R&D Claims for the Construction Industry
Research and Development Expenditure Credit (RDEC), also known as R&D Tax Credits are a government initiative aimed at encouraging innovation in UK businesses. The system allows businesses to reclaim some of the money they have spent on research and development in the form of tax credit.
However, it’s often thought that they are only available to large business, or tech companies. As a result, many smaller businesses do not apply. Nevertheless, SMEs and companies who have been subcontracted to do R&D for a large company, are also eligible.
Getting VAT right is vital. HMRC have considerable powers to audit company accounts and to penalize businesses that get it wrong. It can be easy to fall foul of the process, as some items are exempt, zero rated or charged on reduction, leading to costly mistakes. Avoid unnecessary stress and worry, and allow Accurox to take over your VAT accounting and submission on your behalf.
Your project may research or develop a new process, product or service or improve on an existing one. A successful REDC application can be awarded in the shape of cash payment or Corporation Tax reductions. The relief can be claimed by a range of companies and activities, in addition, it can even be claimed when your research is unsuccessful.
To get R&D relief you need to explain how a project:
We work with some of the leading R&D experts in the industry to ensure that our clients claims are looked after.
Get in Touch – We’d Love to Help
Get In Touch
"*" indicates required fields