R&D Tax Credits for
Construction activity and R&D Tax Relief.
Research and development is all about seeking advances, overcoming challenges and resolving uncertainty. In construction projects, all of these things commonly arise - whether its unforeseen setbacks, unexpected inspiration, supply chain delays, etc.
Qualifying construction expenditure for R&D Tax Credits.
Innovating, or trialling, novel materials for construction projects.
Integrating new or improved technology into existing buildings.
Adapting existing equipment or construction processes to adhere to new regulations - such as fire safety.
Introducing and deploying innovative mechanical and electrical systems into construction projects.
Modifying existing construction components and fittings.
Developing new or advanced equipment for use in current or future construction projects.
FAQs: Construction R&D Tax Credits.
How much can construction companies claim under R&D Tax Credits?
R&D Tax Credits allow profit-making companies to receive a tax benefit of up to 25% of qualifying R&D costs. But if you're loss-making, you're entitled to reclaim up to 33% of qualifying R&D costs as cash!
Can my company claim R&D Tax Relief if the construction project is unfinished?
Absolutely! Construction, in particular, has a lengthy timeline. Fortunately, businesses can claim R and D Tax Relief throughout the entire process, from start to finish. From the first year that you incur R&D spending, you can claim R&D Tax Credits.
Can I claim R&D tax relief on construction subcontractors?
Yes, costs for consultants and contractors anywhere in the world can be claimed.* Under the SME R&D Tax Credits scheme, you can reclaim 65% of the costs paid to any unconnected subcontractor working on eligible construction projects.
*As of April 2023, you can only claim subcontractor costs from construction occurring within the UK.
Trusted by construction companies.
R&D Tax Credits, explained.
What are R&D Tax Credits?
The Government implemented the Research and Development (R&D) Tax Credit Scheme to help fuel innovation in the UK, by rewarding companies bringing new products, processes or services to market.
How do R&D Tax Credits work?
Companies that spend money developing new products, processes or services - or enhancing existing ones - are eligible to claim R&D Tax Credits. If you're spending money on innovation, you can file for R&D tax relief and receive it either a cash payment or a Corporation Tax reduction from HMRC.
Is my construction business eligible for R&D tax relief?
To make an R&D Tax Credit claim, you must meet the following criteria:
Be a UK limited company that is subject to Corporation Tax
Have carried out qualifying research and development activities
Have spent money on these activities
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