FinTech and Payment Technologies

BC&A Innovation

R&D Spotlight

The UK is recognised as one of the world’s leading hubs for financial technology (FinTech), with companies pioneering new ways to manage money, make payments, and deliver financial services. From digital banking and payment processing to blockchain-based solutions and regulatory compliance technologies (RegTech), FinTech companies face ongoing technical challenges that require constant innovation.

R&D tax relief is designed to support UK companies pushing scientific or technological boundaries by overcoming technical uncertainties. In the FinTech and payment technology sectors, this could involve developing new algorithms, improving transaction security, or integrating complex financial systems where no ready-made solution exists.

Here are some examples of qualifying activities in FinTech and payment technology development:

Developing New Payment Processing Systems

Engineering platforms that handle high volumes of real-time transactions, improve settlement speeds, or support multi-currency or cross-border payments while ensuring compliance with UK financial regulations.

Enhancing Transaction Security and Fraud Prevention

Developing new encryption techniques, authentication methods, or fraud detection algorithms that go beyond existing standards to protect sensitive financial data and prevent unauthorised transactions.

Building Scalable Financial Platforms

Overcoming challenges in scaling software platforms to handle growing user bases, transaction volumes, or regulatory requirements while maintaining performance and reliability.

Integrating FinTech Solutions with Legacy Banking Systems

Developing solutions to connect modern financial technologies with older financial infrastructure, particularly when overcoming data compatibility or system reliability issues.

Improving User Experience and Accessibility

Creating innovative user interfaces or mobile experiences that improve customer onboarding, payment authorisation, or financial management for a diverse user base.

Developing Blockchain or Distributed Ledger Solutions

Researching and implementing blockchain technologies for secure payment processing, identity verification, or supply chain finance, particularly when addressing scalability, speed, or compliance challenges.

Advancing AI and Machine Learning in FinTech

Developing AI-driven tools for financial forecasting, credit scoring, risk assessment, or personalised customer recommendations, especially when existing models don’t meet specific market needs.

Meeting UK Financial Regulations and Compliance Requirements

Engineering solutions that help businesses comply with UK regulations such as PSD2 (Payment Services Directive), Strong Customer Authentication (SCA), or FCA guidelines, particularly when this requires technical innovation.

If your FinTech or payment technology business is developing new products, improving performance, or solving technical problems that go beyond established solutions, you could be eligible for R&D tax relief. This incentive helps UK financial innovators recover part of their development costs, supporting the continued growth of the UK’s world-leading FinTech sector.

Our Process

What to expect when working with
BC&A Innovation

1. Discovery Call

Book your FREE 15 minute discovery call today to discuss your R&D activity and we'll guide you on best next steps and estimated claim value.

2. Information gathering

Our technical experts and industry specialists will work with you to uncover all areas of work activity eligible under the R&D scheme, ensuring we have everything we need to support a robust, defensible and maximised claim.

3. Create R&D Tax Claim

Our technical experts will write your claim and supporting documents with a clear assessment of your eligible activity and costs, ensuring compliance with the scheme's governance throughout.

4. Approval & Submission

We'll share, for your approval, the claim draft and supporting documentation. We'll explain in detail how we have arrived at our assessment of your claimable activity, costs and claim value. When you're happy, your claim can be submitted as part of your standard end-of-year processes.

5. Liaising with HMRC

Should HMRC require any further information or have queries regarding your claim, we'll liaise with them to ensure speedy payment without any reduction in claim value.

6. Payment

Once your payment is received, we'll send it across the same working day and advise you on processes that can be put in place to make future claims even more hassle-free. Don't worry about claims going forward, we'll be in regular contact to remind you what is needed and when.

About BC&A Innovation

We've helped hundreds of businesses like yours secure millions in Research & Development tax relief

Our team recognises the importance of R&D in advancing UK businesses, big and small, and we understand the time burden, resources and complexities of claiming tax relief for that R&D. These constraints often leave companies failing to get the tax relief they’re entitled to or underclaiming significantly due to unclear, often confusing guidelines about what constitutes R&D. As experts in R&D tax relief, we’re here to unblur the lines and create robust, defensible and maximised claims on your behalf.

We’re experienced tax professionals, accountants and technical experts with a deep understanding of the R&D tax relief regulations. We’ve worked in many of the industries we now serve and are ideally placed to understand your business’ R&D Activities. As part of HMRC’s panel on R&D, we stay up-to-date with the latest developments in the guidance, to provide our clients with the most accurate and up-to-date advice.

At BC&A Innovation we take the burden of claim generation away from the business so you can do what you do best, while we do what we do best. We pride ourselves on our integrity, professionalism and commitment to our clients.

Not sure if you qualify for R&D tax relief? Book a FREE discovery call today.

Many of the businesses we work with were unsure if they qualified for R&D tax relief at first. A few had even been told by other agencies that they could not claim. Yet, with our help they were able to correctly identify eligible R&D projects and claim back vital funds.

As experts in HMRC’s definitions of Research & Development, we’ll be able to tell you if you should make a claim or not. We’re success fee based, which means it isn’t in our interest or yours to take forward claims that won’t pass HMRC’s stringent checks. If we say it’s worth doing, you can take that to the bank.

Ready for a discovery call? Think of it as a no-obligation chat where we can discuss the work you’ve undertaken and identify tax-saving opportunities. Our expert consultants are keen to speak with you.