Construction companies may not always be aware they can qualify for R&D tax credits – or if they are, they might be unsure how to go about making a claim.
R&D Tax Credits for Construction Businesses
The benefit of successfully applying for research and development tax credits in the construction industry is that your company could be thousands of pounds better off, boosting the level of capital you could reinvest into the business.
At randd, we have a proven and lengthy history of securing tax relief for our construction clients, offering a bespoke and tailored service that enables us to maximise your claim.
What projects qualify for R&D tax credits in the construction industry?
One aspect of R&D tax credits for construction businesses that can cause confusion is the range of projects considered eligible for inclusion within a claim.
Some examples of the type of projects that can qualify are:
- Adapting equipment or processes to meet new regulatory requirements e.g. fire, health & safety, sound and thermal
- Creating and deploying new mechanical and electrical systems into buildings
- Creating, or experimenting with, new materials for use in construction or engineering projects
- Developing new or improved equipment for use in construction
- Developing new scientific knowledge within geotechnical or environmental studies
- Developing new or improved technology into existing buildings
- Modifying existing components and fittings into projects
The reasons why the innovation is being attempted do not have to be technical in nature, but if the solution being sought involves technical or scientific challenges then the expenditure incurred may qualify for R&D tax credits.
What activities qualify for R&D tax credits in construction?
- Bespoke solutions to a building project
- New building techniques
- Trial and error for new materials previously untested in a construction environment
- Improving properties through energy efficiency, fire safety, plumbing etc
- Overcoming safety standards and industry regulations
- Developing new and innovative approaches to property and construction buildings
- Improving safety
- Overcoming site or conservational issues
- Developing or using new or “greener” products
- Innovative logistical problem solving
Construction businesses we’ve helped to claim R&D tax credits
An external building restoration company’s claim of £68,000 through randd brought their total up to £205,000 in R&D tax credits over three years.
The company’s dedicated team offer a full design and consultation service for architects, surveyors and project managers. They have their own research and development facility which includes a state-of-the-art in-house furnace used to braze aluminium.
Research and development is vital for conserving traditional aesthetics whilst complying with the latest building standards and regulations. The company’s proactive R&D programme integrates new materials and manufacturing technologies whilst maintaining traditional and aesthetically pleasing architectural features. Bespoke solutions through intense testing and problem-solving require carrying out eligible activities for R&D tax credits.
Expert support claiming R&D tax credits for construction companies
Need any help regarding construction R&D tax credits? We are available to answer any questions you may have about how to proceed with your claim.
Call randd on 01332 409 711 and we will be happy to assist you. We have a proven track record of claiming back thousands of pounds in tax for clients in the construction industry.
