An agile platform to adapt to changing regulations. A team of R&D tax claim and sector specialist: ex-HMRC, ATT qualified, AML trained, AML registered and supervised by HMRC.
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Penfold
Aidan Curran, Chief of Staff
Penfold is an award-winning digital pension designed to empower people to take control of their future by managing their savings and growing their wealth.
Industry
Pensions Technology
5 compliant claims
Claims completed with EmpowerRDPenfold’s Challenges Before and After EmpowerRD
Since their first claim in 2019, Penfold has benefited from EmpowerRD’s efficient and expert R&D tax credit services. The combination of a user-friendly platform and specialised in-house support has ensured their claims are optimised and HMRC compliant, allowing Penfold to focus on simplifying pensions and empowering savers.
“Whilst the platform was a real asset for us, the best thing was the support we received. We always had a client success manager on the other end. If we had any questions or concerns, we could use the chatbot, and our client success manager was there to help. It was a breeze; really good support throughout.” Aiden Cullen, Chief of Staff
| Challenges Before EmpowerRD | After EmpowerRD |
|---|---|
| Struggling to find a suitable partner ✘ Throughout their research for their first claim in 2019, Penfold sought a provider that reflected their innovative and disruptive approach to fintech but struggled to find a suitable partner. |
Aligned with innovation ✔ EmpowerRD’s modern approach and innovative platform matched Penfold’s disruptive mission, providing a partner that understands and reflects its values. |
| Need for speed and efficiency ✘ As a fast-growing fintech company, Penfold needed a partner that could match their pace and provide quick, efficient R&D tax credit services, without losing out on quality. |
Fast and efficient process ✔ EmpowerRD’s user-friendly platform and expert R&D tax team ensured swift and efficient handling of Penfold’s R&D tax credit claims, maintaining pace with the company’s rapid growth while ensuring compliance. |
| Lack of collaborative tools ✘ Managing R&D tax credit claims was cumbersome without a streamlined, collaborative platform, making it difficult to track progress and pull together necessary information. |
Streamlined collaboration ✔ The easy-to-use platform, combined with expert support, facilitated seamless collaboration. Features like the claim dashboard allowed Penfold to track progress and manage costs effortlessly. |
| Compliance and transparency ✘ Ensuring compliance while maintaining transparency and ease of use was a significant challenge for traditional advisors, who often lacked these attributes. |
Compliance and transparency ensured ✔ EmpowerRD provided a transparent, compliant service with the help of their R&D specialists, simplifying the claim process and giving Penfold confidence and control over their R&D tax credits. |
R&D Activity
When Penfold started in 2019, its mission was to help the 80% of self-employed individuals who were not saving into a pension. The goal was to create a straightforward yet flexible pension solution for the self-employed.
Three years later, they’ve expanded their offering to provide a modern pension to businesses and employed savers. They have 100s of workplace clients and over 75,000 users.
To achieve this, Penfold has created a modern purpose-built pension platform that meets savers’ expectations today and breaks away from the legacy systems and processes that traditional pension providers deliver.
At its core, Penfold seeks to simplify pensions by developing their intuitive platform to further encourage transparency and clarity. Thus allowing savers to have more control over their pension plans.
Claim History
In 2019, Penfold wanted to collaborate with an R&D tax credit advisor aligned with their beliefs and methods. Consequently, they conducted a thorough search for a partner to help them make the most of their claim.
Penfold was instantly drawn to EmpowerRD because it had a similar goal – To make their respective industries accessible to everyone and offer a transparent service that puts clients in charge of their own journey.
‘At Penfold, we’re trying to create a pension solution that removes complexity and confusion for our customers. After speaking with EmpowerRD and seeing their platform, we knew we’d found a partner doing the same in their respective space,’ explains Aidan Curran, Chief of Staff.
'At Penfold, we're trying to create a pension solution that removes complexity and confusion for our customers. After speaking with EmpowerRD and seeing their platform, we knew we'd found a partner doing the same in their respective space'
Working with EmpowerRD
Penfold has completed 5 successful claims with EmpowerRD and continues to benefit from our software platform and R&D tax specialists.
‘The platform is easy to use; it’s intuitive and transparent. On my side, it was especially easy to pull together the costs. The claim dashboard was a great asset, allowing us to easily track progress and the amount we’ll be getting back,’ Aidan explains.
He adds, ‘Whilst the platform was a real asset for us, the best thing was the support we received. We always had a client success manager on the other end. If we had any questions or concerns, we could use the chatbot, and our client success manager was there to help. It was a breeze; really good support throughout.’
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Our clients say
"The online platform made it much easier to co-ordinate between the finance and technical teams."
“EmpowerRD is doing R&D claims the way everyone should be doing it. They absolutely exceeded our expectations and are now one of our long term partners.”
“I was looking for a specialist with a rigorous platform that could handle a complex R&D tax credit claim, because of our grant. EmpowerRD came up on top.”
“Whilst the platform was a real asset for us, the best thing was the support we received. We always had a client success manager on the other end. If we had any questions or concerns, we could use the chatbot, and our client success manager was there to help. It was a breeze; really good support throughout.”
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