Navigating the world of R&D tax incentives can seem overwhelming, but clearing up common misconceptions could unlock vital financial support for your business. Let’s bust some of the most wide spread myths and show how R&D tax credits can fuel your company’s growth.

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Myth 1: “It’s too hard to apply.”

Many businesses think the R&D tax incentive application process is too complicated to be worth the hassle. While it involves detailed documentation and dealing with two government agencies, it’s much more manageable with the proper guidance.

We guide you every step of the way, ensuring your application goes smoothly. As Barnaby Marshall from New Ground Coffee (NGC) shares, "Swell’s team made the whole R&D tax process feel like a breeze. They knew exactly what needed to be done and handled all the tricky stuff with the IRD, so we didn’t have to." Swell can help simplify what seems daunting and become a streamlined process so you don’t miss out on critical funding.

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Myth 2: “I don’t qualify, I’m too…” 

There’s a misconception that R&D tax incentives are reserved for businesses sending rockets into space or tech-tech businesses with multi-million-dollar R&D budgets, but that’s far from the truth.

Take Easy Crypto, a tech company, as an example. With Swell’s guidance, they successfully accessed R&D tax credits. COO Anna Walmsley recalls, "We knew there were opportunities out there, but figuring out the details felt like navigating a maze. Swell’s guidance unlocked financial resources we didn’t even know we had access to."

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Myth 3: “R&D tax incentives aren’t worth it.”

Some businesses think R&D tax credits don’t offer enough return to make it worthwhile, but in New Zealand, you can claim 15% back on eligible R&D expenses. This can make a big difference to your cash flow. For businesses like New Ground Coffee, Swell helped them secure $150,000 in R&D tax credits, which provided a crucial boost to keep their innovative New Ground Tech moving forward.

These tax incentives are designed to help businesses reinvest in innovation, and even those operating at a loss can benefit—providing a springboard for long-term growth.

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Who is eligible for R&D tax incentives?

To be eligible for the RDTI, you must be doing more than just developing a new product, service or knowledge. You must be trying to overcome a particular scientific or technological problem that you’re not sure can be resolved. Swell can help assess your R&D efforts to ensure they meet the criteria.

See our eligibility page and get in touch here to find out more.

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How Swell Can Help 

Navigating the R&D tax incentive process can be tricky, but Swell has a proven track record of helping businesses succeed. From identifying eligible R&D activities and gathering the right supporting documentation to liaising with Callaghan Innovation & Inland Revenue, we ensure nothing is overlooked. As Anna from Easy Crypto puts it, "Swell didn’t just help us find funding—they empowered us to keep pushing the boundaries of what’s possible."

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The Impact on Business Innovation and Growth

By unlocking R&D tax credits, businesses can reinvest in their projects and drive future innovation. These incentives provide a financial incentive and the confidence to take on new challenges and grow. With Swell’s support, companies like Easy Crypto and New Ground Coffee have turned financial obstacles into growth opportunities.

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In Summary

Don’t let myths stop you from tapping into the benefits of R&D tax incentives. Whether you’re a small or large business, the RDTI is within reach—and with Swell by your side, the process becomes straightforward. These incentives are game-changers, offering you the resources to innovate, grow, and thrive.