Leading Multi-Line Insurer Increases SR&ED Claim by 300%.

By rethinking the way they were claiming their SR&ED tax credits, we helped our client achieve even more than what was expected, by increasing their claim returns by 300%. This insurance provider client used to claim IT in the past, but those claims were diminishing as their IT development was diminishing, finally resulting in no claims for a given year.

Moving away from only claiming IT, Ayming introduced a different approach to SR&ED: claiming the actuarial development (in applied mathematics). Following the introduction of this approach, Ayming then helped the client become accepted into the FPAP (Formal Pre-Approval Process) program– only a dozen companies in Canada were selected for this program. This program is a real-time review/audit of the SR&ED claim where claims are submitted every quarter and auditors review the entire file each time, making sure the projects are on track.

The SR&ED claim increased by 300% over previous years, with the help of Ayming’s expertise and guidance.

Ayming’s innovative approach demonstrated our strong expertise in SR&ED. Following their acceptance into the PCR program, the client’s claim was selected for audit. With Ayming’s help, the claim was not only accepted, but the client received 120% of the original claim. The client has received at least 100% of its claim every year since working with Ayming, resulting in a 300% increase in the amount received of the years. Ayming has also helped the client improve its reporting, allowing for better SR&ED planning SR&ED and data tracking.