Helping businesses secure and maximise R&D tax credits and grants

Testimonials

CitySwift Ltd

It's always good to work with experts in an area. It is good to work with a team who are dedicated to their field and knows the law, the claims process and pitfalls and who knows how to draft the tech reports at speed. I can't really complain about how the R&D claim was done. We’re very, very happy

Conor Quaine
Head of Finance, CitySwift Ltd

CitySwift, based in Galway Ireland, is an Irish-based software company that uses a cloud-native, specialist data engine to assist modern bus networks.

Operational information is combined with a vast array of big data sources to develop rich datasets that are unique to each bus network and location. Machine learning models are trained on this data to deliver highly accurate predictions.

The CitySwift bus data engine currently powers three products:

  • SwiftMetrics that delivers bus network analysis at scale;
  • SwiftSchedule that rapidly generates optimised bus timetables;
  • SwiftConnect that enables the sharing of accurate bus capacity predictions on a stop-by-stop basis, helping passengers make the right journey choices.

City swift have been claiming R&D Tax Credits since 2019.

Company: CitySwift Ltd
Sector: Software Industry
Eligible R&D Project Value: N/A
Location: Galway, Ireland
Number of Employees: <40
Website: CitySwift

The opportunity

Head of Finance at CitySwift, Conor Quaine approached Myriad via our website contact form following a recommendation from their investors. They were looking for R&D tax advisors who could help maximise their claim and make the claiming process as smooth as possible.

Conor said “From reading government guidelines, it’s quite clear there is quite a bit of red tape in terms of what will qualify as R&D and what won’t, how you record it, ensuring you have all the paperwork etc. in place for a claim. From a resource perspective,   it makes sense to have an experienced external party complete the paperwork in a timely fashion Otherwise, I’d have to spend a lot of my time preparing the paperwork, instead of focusing on completing value added tasks for the business. So, we had to make a trade-off as to what's the best way to spend our time and we felt using advisors was the best route to go.”

The process

Conor was full of praise for the team who handled their R&D claim from start to finish: “I think it was very good. Lauren was very helpful & knowledgeable as well. We had an initial call and from that she was able to assimilate the information provided to her, break it down and understand it quite quickly. That's kind of what you want, someone to be able to pick up how something works quite quickly, and be able to take the time away from the tech guys, because they obviously don’t want to be spending time doing it.“

“Following just the one meeting with Lauren, she was able to produce the technical report off the back of that. We also worked with Chris, who was very good. He took a lot of the pain out of it for me. Obviously, there was a bit of back and forth in terms of provision of the information but to be fair, the process was smooth. I didn't really have to worry about any of it at all, which was great. If we had any questions, the team were all very helpful and fast and I'd say almost no time was really wasted, which was good, as we were keen to process our claim quickly.”

The reward

After submitting the claim, CitySwift received their R&D tax credits within a few weeks and were very happy with the amount they received.

“It was probably a little bit more than we expected actually. I was just focused solely on maybe the payroll costs, but there was obviously some of the additional consultants costs, and there was a light and heat apportionment and things like that. So that was a nice surprise. It's always good to work with experts in an area.  It is good to work with a team who are dedicated to their field and knows the law, the claims process and pitfalls and who knows how to draft the tech reports  at speed I can't really complain about how the R&D claim was done. We’re very, very happy.”

To learn more about our consultancy service for R&D tax credits, simply click here and we’ll call you back to discuss your project. Our team of advisors are knowledgeable, professional, friendly, and will help you understand our claims process and how we can help.

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