Even if your company has qualifying expenditure, it does not mean that you should just wing it when submitting your own R&D Claims – especially when submitting a large claim. Throughout this […]
The Construction industry is predicted to be worth 236.8 billion between 2020 and 2024. Therefore, it is a massive aspect of R&D.
The construction sector can be broken down into a few different categories – these include, private sector housing, infrastructure, industrial and commercial, public sector housing and more.
From these categories, there are then endless specialist companies such as builders, fitters, trades, engineers, manufacturers and other suppliers.
Although awareness of the R&D scheme has increased, there is still lots of misunderstanding surrounding it. Most companies believe that it can only be claimed by people who do science in a laboratory. HMRC don’t make it very clear as to what can be claimed and how. This is so that the scheme can be relevant to any industry and not strictly ones which are lab based. There are lots of different ways that qualifying activities can be undertaken by the construction sector – this could be during both the design and prototyping processes while projects are being implemented on site.
What should you ensure before claiming?
Examples of R&D within the Construction sector
Work out how much your claim could be worth with our easy to use R&D tax credits calculator. Remember we can claim up to two years so make sure you don’t miss out on your innovation fund.
Want to know more? Contact our team today and see how much your claim could be worth!