What We Do
It’s time to take the hassle out of funding and get rewarded for your innovative projects.
Why do you need us?
As a UK company, you can access R&D tax relief and grants by yourself to accelerate growth. We don’t even mind sharing our advice on how to do this effectively. But the process is time consuming, resource heavy and requires an in-depth knowledge of UK tax law or grant terms and conditions. To save you time and stress, we can do it for you.
Our people give us our edge. The Novus team is home to ex-HMRC workers, PwC and Deloitte Alumni and industry-trained technical specialists. Not ones for gatekeeping, we want to share this value with you.
We believe the best results come from conversations. When we work with you, we learn a lot about your business in a short space of time. This gives us what we need to find the right funding opportunities through government funding such as R&D tax relief and grants before supporting you with equity finance.
We engage with you on a government funding project such as R&D tax or grants to look to provide a cash injection into your business.
We review your fundraising needs and evaluate what business funding options are right for you.
If you’re looking to raise equity finance, we will introduce you to investors that are tailored to your needs.
What is R&D tax relief?
The R&D tax relief scheme is a government incentive designed to help UK-based innovative companies who are focused on overcoming technically challenging projects. If this is you, you can potentially claim up to 33% of your expenditure back as a cash or non cash benefit.
Am I eligible?
Businesses that have projects that meet the R&D tax criteria can submit an R&D tax relief claim at the end of their accounting period. For a project to qualify, you must be looking to advance your respective industry while trying to overcome any scientific or technological uncertainties that can’t be worked out by a professional in the field. You must also have qualifying expenditure such as payroll, subcontractor or consumable expenses which are relevant to the R&D project.
How much can I claim?
There are currently two schemes you can claim under.
- If you are an SME (a company under 500 employees), you can claim between 18%-33% of your R&D expenditure.
- If you are a large company (over 500 employees), you can claim up to 15% of your R&D expenditure.
The percentages you can claim depend on your accounting period as R&D rates have changed for accounting periods after April 2023.
How do we help you?
Novus Capital is home to ex-HMRC inspectors which means we’re always up to date with legislative changes that will maximise your claim while staying compliant. Working with our experienced team, we make R&D tax straightforward. We only need 3-4 hours of your team’s time to prepare your R&D tax relief claims.
Choosing your R&D tax advisor is more important than ever.
For UK businesses, preparing compliant R&D tax relief claims is crucial due to HMRCs aggressive tactics in challenging claims of all sizes. As R&D tax relief rules have evolved, new challenges are now being presented.
If you’re already claiming R&D tax credits, you need to be aware of these changes and how they can affect you. We’ve highlighted some of these changes below:
- PAYE Threshold
- Reduction in SME R&D tax scheme
- Increase in RDEC R&D tax scheme
- Additional Information Form
- R&D intensive companies
- UK-based subcontractors/EPWs from 1 April 2024
If you’re already claiming R&D tax, you need to be aware of these changes and how they potentially effect you.
R&D Tax Team
What is a ‘grant’?
A grant is a competition where businesses can apply to be awarded money to invest into an innovative project. You can receive this money either in a lump sum or instalments, where in most cases public grants are ‘match-funded’.
What is ‘match-funding’?
Match-funding involves receiving a portion of the grant from the grant awarder (e.g. Innovate UK award grants up to 70% match-funded) and the awardee will need to fund the remaining amount.
How much can I be awarded?
With public grants, you can be awarded from £25,000 up to £2 million. The amounts vary for different grant competitions and different grant providers. Each grant needs to be individually checked in order to understand how much you could apply for.
Innovation Grants Team
Your top 5 current grant opportunities:
1. Innovate UK – Smart Grants
27th September deadline, open to all technology types.
2. Innovate UK – Future Economy Investor Partnerships SME
Round 3 30th August deadline with round 4 expected to open in September.
3. Eureka – Eurostars 3: Call 5
14th September deadline, run by Innovate UK. UK companies can collaborate with companies in participating countries across Eurostars. Maximum grant of €360,000 or 60% project costs (whichever is lower).
4. Innovate UK – Innovation in Professional & Financial Services
Round 2 27th September deadline with future rounds expected to open.
5. Innovate UK – Unlocking Potential Award 2023
6th September deadline.
Most applied for grants
Innovate UK – Smart Grants
Innovate UK – Future Economy Investor Partnerships SME
Innovate UK – Innovation Loans Future Economy
What is equity finance?
If your business needs funds to grow and you don’t want to take out a loan, this could be an option worth exploring. By selling a stake of your business in exchange for investment, you could get the funds you need as well as additional support from the investors. An equity investment is made on the basis that share value will increase, with investors receiving higher returns.
What types of equity investors are available to me?
- Angel Investors
- Venture Capitalists
- Corporate Venture Capital Funds
- Private Equity Investors
We engage with you on a government funding project such as an R&D tax relief claim or an innovation grant.
While we collate information and prepare your government funding project, we do due diligence on your business. This involves us looking at your product/service, your competitors, your management team and finances.
A small due diligence report is prepared that is tailored to your business.
We begin outreaching to investors that fit your due diligence report.
Once introductions have taken place, we would support you throughout negotiations of terms. A fee on the success of fundraising from one of our introductions will be charged.
Interested to find out more about our pricing? Head over to our fees page for a service cost breakdown.