The UK is steadily cementing its place as the global hotspot for fintech sector.
As reported by the Financial News, the latest initiative taken by the UK government, which aims to provide tax credits to projects which lead to substantial success in science or technology through the resolution of scientific or technological uncertainty, may eventually end up helping this sector even further.
For the fintech industry, this indeed could turn out to be an excellent opportunity to up its game and scope.
The Financial news report further also stated that the question which the industry must now think upon is which of its activities could fall under the purview of government stated rules and how it could benefit from them.
For its part, the news site also stated that the rules unequivocally say that the tax credits are available for those projects that “seek to achieve an advance in science or technology”, “through the resolution of scientific or technological uncertainties”.
Now, this indeed is a rather broad definition and could even turn out to be the game changer for the fintech industry.
The rules further also say that this does not merely mean that the manual work is given an electronic twist, but that it must