Our Services

Empowering businesses growth & innovation

We provide high standard professional assistance between businesses and the HMRC R&D Department for the duration of complex programmes and projects. To date, HMRC has enabled over £2bn in 2018 in R&D tax credits allowing companies to grow and achieve their goals.
 

Our team includes R&D technical specialists, R&D Consultants and all the necessary administration to secure R&D claims so your company can move forward in growth and success. We work with your finance teams and qualified accountants to capture qualifying expenditures that the UK government will recognise as a legitimate R&D project worthy of tax relief.

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Dedicated case management

No upfront fees

End to end services

R&D tax credits

Innovative tax people

Research and development (R&D) tax credits are a UK government tax relief that rewards companies who invest in innovation. Companies that develop new products, processes, or services, or enhance pre-existing ones are eligible for a cash payment and/or a Corporation Tax reduction. R&D Tax Credits can either complement or act as an alternative to innovation grants and are accessible to companies of all sizes and sectors
 

There are nearly 4.8 million companies in the UK. According to HMRC, Research and Development Tax Credits Statistics show less than 1% claims have been made by companies between 2000 – 2016.

 

£2.4 Billion

Claimed in 2018

£54k avg claim

Claim per client

Up to 33p for every £1

Spent by SMEs

Frequently asked questions

What qualifies as R&D?


R&D isn’t just about white lab coats and Bunsen Burners. If you’re thinking out outside the box for the growth of your company, then you probably are indirectly/directly contributing toward advancement in scientific or technological field for which the UK government wants to help. There are, of course, a few hurdles to jump before you qualify. The Department for Business, Innovation and Skills has a set of definitions for research activities, which you can see here, but key points include: -The R&D must involve your core business, or one you want to set up if it goes well. -The project must be pushing knowledge or capability forward as a whole, not just your own. -What you’re trying to achieve needn’t be tangible. Knowledge or cost improvements count. -Even if your project doesn’t work out, it may still qualify.




What is defined as ‘qualifying R&D’?


The detailed definition of what HMRC consider as ‘qualifying R&D’ is quite complex but in summary 3 key areas need to be addressed: -There should an advance in an area of science or technology within the project. -The advance should include an aspect of a technological uncertainty -The aspect of the technological uncertainty should not be readily available from a competent professional as a solution out of the box. Whilst the above requirements may seem onerous, many projects which required some degree of outside the routine day-to-day(business as usual) activity may potentially qualify.




What if my project was funded by a Grant or subsidised by a client?


It is possible to claim even if your project has been fully funded by a private Grant or if it has been subsidised or fully funded by an end client. There are different rules for SME / LARGE company claims but, such claims are possible.




I am a loss-making start-up – can I make a claim?


Under the R&D Tax credit legislation, it is still possible to make a claim even if you are loss making and not paying corporation tax. In such cases, you can receive a cash rebate or carry forward losses to be used against future profits. Whether you are profitable or loss making the process is the same. At the end of the process, we will make recommendations whether taking a cash rebate and/or tax saving / carry forward losses will be most beneficial.




I am part of a group / UK company with an overseas parent company – is my company allowed to make a claim?


If your limited company is a Tax Paying Entity in the UK, you can still claim. If your work relates to other companies within your group, it may still be possible to make a claim.




Our project was completed a while ago.


HMRC will allow any company to make a claim for the last two financial year ends. We can go back as far as 2 years from your current year.




How do you get paid?


We work on a contingency basis – taking a percentage of the cash rebate/taxation saving at the point the claim is approved by HMRC. If a claim was unsuccessful and did not result in a cash rebate/corporation tax saving, then no fee would be payable.




Fees – R&D Tax Credits


We do not charge set up fees, filing fees or termination of contract fees. Fees are contingent on a successful claim – computed as a percentage of the tax refund – as claims grow, the fee rate reduces.





 

© Novus Tax ltd. All rights reserved 2019

Company registered in England and Wales reg no: 11961103
Westbourne Studios, 242 Acklam Rd, Portobello, London W10 5JJ

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