Company Sector: AI, Digital & Data
Funding Secured: ~£90k
Web3 Labs provides the foundations to build on, and work with blockchain technology by bridging the gap between established enterprise and blockchain technology. To progress the maturity of blockchain technology Web3 Labs invested significantly in the research and development of their technology to help the industry evolve through the creation of software for individuals and organisations to work with.
R&D Tax Credits can be claimed annually in arrears once accounts have been submitted, through the submission of a financial and technical report pertaining to the R&D activity. This report is submitted to HRMC for assessment. Too often companies (and their accountants) are unaware that they qualify for this generous tax allowance and miss out on the opportunity.
The Granted team developed a comprehensive R&D Tax credit claim which was accepted by HMRC and their claim for ~£90k was processed within 6 weeks of submission. Having been successful in securing their claim Web3 Labs will be able to explore further into the research and development of their industry-leading technology.