Construction R&D Tax Credits
The construction industry is one of the most important to the UK economy. The sector contributes around 8% of the country’s GDP. However, construction companies seem to lag behind other sectors when it comes to claiming the R&D tax credits they are entitled to. In fact, construction projects account for only 4% of the tax credits claims received by HMRC. This may be because of the perception that R&D has to take place in a lab. But this is not the case. Anything that brings new knowledge or expands existing knowledge can be eligible for R&D tax credits. And that is where RandD Tax comes in. We will be able to identify if you are eligible to claim for R & D in construction. Construction tax credits can help fund new products or processes. This will help your business continue to grow and develop. R&D tax credits can cover many things, including:
- Staff costs
- Software costs
Can I claim construction R&D tax credits?
Any project that involves developing new products or processes - or improving what is already in place - can be eligible for construction tax credits.
To claim for R & D in construction, your business must be:
- A limited company, subject to corporation tax
- Involved in research and development
- Spending money on R&D
Your credit can take the form of either a direct cash payment or a reduction in corporation tax. If you aren’t sure if your project is eligible, then you should contact us.
We will be able to identify if you can make a claim, what scheme you should claim under and how much you can expect to receive.
RandD Tax operates on a no win, no fee basis, so you can make your claim at no risk to you.
How to claim construction R&D tax credits
The expert team at RandD Tax will guide you through the whole claims process, from confirming your project is eligible all the way to your final payment.
We will be available to answer any questions you have while your claim is processing.
Contact us today to begin your claim for construction R&D tax credits.
Get in touch today regarding construction R&D tax credits