Construction companies could be missing out on thousands of £s of tax relief

Research & Development (R&D) tax credits are available to limited companies subject to UK corporation tax, yet take up of the relief is lacking amongst SME’s, particularly within the construction sector.

Construction companies often do not consider these claims applicable to them. However, due to the continuous innovation and bespoke solutions provided by the construction industry, many companies are eligible to claim for R&D tax credits.

Here are some of the most common, but often overlooked activities which may qualify:

• Development of bespoke machinery
• Composing/creating methods to accommodate unique design requirements
• Prototyping
• Developing materials that are more environmentally friendly or more cost effective

There is no doubt that an industry as innovative as construction should be making significantly more R&D claims.

At EQ Taxation, we have secured more than £11M of tax repayments for our clients, with repayments typically being issued by HMRC within 6 weeks of the claim being submitted.

If you would like to discuss R&D tax credits to see how much they could be worth to you, please contact our R&D Tax specialist Ross Oliphant on 01592 630055 or email ross.oliphant@eqaccountants.co.uk