accuse very high rewards, often making weeks to process argues .”
In contrast, McCann says Claimer’s platform fixes it easy for companies to reliably terminated their R& D relief claims without any prior tax learning. After you upload a claim to the platform, which includes the ability to pull counts from your accounting application, Claimer’s in-house tax experts check and optimise it before it is submitted to HMRC.
” We’ve handled asserts arraying from PS1, 000 to over PS2 million with a 100% success rates( i.e. no rejections or reductions ). Our purchasers have also awarded us 5 virtuosoes on TrustPilot ,” he adds.
To that tip, Claimer’s success is aligned with that of its patrons. The startup bills a cost of 5% or lower levels of the saving/ credit received via R& D excise credits, covered to PS10, 000. McCann says this is much less than the normal uncapped 20 -3 0% generally blamed by experts,” often with undesirable terms such as multi-year lock-in contracts, concealed payments, and large minimum fees “.
Meanwhile, Claimer plans to use the seed funding to grow its engineering squad and build edition two of such products, which McCann says will utilise open data and machine learning, seeing it was feasible for claims to be created automatically.
” And yes, we’ll be claiming R& D duty approvals with a view to developing our R& D levy recognitions stage ,” epigrams the Claimer founder.
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