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.