Renewable Energy R&D Tax Credits

A wide range of disciplines that contribute to the advancement of power generation technology, such as prototyping, development, testing, and manufacturing, may be eligible for tax credits of up to 33% of qualifying expenses. R&D efforts in the renewable energy sector are aimed at developing affordable clean energy and advancing towards a zero-carbon economy.

 

As the demand for renewable energy continues to grow in response to climate change concerns, the energy sector has been brought to the forefront of the global stage. With supply chain instability driving up the cost of raw materials and uncertainty in the future of renewable technology production and deployment, there are significant opportunities for transformation in the industry. Our experts in energy, engineering, technology, and expertise have helped numerous renewable energy and cleantech clients to make a valuable contribution to this sector, supporting their R&D activities to speed up the development of next-generation energy production.

Why Choose Us?

  • £50 million secured for over 500 businesses
  • 97% client retention rate
  • 500+ Businesses supported

 

Successful Renewables Claims by Industry

The following industries are eligible for R&D tax credits:

  • Hydrogen
  • Ocean
  • Biomass
  • Solar

 

Qualifying Renewables R&D Activities

Cleantech:

  • Intelligent electric vehicle charging technology with a smart charger that optimizes for the cleanest and cheapest electricity
  • Technology to heat homes using electricity and store heat efficiently until needed
  • Machine learning platform to reduce carbon emissions and operational costs in process plants
  • Platform to manage solar plants and increase green power generation
  • Zero-emission transport refrigeration unit with cloud-based monitoring
  • Carbon capture system using metal-organic frameworks (MOFs)
  • Platform to support the balance of supply and demand on power grids, reducing congestion and enabling greater renewable energy penetration
  • Fuel cell technology with improved efficiency
  • Building fabric and energy demand reduction technologies, advanced building control systems, ventilation technologies, and lighting systems

 

Solar:

  • Development of technologies and materials to increase the efficiency of PV and generate more electricity from renewable sources
  • Organic and perovskite solar cell development

 

Wind:

  • Floating offshore wind farm with innovative floating technology and reduced manufacturing hours and transportation costs
  • Integrated wave energy with floating offshore wind platform
  • Dynamic cable protection and ancillaries for next-generation floating wind turbine generation system
  • Tension leg platform foundation with wind turbine installation system using less steel and mooring materials

 

Expenditures that can be accounted for in your R&D claim:

  • Payroll/staffing expenses for relevant professionals
  • Subcontracted R&D for the creation of novel prototypes and technologies
  • Consumable materials used in research.
  • Software and software licenses used in R&D
  • Compensation paid to employees for participating in R&D trials.
  • Contributions to independent research institutions for joint research projects
  • Cloud computing and data storage costs incurred in R&D, starting from April 2023.

Our R&D Tax Credit Process

Our team of sector specialists, renewable professionals, accountants, and former HMRC tax inspectors is uniquely equipped to identify eligible R&D expenses in construction projects that other advisors may miss. Our process, specifically designed for the construction industry, is aimed at maximizing your claim and minimizing exposure to HMRC inquiries.

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.

 

What next?

If you believe your claim has not been fully optimised and you may be entitled to better service, or if you want to begin your first claim, seek professional advice from Bonham & Brook on how to proceed. Schedule a free consultation using the form below.

 

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What our clients have to say

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.

Chris Strik

Managing Director

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.

Chetan Patel

Director

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.

Ryan James

Managing & Creative Director

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