Merged R&D scheme- how to prepare for it

As the UK landscape of R&D tax relief undergoes significant changes with the introduction of the merged R&D tax relief scheme effective from 1 April 2024, it may be the perfect time to re-evaluate your past approach to R&D claim preparation. Transform how you manage the merged R&D tax relief scheme and the changes in legislation that followed it.

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What is Novel?

Novel is a software solution that is changing the way accountants and consultants handle R&D tax relief claims in the UK. Our software simplifies the process of preparing R&D tax relief claims by offering features, such as real-time tracking, detailed documentation, user-friendly project selection, and built-in formulas and calculators. No matter if you're adjusting to the scheme's changes, looking to increase claim accuracy, or building stronger advisor-client relationships, Novel can help.

Why switch to using Novel?

We've built tools to help you better manage the merged R&D tax relief scheme

Novel no lock in contracts
Adapt seamlessly to new legislation
With changes impacting both SMEs and large companies alike, ensuring compliance with the merged scheme's requirements can be daunting. Novel simplifies this transition, offering a consolidated platform to manage legislative nuances across different accounting periods effortlessly.
Novel has built-in calculators and aggregators to help its users
Simplify complex calculations
Currently there are many different rates that a consultants must be aware of. Novel acts as a dynamic calculator, adjusting numerical values based on specific filters like accounting year ends, ensuring the correct rates are applied when you are working on a claim.
Novel provides informative dashboards and reports
Real-Time Tracking & Documentation
HMRC's emphasis on record-keeping and real-time tracking underscores the importance of having a designated software for R&D tax relief claims. Novel's platform is built with this in mind, featuring an Activity Timeline within Projects to facilitate ongoing documentation, ensuring you are prepared if a compliance check or enquiry happens.
Novel in app support
Continued feature releases
The team at Novel priorities feature developed based on two things, legislative requirements (not much we can do to escape this) and our users preferences. We always welcome feedback and invite users to discuss what they believe is lacking from the platform, which we will then priorities in building for the benefit of the whole community.
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Manage all your R&D claims in a single platform

Seamlessly oversee all your clients' R&D tax relief claims from a single, centralised platform. Plus, stay on top of your workflow with valuable data, such as financial year ends, historical claim period and current status, all presented to you through our intuitive design. Additionally, always know what is left to do in a claim with Novel's tasks tracking system, which will alert you to any outstanding tasks.

Why not have a look for yourself?

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