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.
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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:
- Looked for an advance in science and technology
- Had to overcome uncertainty
- Tried to overcome this uncertainty
- Could not be easily worked out by a professional in the field
We work with some of the leading R&D experts in the industry to ensure that our clients claims are looked after.