A complete solution for your R&D tax relief claims
Novel is the easiest way for small and medium enterprises to manage their R&D projects and prepare their HMRC R&D tax relief claims. Use our smart forms to accurately apportion your work, seamlessly integrate with your payroll provider, record your company’s current research activities, search past project information at any time and follow along with our tutorials to create clear and compliant claims.
Let’s show you around?
R&D tax relief is claimed via a company’s Corporation Tax (CT) return. As the two are intrinsically tied, when you first sign up, the system will prompt you to add an organisation in order to proceed further. Integrated with Companies House, this process is quick and easy as you will be able to search for your organisation within seconds. When adding your organisation, you will be prompted to fill out your payment details. Once you’ve done that the organisation will appear in your profile with all the relevant periods you can claim R&D tax relief for and you will be able to use all the features of the system.
Follow the task list
Haven’t done an R&D claim before? Then we suggest you first visit the Task section in the left hand navigation. The Task section gives you a clear overview of everything on your plate so that you don’t lose track of any important tasks that are required for you to have a successful R&D tax relief claim. It will also show you a progress status of your R&D claim, with certain tasks being priorities over others giving you the confidence and peace of mind that everything is accounted for.
Build your narrative
The work you do is unique (otherwise it wouldn’t qualify for R&D tax relief, right?) so we aim to highlight that to HMRC. The technical narrative of your R&D claim gets generated when you begin adding Projects and Activities to your claim periods. Built-in eligibility checkers, tutorials and guiding questions will help gauge and guide you to ensure that you are putting in the relevant information. It will also give you a better understanding of how your company is managing their R&D activities.
Add some numbers
Often the scary part of writing an R&D tax relief claim is the financial information that is required. There are a number of apportionment regulations to keep in mind and it can be daunting but Novel takes care of that! The forms will automatically apportion your financial information to meet HMRC requirements and reduce the risk of there being a mistake in filling out the data.
Alternatively, if you rather not do this, the system is designed in a way where both you and your accountant can use and access the platform, just add them as the ‘Financial User’ and you’re set!
Finalise your claim
We don’t do hidden fees or charge anything on the benefit. This means that you don’t need to pay anything to download your report, giving you maximum flexibility to add and reiterate the information as much as you like. Once you’re happy with the report, you can finalise it and download it. Now you have a professional R&D tax relief claim ready to be added to your Corporation Tax return/amendment to HMRC.
Ready to try Novel?
Start your R&D tax relief claim process now with 3 months free on us.