If you are a small or medium-sized business, you know how difficult it can be to put together all of the data you need to get the most out of tax law. There are tons of credits available to you, but you must know what qualifies so you can avoid a costly and time-consuming IRS audit. You can pay a tax professional to constantly monitor your activities to look for things like R&D tax credits, but that might cost the company more than what it will get back in credits. Now there's REV by Leyton to help you out.
Are you looking for a better way to claim your business' tax credits? REV by Leyton is the perfect solution! This innovative digital platform was created by tax experts to make claiming tax credits simpler and faster than ever before. With REV, you can get the help you need to grow your business and take advantage of valuable tax credits that would otherwise be too complicated, costly, or time-consuming to claim on your own.
The REV team understands the complicated tax code and knows how to help businesses like yours get the most out of their credits. Their early access window is currently serving businesses who qualify for the Payroll R&D Tax Credit, but their full launch product will serve multiple types of tax credits. REV by Leyton makes claiming your business' tax credits easier than ever.
Claiming your business' tax credits doesn't have to be difficult. REV by Leyton is a digital platform that makes it simple and straightforward to get the help you need. With the platform, you can easily find out if you qualify for any valuable tax credits and then claim them with ease.
The REV team will work with you every step of the way to ensure that you get the most out of their platform. They understand the complicated tax code and know-how to help businesses take advantage of all of the credits available to them.
The REV by Leyton platform is for small and medium-sized businesses who want to get the most out of their tax credits. The team at REV understands the complicated tax code and knows how to help businesses claim valuable credits that would otherwise be too difficult or costly to obtain on their own.
If you are a business owner who wants to simplify the process of claiming your tax credits, REV by Leyton is the perfect solution. With this innovative digital platform, you can easily find out if you qualify for any valuable credits and then claim them with ease.
REV by Leyton currently serves just R&D tax credits and is available in early access. The company plans to expand to other types of credits when the product launches officially. Head to the website to learn more or sign up for early access.
Interview by Todd Cochrane of Geek News Central.
Scott is a developer who has worked on projects of varying sizes, including all of the PLUGHITZ Corporation properties. He is also known in the gaming world for his time supporting the rhythm game community, through DDRLover and hosting tournaments throughout the Tampa Bay Area. Currently, when he is not working on software projects or hosting F5 Live: Refreshing Technology, Scott can often be found returning to his high school days working with the Foundation for Inspiration and Recognition of Science and Technology (FIRST), mentoring teams and helping with ROBOTICON Tampa Bay. He has also helped found a student software learning group, the ASCII Warriors, currently housed at AMRoC Fab Lab.
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All right, our next guest is here, and I want to welcome the Leyton Group. Is that who you're with?
Yeah, exactly, Leyton group. My name is Antoine. I'm the managing director of Leyton Sweden. You probably know Leyton, because we're the world leader regarding R&D tax relief and all kinds of grant subsidies that can help companies to basically develop and invest in R&D.
All right. So tell me about what you guys are doing here at the show and what the goals are, and guess how things are going.
Things are going very well. We are here because we made a competition for startups all over Europe to bring like three different startups mainly, started the work with sustainability, because Leyton is I mean, really sure about sustainability. And we are also here to release one or all our last services, which is a platform called Rev that will help companies from all sides to manage their R&D tax relief claim, securely, and also in an automatic way, because we also have a huge IT team that work and developed this platform to all the company to stay focused on their core business. While we take care of this R&D tax relief, that's all of them to once more finance their R&D.
Are you mostly based with companies out of Europe then? Or where's are you? Do you operate globally?
Everywhere.
Everywhere?
Yeah, we're more than 12 countries. Of course, in the US, Boston, San Francisco, but also in Canada. But I'm also coming from, like I say, from Sweden.
Sure.
The headquarter is in France, we have huge subsidiaries in Spain, in the UK, Germany.
And all those countries, the tax laws are all different.
Yes, of course. But there's like, a lot of similarities because we mainly all have the same definition of what is R&D. And when it comes to you to tax, R&D tax relief. It's mainly a technical issue, not a tax issue because you have to prove that what you're doing is R&D for tax reports. And so that's why we have, I mean, we were more than 2,000 employees, and most of them are technical person, because they have like a Ph.D., or they are engineer in order to understand and to make sure that our clients can claim centrally the tax reliefs.
So you know, this is something I don't think I have much background on. Yeah, but how much is being spent and then just as an example, on R&D alone, that's getting tax relief. Do you have any idea?
Yeah. It really depends on the state, US. And also in Europe, depending but it can go from, I would say from 15% relief, up to 30%.
Wow.
Yeah, it's, it's quite-
It's big.
Yeah.
And it's all, I understand why there's a need for you guys because it could be very subjective, a taxed person may not know.
Exactly. So that's why also the platform that we just released, Rev, will help the company to do, like I say, claim circularly. So that's why also our consultant, when they draft the technical report, the draft they have to show to the tax administration, that it's R&D, that they have to explain it in a simple way. For to be sure that the auditor will be able to understand that it is R&D.
Right, right.
The aim is to find a good balance between technical and also to be simple just to be sure that the auditor will understand everything.
Yeah, you know, I have a tech company that I own, that has a full line of developers and we have a real hard time determining. Okay, We know this is the development we're going to do. This is what we're going to build. But oftentimes we'll say, Okay, we have an idea and do that research, but it ends up being development too. So You know, where's the dividing line when it comes to getting that type of tax relief? That's a good question. Right? Yes, that's a very good question. Indeed. So that's why when we work with a company, we first do an assessment of your research and development, just to be sure that you comply with the law. And to the, I will say, the R&D tax definition. And then we tell you if what you're doing is R&D, because that's true, especially when it comes to software or IT. Everything is development. Yeah. Everything.
So what is development, basically. So that's why we usually speak of experimental development. So that means we need to show that there is a link with some kind of research. That doesn't mean that it should be your research, but at least you should show that there is a link of research. So that's why the aim is basically to show to the tax administration that any competitive professional will face exactly the same issues if they want to develop. If this is the case, then it's probably R&D.
I think that's for a company like mine, it's pretty small, we're only 23. But still, the amount of money I spend on development every year is a big line item. And if I could get a portion of that reduce that was actually R&D. That could be very advantageous. That's a difference between a big or a small tax bill sometimes.
Yeah, yeah, I agree. And like we like to say in Leyton, we don't care about the size, we only care about the R&D. So you can be small, and spending a lot of money.
Right.
In R&D, but you can also be big and spending no money on R&D.
That's true.
What is important is, we know that usually one is decreased, one is difficult. The first thing that we got is R&D. Why? Because R&D, if it's real R&D, it doesn't bring money before at least six months, or one or two years. So that's why we want to help the company to take secretly benefit of this kind of relief or all kinds of grants subsidies that you can have to finance your R&D. Because we also know that most of the company today are working with R&D to be more also more sustainable to make it like a better world.
Yup.
And so that's what we want also to help them. So no matter what size are the companies, we're here to help.
Sometimes I feel like, you throw a spitball up on the wall, you know, and if it sticks, and it turns into something, and it makes you money, you've done good, but sometimes the spitball falls off the wall, and you throw it away. So you know, that sometimes is more business risks than actually Research and Development. So there's probably, again, a fine line there as well, too, right?
Yep. That's right. What's more, it's what we're here for. Yeah, to help you to draw the line.
To draw that line and say, Hey, this is actually R&D. This was business development that didn't work.
Exactly.
And you can't deduct this. But you can do that.
Basically, what you're saying, you have to make a difference between what is Research and Development and what is Innovation, because innovation is usually an innovation regarding the market. When we talk about R&D, it's basically acquiring knowledge related to the state of art, and depending on the states, on the countries, it can be a bit different.
Now, can research be considered as abstract as just customer studies to determine?
No. A customer study is not research.
It's not research.
It's research, but not research and development.
So it has to be both. Has to have both.
If you have to keep in mind, something is that it's, one, its research and development is acquiring knowledge, it can be. Once more. Depending on the state, it can be acquiring knowledge for the company, but it can be acquiring knowledge for the state of art. So you are going beyond the available state of the art.
Gotcha. Very interesting. Where can folks find out more information about Leyton?
You can go on our website, of course, www.leyton.com. If you're in the US, slash the US, of course. And of course, we have a booth. You can just come by and say hello, and we'll be happy to introduce you to one of our team.
Most of our folks that are watching today are off-site. So they'll definitely be checking out your website.
Right.
And seeing what you guys are doing. You know, here's a topic, Chris, that I didn't even know there was a company out there to help you navigate R&D.
Yeah.
I didn't know.
Yeah, that is a huge, huge hurdle for anybody with ideas wanting to do stuff because like he's saying you literally have to invest that time and being able to find somebody who wants to finance.
Well. You're also spending real money.
Yeah.
To do that. And if you can get a tax break. You know, some money. It's huge. Hey, thank you so much for being on. We appreciate you coming over.
Exactly.
My pleasure.
All right, outstanding.
Thank you.
Thank you so much.
TPN CES 2022 coverage is executive produced by Michele Mendez. Technical Directors are Kurt Corless and Adam Barker. Associate producers are Nancy Ertz and Maurice McCoy. Interviews are edited by Jo Mini. Hosts are Marlo Anderson, Todd Cochrane, Scott Ertz, Christopher Jordan, Daniele Mendez, and Allante Sparks. Las Vegas studio provided by HC Productions. Remote studio provided by PLUGHITZ Productions. This has been Tech Podcasts Network Production, copyright 2022.
