The 3D Technology industry is a rapidly growing sector that is transforming the way we live, work, and play.
Our client, based in London, was researching a 3D imagery company that specialises in creating high-quality 3D visualisations for various industries such as architecture, product design, and advertising. The company has been in business for nearly 10 years and has 15 employees.
Immediately Goldhill Consulting took an interest, as the company’s R&D activities involved developing new software and tools to enhance the accuracy and realism of their 3D visualisations. They also work on developing new techniques for capturing and processing data from various sources to create 3D models.
How We Helped
What we discovered was the development of a new algorithm to enhance the company’s 3D modelling capabilities. The algorithm used machine learning techniques to improve the accuracy of 3D models created from photographs. This clearly qualified for R&D Tax Relief, allowing Goldhill Consulting to make a claim.
The claim resulted in a tax relief of over £150,000, which was a significant boost to the company’s cash flow. Our work with this client highlights the value of R&D tax relief for businesses involved in developing new software tools and algorithms. With Goldhill Consulting, the tax relief provided a much-needed boost to the company’s finances, enabling them to invest further in R&D activities and remain competitive in their industry.