R&D in Construction
With the UK population growing and the need for housing and workplaces becoming ever greater, the construction industry has never been more important. At the same time, the sector is faced with challenges like rising supply costs, and while health and safety legislation and environmental targets are driving a greener and safer construction sector, it all adds up to greater costs for construction SMEs.
Forward-thinking construction companies can claim back some of their R&D expenses, allowing them to continue their essential work.
What counts as R&D tax relief in the construction sector?
Construction is driven by efficiency and technological innovation, so there are all kinds of R&D approaches for which claims can be made. These include:
• Using new construction materials
• Implementing new automation-based construction methods
• Modifying and modernising building components within existing structures
How much R&D relief does the average construction SME claim?
Stats from HMRC show that the average claim for the 2020/21 tax year was £46,347. This already sizable figure is likely to be higher in future years, as the construction industry was among the hardest-hit sectors by Covid-19.
Let Available Grants manage your R&D tax relief claim
If your company is interested in assessing its eligibility, we are on hand to help.
Here at Available Grants, we assist the companies we serve in the construction sector to discover if they can claim R&D tax relief. We are dedicated to working via a no-win-no-fee basis, so why not arrange for a call with one of our R&D tax experts to assess your eligibility?
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