Our team has recently secured £200,000 in Research and Development (R&D) tax relief for our client, a construction firm.
This was the first time that they had made an R&D tax claim. However, our advisors were able to claim not only for the current year, but for the previous year. This ensured they did not miss out on any relief that was available to them.
Our R&D advisor, Paul Woodward commented, “R&D tax claims are still one of the most attractive tax reliefs available to all types of businesses across the UK, but still many are missing out. I would urge firms to make the most of the reliefs they are entitled to, as they are quite often significant sums. We can quickly review if your work has the potential to be eligible for an R&D claim”.
How much could your claim be worth?
The value of your claim could include staff costs (wages, pensions and training), materials, utilities (electricity and heating), outsourced research and testing. It can also include sub-contractor costs.
Some common examples of the type of activities that might qualify in the construction sector include:
- Creating or testing new materials
- Installing new or improved technology into buildings
- Developing new, modified or improved equipment
- Developing energy saving techniques for buildings
- Solving technical problems during the construction process
- Work to comply with new regulatory rules e.g fire, H&S, noise etc
- Pre-fabrication techniques
Other areas to consider for your R&D tax claim include:
- Automation of order taking to improve stock control
- Developing new quality systems to meet ISO standards
- IT projects, e.g. software, cloud systems and website rebuilds
- Failed attempts to develop an existing product
- Adapting for a new market e.g. overseas or new industry
- Redesign of premises to drive efficiency
- Integrating new technology and existing systems
- Plus, many more examples
If you would like to discuss whether you might be eligible to make an R&D tax claim please contact our experienced R&D tax claims team today.