Your construction company may be eligible for a tax credit or cash rebate of up to 33% of your development expenses through the Research and Development Tax Credit program.
Construction projects often face numerous complications that are considered routine or common, requiring non-standard technical solutions to achieve successful outcomes.
The UK government is encouraging the construction industry to be more cost-effective, efficient, and environmentally conscious, despite the complexity of construction projects, which often involve unexpected issues, delays, budget constraints, and material shortages. While we tend to focus on the aesthetic aspects or hidden technical advancements of construction, R&D actually arises from solving these challenges.
The R&D tax credit scheme aims to reward efforts made towards overcoming these obstacles by reducing a company’s corporation tax liability. Surprisingly, HMRC data shows that less than 5% of claims for R&D tax relief come from the construction industry, despite generating over £118 billion annually.
Our observations suggest that this low participation is due to a lack of knowledge about the scheme and a perception of R&D projects as routine work.
We suggest evaluating your project against the following three criteria to determine if it meets the requirements for R&D classification in the eyes of HMRC:
Our expert team of sector specialists, construction professionals, accountants, and former HMRC tax inspectors are uniquely equipped to uncover R&D expenditure in construction projects that other advisers may miss.
Our process has been tailored for the construction industry, designed to uncover eligible projects, and compliantly maximise your claim.
EXPLORE: Schedule a free appointment below to determine your eligibility and your company’s total R&D tax position.
CREATE: We’ll create a claim that minimises your exposure to HMRC enquiries, speeds up the process, and undergoes rigorous compliance checks by our in-house team.
OPTIMISE: We’ll help you find additional sources of R&D funding and offer planning assistance for your R&D strategy, considering potential incentives and grants.
REWARD: We’ll help you safely receive the maximum tax credit available, supporting your future growth.
Given the wide variety of construction projects that may qualify, it’s not surprising that many companies within the construction supply chain are engaged in such work. Here are some examples of the types of companies whose claims we’ve assisted with:
This is just a sample of companies that may be eligible to make claims. If you’re uncertain whether your work qualifies, we’re happy to schedule a free assessment call to help you better understand the potential benefits of filing an R&D tax credit claim.
Technical Problem Solving:
Equipment and Process Development:
Maximise your innovation with a free consultation from the experts at Bonham & Brook. If you feel that your current claim has not been fully optimized, or if you’re ready to start your first claim, our team can help guide you every step of the way. Schedule your appointment today to ensure you receive the best possible outcome.
It was a pleasure working with the guys at Bonham & Brook, especially considering that, with the wealth of knowledge backed up with the expertise of an ex HMRC officer, we had confidence going ahead with a claim for the first time. After successfully receiving a substantial refund, we would not hesitate doing another claim and, it goes without saying, Bonham & Brook will be our preferred partners going forward. Thank you, again.
We worked with the team at Bonham & Brook on the R&D claim that we were unaware of. To our surprise they made the whole process seamless and we received our refund from HMRC. We will definitely be using B&B again for our R&D claim to help us grow our business.
At first I believed that R&D tax credits were a little too good to be true or that my company would not be applicable. Jenson, Hannad and the team's expertise and experience reassured and guided me through the process. I had to put in approx. 1 - 2 hours work and they did the rest of the application. The first time we worked together they were able to claim for the previous 2 years, so we received a bumper double rebate. This money has helped us grow the business by having the cash to grow the team and increase our marketing budget. My business has grown thanks to their work, so I am eternally grateful.
Managing & Creative Director
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