R&D In Construction
Whilst construction may be seen as a traditionalist industry steeped in many tried and tested methods, there remains ample room for innovation where the advancement of science and technology through research and development have shown the abilities to overcome uncertainties.
A high level look at the figures suggests over 200 million pounds in Tax relief was claimed during 2018-19, that figure alone demonstrates the growth in R&D expenditure within the construction industry and furthermore highlights that not enough is being claimed by businesses in this industry. Could your business be eligible?
By way of a simple example of what could qualify ( but not limited too), a construction company found innovation where they used a particular steel in their projects but due to the new project there was a need to use thinner and lighter steel in a different climate and were able to formulate a new protective coating formula which allowed the project to continue without sacrificing quality.
We have seen a wide variety of construction companies benefit from the R&D Tax relief where costs associated but not necessarily limited to:
Staff | Subcontractors | Consumables | Software Used | Prototyping
Instead of guessing if your business is eligible, rather let Available Grants work with you to find out if there’s a potential claim. We work on a No-Win No-Fee basis, so let’s arrange an eligibility call with one of our R&D Tax specialists now.