R&D incentives for Financial Services

With significant advancements in technology and artificial intelligence, research and development within the financial services sector is at an all-time high. Innovation within this sector has led to the rise of financial technology (sometimes called ‘FinTech’) such as crypto-currencies, digital banks and new financial investment apps. Claiming R&D tax relief within the financial services sector gives your company a helping hand when it’s needed the most.

Financial services experts who really understand your business

At Ayming, our team of financial services specialists are tax & accounting professionals who can really understand your business. Our experience means we can provide peer to peer conversations with your team to learn about your projects and 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

What counts as research and development in financial services?

You may be eligible for R&D tax relief if your business is involved with any of the following areas

• Devising mathematical models to simulate asset management processes and back-testing model validity based on benchmark returns.
• Extracting models from time series to predict inflation or evolution of rates.
• Development of a real time stock exchange data processing system.
• Multimodal identification methods respecting user 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?

When you choose Ayming, you’re choosing the UK’s R&D market leader for the financial services sector. To date, we have claimed over £900m of R&D tax credits for clients across the UK.

We make sure that we:

• Optimise your claim value, having increased clients’ historic claims by as much as 6 times.
• Do the legwork and streamline your processes.
• Minimise the impact on your team’s time and resources.
• Safeguard against HMRC enquiries by ensuring your claims are low-risk and robust.

What’s more, every year we analyse more than 15,000 research and development projects worldwide.