R&D Tax Credits For The Fintech Sector
Get the sector experience you need to make a successful R&D tax relief claim
QLC helps fintech companies accelerate their R&D claims with our streamlined portal and expert team.
Our fintech sector experience
With years of experience in R&D tax relief for the fintech industry, QLC understands the unique challenges of your sector.
Whether you're developing innovative payment solutions, enhancing data security, or leveraging AI to optimise financial services, we’ve supported fintech companies of all sizes in claiming millions through R&D tax credits.
Trust QLC to help your business unlock the benefits you deserve.
Success stories
What Our Clients Say About Us
"I am really impressed with the efficiency of your work, and the results you got for our company. A very friendly, committed and obviously hardworking team. You made the whole process very easy."
Will Tompkins (Director)
Vintage and Classic Cars
"QLC successfully claimed credits for the past 2 financial years, this year was even better. They managed the application and claimed the R&D credit prior to our annual tax bill, making the whole process quicker, easier and more efficient than last year."
Andrew Forbes (Director)
Architecture
"A massive thanks to all your team, obviously with the current situation, this money couldn’t have come at a better time."
Ian Cooke (Director)
Engineering
"From our experience we have always found QLC to be efficient and thorough in their tax appraisals, carefully guiding us through the often complex process. They have a very approachable team, all of which have been able to offer excellent advice when needed."
Ben Reed (Director)
Architecture
"They are proactive and efficient in performing their service and I have been impressed by their dynamism."
Chris Wright (Director)
Motorsport Engineering
"Your company did exactly what you said it would do. It took far less time than the other company that we had used in the past. We are extremely pleased with the outcome."
Adrian Smith (Company Sec)
Manufacturing Firm
"I am really impressed with the efficiency of your work, and the results you got for our company. A very friendly, committed and obviously hardworking team. You made the whole process very easy."
Will Tompkins (Director)
Vintage and Classic Cars
"QLC successfully claimed credits for the past 2 financial years, this year was even better. They managed the application and claimed the R&D credit prior to our annual tax bill, making the whole process quicker, easier and more efficient than last year."
Andrew Forbes (Director)
Architecture
"A massive thanks to all your team, obviously with the current situation, this money couldn’t have come at a better time."
Ian Cooke (Director)
Engineering
"From our experience we have always found QLC to be efficient and thorough in their tax appraisals, carefully guiding us through the often complex process. They have a very approachable team, all of which have been able to offer excellent advice when needed."
Ben Reed (Director)
Architecture
"They are proactive and efficient in performing their service and I have been impressed by their dynamism."
Chris Wright (Director)
Motorsport Engineering
"Your company did exactly what you said it would do. It took far less time than the other company that we had used in the past. We are extremely pleased with the outcome."
Adrian Smith (Company Sec)
Manufacturing Firm
How much could you claim?
The average R&D tax claim for SMEs
For your own quick estimate, you can use our easy-to-use R&D tax calculator:
£ 55 k
Common R&D activities in the fintech sector
Software development
Software development
Developing innovative financial platforms, such as payment gateways or trading systems.APIs
Building custom APIs for integration with third-party systems.Blockchain
Designing blockchain solutions for secure and transparent transactions.DeFi
Developing decentralised finance (DeFi) platforms.Algorithms
Creating algorithms for real-time data analysis and decision-making..
Data security and compliance
Encryption
Developing encryption methods to secure financial data.Security
Building identity verification systems, including biometric authentication.Fraud
Designing fraud detection and prevention algorithms.Compliance
Implementing systems to ensure compliance with regulatory standards such as GDPR, PCI DSS, or MiFID II.International
Creating tools for cross-border data compliance and financial reporting.
Artificial intelligence and machine learning
Designing AI models for predictive analytics in financial markets.
Developing machine learning algorithms for credit scoring.
Creating tools for automated trading and portfolio management.
Building chatbots for customer support with natural language processing (NLP).
Using AI to enhance anti-money laundering (AML) and know-your-customer (KYC) processes.
Blockchain and cryptocurrency
Developing platforms for cryptocurrency trading or wallet management.
Creating blockchain-based smart contracts for secure transactions.
Researching and testing new consensus algorithms to improve blockchain efficiency.
Implementing solutions for tokenisation of assets.
Exploring blockchain interoperability with legacy financial systems.
Process optimisation
Automating complex back-office operations like reconciliation or settlement processes.
Improving efficiency in payment processing systems.
Streamlining lending and underwriting processes with advanced algorithms.
Enhancing transaction speeds for high-frequency trading systems.
Optimising infrastructure for handling large-scale financial data in real time.
User experience and interfaces
Developing advanced dashboards for real-time financial insights.
Enhancing user interfaces for financial apps to improve accessibility.
Building personalised customer experiences using AI-driven recommendations.
Testing and implementing solutions for multilingual interfaces.
Creating mobile-first financial applications for seamless usability.
Sustainability and green fintech
Tools
Developing tools for tracking and reporting on sustainable investments.Energy
Implementing energy-efficient algorithms for blockchain and other processes.Carbon
Creating platforms for carbon trading and green finance.Financial products
Innovating financial products that support renewable energy financing.Cloud energy
Exploring methods to optimise cloud energy consumption for fintech operations.Big data and analytics
Designing systems to collect and process massive datasets securely.
Developing predictive models for market trends or customer behaviour.
Creating tools for real-time financial risk assessment.
Implementing new methods for data visualisation and reporting.
Enhancing data storage and retrieval systems for scalability and performance.
Cloud computing and infrastructure
Cloud platforms
Developing scalable cloud platforms for financial applications.Security
Enhancing cloud security measures to meet stringent regulatory requirements.Multi-cloud
Creating multi-cloud strategies for improved resilience and performance.Servers
Designing serverless architectures for cost-efficient fintech solutions.Edge computing
Integrating edge computing to reduce latency for time-sensitive financial operations.Emerging technologies
Researching the use of quantum computing for cryptographic enhancements.
Exploring augmented and virtual reality (AR/VR) for financial planning tools.
Designing tools for tokenised ecosystems in the metaverse.
Investigating the potential of Internet of Things (IoT) in financial transactions.
Experimenting with 5G networks to enhance transaction speeds and connectivity.
Customer onboarding and personalisation
Digital onboarding
Creating seamless digital onboarding processes for new customers.Advice
Developing tools for personalised financial advice.Gamification
Implementing gamified features to improve customer engagement.Loyalty schemes
Enhancing loyalty programs with AI-driven analytics.Creditworthiness
Building tools to assess and improve customer creditworthiness.Why choose QLC?
QLC and our portal help businesses like yours claim R&D tax credits and tax relief faster and more successfully than ever.
End-to-end service
Easy-to-use customer portal
Faster payouts than our competitors
See your money in 16 days
Flexible comms
All sectors and sizes
No minimum fee
Stakeholder transparency
Fintech sector R&D tax credit FAQ
What fintech activities qualify for R&D tax credits?
Fintech activities that typically qualify include:
- Developing innovative payment systems or trading platforms.
- Building blockchain-based solutions.
- Creating machine learning algorithms for fraud detection or credit scoring.
- Designing tools to ensure regulatory compliance (RegTech).
The key is demonstrating that these projects solve technical uncertainties or advance technology.
Do financial services firms qualify for R&D tax credits?
Yes, fintech and financial services firms can claim R&D tax credits if they engage in activities that meet the R&D definition, such as advancing financial technology, improving efficiency, or addressing technical challenges.
Do compliance-related projects qualify for R&D tax credits?
Yes, projects that address technical challenges in meeting regulatory standards, such as developing new encryption methods or automated compliance tools, often qualify.
Can we claim tax credits for failed or incomplete projects?
Yes, claims can include projects that faced technical challenges but didn’t succeed. HMRC recognises that failure or abandonment is a natural part of R&D, provided the efforts were aimed at overcoming uncertainty or advancing technology.
What costs are eligible for R&D tax credits in the fintech sector?
Eligible costs include:
- Staff salaries for R&D-related roles.
- Software licenses for development and testing tools.
- Subcontractor costs (65% of the eligible amount).
- Consumables like cloud hosting directly related to R&D.
- Prototyping and testing expenses.
Can we claim for cloud hosting costs?
Yes, if the hosting is directly related to R&D activities, such as testing prototypes or running machine learning models. Routine operational hosting costs are not eligible.
Are costs for regulatory compliance tools eligible?
Yes, provided the tools involve overcoming technical challenges, such as automating complex reporting requirements or ensuring real-time compliance.
Can we claim for R&D conducted by subcontractors?
Yes, fintech companies can claim 65% of the qualifying subcontractor costs, provided the work involves R&D activities.
Are SaaS subscription fees eligible for R&D tax credits?
Generally, SaaS costs are not eligible unless the software is used directly for qualifying R&D activities.
Do we need to prove innovation beyond the fintech sector?
No, the innovation only needs to be an appreciable advancement for your company, not the entire industry.
What happens if we’ve received government grants?
If government grants are involved, fintech companies may need to claim under the RDEC scheme instead of the SME scheme. The benefit is typically lower, but it’s still worth pursuing.
Do cybersecurity projects in fintech qualify for R&D tax credits?
Absolutely. Developing innovative methods for encryption, fraud detection, or secure identity verification often involves R&D.
Does migrating to new financial systems or platforms qualify as R&D?
Only if the migration involves overcoming technical challenges, such as compatibility issues or optimising performance.