How Dragon Argent helped Sphere a tech based company claim R&D tax relief

7 Oct

About Sphere

Sphere Research Ltd is a web development company based in the UK. They are passionate about making the internet a more human experience for its human users.

Website: www.sphere.co.uk

Primary Industry: Software

“Dragon Argent have provided seamless R&D services to Sphere for our 2019 and 2020 accounting periods, assisting us in receiving over £450k in cash rebates. They charge only 5% of the rebate as a fee, which appears to be very cost-efficient compared to other entities offering such a comprehensive “all-in-one” service. They run the whole project from start to finish, carrying out the detailed calculation as well as the supporting technical narrative, and all related documentation and filings. They complete this in a way which minimises input time from ourselves which we find very valuable, generally only requiring an hour or so on a call so that they can fully understand the development project. We will certainly continue to engage Dragon Argent for R&D services in the future.”

David Parker | Chief Technical Officer at Sphere

Sphere provider of a human interaction web based platform designed to facilitate virtual reality experience for toy industry. Sphere is eligible for SME R&D tax relief but wanted to ensure it was claiming correctly. To do so, it needed specialist support to make a few strategic adjustments.

Dragon Argent’s specialist advisory team worked closely with Sphere’s finance team to set up a sense-checked SME R&D tax credit claim mitigating any risks.

Our analysis of their position meant Sphere could claim the more valuable SME R&D tax credit with confidence instead of the less valuable RDEC incentive. Sphere received £450k in cash rebate for the year 2019 & 2020 which helped them to re invest on the future product development.