aisle 3 R&D Tax Relief Case Study

Read how R&D Tax Relief specialist GrantTree helped AI innovator aisle 3 secure more than £200,000 in R&D Tax Credits and £100,000 through our R&D Advance Funding service, enabling the company capitalise on its explosive growth.

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aisle 3 R&D Tax Relief Case Study

Read how R&D Tax Relief specialist GrantTree helped AI innovator aisle 3 secure more than £200,000 in R&D Tax Credits and £100,000 through our R&D Advance Funding service, enabling the company capitalise on its explosive growth.

Reinventing Retail

Browsing its colourful website, it’s easy to mistake aisle 3 for a traditional e-commerce platform focused on trainers. In reality, aisle 3 is a deep tech AI startup revolutionising the online retail experience with a sophisticated, AI-driven approach to product aggregation and checkout. Frustrated with the typical convoluted online journey of opening a myriad of tabs, CEO Thomas J. Vosper aims to reinvent retail during this cost-of-living crisis to save shoppers time and money.

Growing Complexity

aisle 3 filed its first R&D Tax Credits claim with another provider but leadership were disappointed by the quality of service and the fact they were unable to review the company's technical report before it was sent to HMRC. The company’s development had also become more complex, having grown to encompass company engineers, subcontractors, and a foreign subsidiary. Thomas decided it was time to bring in a more experienced consultant that could process these complexities into a compliant submission.

Time for a Change

As part of the London & Partners' cohort, Thomas met Kweku, GrantTree’s Head of Partnerships, at one of its founder events. After a follow-up conversation exploring our delivery process and expertise, Thomas decided GrantTree was the right consultant for the job and agreed a long-term contract. aisle 3 also acquired more than £100,000 through GrantTree’s R&D Advance Funding service - which lets companies access up to 80% of their R&D Tax Credit up to 9 months before their year-end - allowing it to capitalise on its explosive growth. “As we were confident of the compliance of our claim, we were able to take Advance Funding to accelerate our plans due to the significant customer growth we were seeing”, Thomas says.

GrantTree's Approach

After only one call with aisle 3’s CTO, GrantTree’s technical consultants, who have significant expertise in this field, gathered the information needed to produce the framework for the company’s technical report. 

All claims GrantTree works on are supported by a watertight technical report, which explains to HMRC why a company’s development work qualifies for R&D Tax CreditsTechnical reports are not mandatory for SME R&D Tax Relief claims (though they will be for claims filed after 1 August 2023). However, in our experience, submitting a technical report greatly reduces the chances of HMRC launching an enquiry and can lead to claims being paid out much faster. “I was nervous on timings, as many in my network had seen claims extend up to six months. However, we were delighted to secure funds in less than four weeks,” says Thomas 

GrantTree’s team also collected most of the necessary financial information from the company’s accountant rather than aisle 3’s internal finance team. We then correctly apportioned the costs associated with the company’s network of external and international developers and added them accurately to its claim. 

“The government’s R&D scheme is essential to innovative businesses like aisle 3,” says Thomas, “As an AI business, we felt it important that not only was our technical breakthrough recognised and supported, but that we were making legitimate claims to further develop the business innovation.”

Collecting the necessary technical information over a single call and working with the company’s accountants saved aisle 3’s leadership considerable time, freeing them to focus on the rapid growth of their business.

The Results

Funding Windfall

Secured more than £200,000 in R&D Tax Credits across two claims

Rapid Turnaround

The most recent claim was paid out in less than 30 days

Essential Loan

Accessed almost £100,000 through R&D Advance Funding

“From data collection to submission, GrantTree’s process was exceptional. Our funding was paid out extremely quickly, which clearly reflects both our innovative approach to using AI and how well GrantTree understood, managed and prepared our claim. The team's technical reports are so thorough that, apart from sending them to HMRC, I don’t let them out of the building. That’s how well they demonstrated what makes a3 so special and our groundbreaking achievements in AI development. They are experts in the field, and it shows.”
Thomas J. Vosper
CEO and Co-Founder

Expert support for your claim

Looking for help on your upcoming R&D Tax Credits claim? GrantTree’s specialists are standing by. Just leave us a message, and we’ll be right with you.