R&D Tax Relief For The Construction Industry

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R&D Tax Relief For The Construction Industry

Invest In Innovation. Secure R&D Tax Relief

R&D (research and development) tax relief is a government incentive created to reward businesses for their investment in innovation. An example of this is when a company has designed and developed a new process that improves a traditional one. For R&D in construction, this may be seen where products or methods have been modified to increase efficiency or sustainability for a project. If you have overcome uncertainty, technological or scientific, then you may be eligible to claim for your solution that overcame the barrier.

New Construction Tax Credits For Your Business

The construction industry is rapidly growing, and along with this comes advancements and improved ways of working. Your business may have produced new materials for a specific project, built innovative equipment, or adapted systems already used. Many are unaware that they have even completed qualifying projects for the scheme, meaning you could already undertake an R&D activity that could earn you a large sum of money.

The construction sector comes under a diverse range of businesses including commercial and home construction, mining, manufacturing and supply of products, civil engineering, work in demolition and the installation of power systems. All of these areas across the UK have successfully researched and developed methods that have reached successful claims in tax relief over recent years.

How Can I Claim My R&D Tax Credits?

Pursuing your R&D tax credit claim with Veritas Noble couldn’t be easier. Our small friendly team takes the jargon out of the process and provides all of our customers with speedy services to ensure busy business owners can stay on track. Once approved, you can receive your claim through cash payment/credit card, a rebate on the amount of taxes already paid, or a corporation tax reduction. The incentive is available as both an SME scheme or for larger businesses, so there is nothing stopping any sized company from receiving their relief.

People are often concerned about the costs surrounding the claiming process, however, we operate on a no-win-no-fee basis, meaning it costs you nothing to find out your eligibility. With the average claim reaching around £54,000 for R&D projects by construction companies, what’s stopping you? We have a 100% track record and experience working with clients from a variety of sectors, and could win you a substantial amount of money to help grow your business and invest further in innovation projects.

Reward Yourself With R&D Tax Relief Today

The estimated total amount of R&D tax relief support claimed for the year ending March 2020 is £7.4 billion, an increase of 19% from the previous year. With our help, you could be a part of this huge stat and get the credit you deserve for your efforts in advancing the construction industry. The costs that can be claimed for qualifying R&D include staff fees, subcontractor costs, trials & prototypes, and research and consumable materials used throughout the project.

Our team of funding specialists have successfully claimed over £4 million in R&D credits for a range of happy clients, working with businesses just like yours to secure your first R&D tax relief claim. You can get in touch about your funding needs by contacting our email address at info@veritasnoble.co.uk or giving us a call on 01327 317561.

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