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Can Construction Industry suppliers claim for R&D Tax?

Date: 9th April 2013

You could be a manufacture of cladding or building materials which have unique properties. You have developed these and continue to improve their performance or ease of manufacture.

Maybe you design and manufacture tools or machinery used by trades people.

Perhaps you design and manufacture frames or doors or component parts used in the construction industry.

Whatever you do, here are the basic rules. If they apply to you, then you should get advice…

  • Are your products unique or innovative?
  • Do you continuously seek to improve their performance or manufacturability?
  • Do you employ staff to design, test or research improvements to your products or materials?
  • Have you invested in new, technically innovative, product designs in the last two years?
  • Do you take the risk in developing new products?
  • Think this applies to your business? Then check out your R&D Tax Credit eligibility.
  • It costs nothing to enquire and you could be leaving serious cash on the table.

Here’s what to do.

Call an R&D Tax Credit specialist. Most won’t expect to charge for this initial advice on whether you should claim. The better one’s will even estimate roughly what it’s worth to you.

If you’re eligible, then the specialist can prepare a Technical Justification for you and advise you on what to claim.

Competent R&D Tax specialists won’t waste your time (or theirs!) if you aren’t eligible; so nothing ventured, nothing gained. It”s worth the call.

What will it cost to claim?

Most R&D Tax specialists charge a success fee. You should expect to pay around 12.5% of what you receive as a rebate, corporation tax credit or relief. The good news is that your specialist will help you claim back for the two previous full years as well as for the current year.

Make sure that you use your own Accountant to submit the claim. Some R&D Tax firms try to up the fees by recommending their own Accountant. It’s just not necessary…

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