Claiming R&D tax credits in the Construction industry?

The construction sector has benefitted significantly from the R&D incentive particularly since the onset of the pandemic, and an increasing number of companies are using the scheme each year. According to Revenue’s annual R&D stats, the construction sector made almost 4000 claims during 2018-19 and was awarded almost £400 million from Revenue.

Despite the uptake of the R&D scheme increasing in the construction sector over recent years, there are still thousands of businesses that miss out on making a claim due to a lack of awareness or sense of reluctance due to business owners believing it will be a complex and lengthily process. Without the help of a specialist like randd, claiming R&D tax credits can be time-consuming and difficult which is why we’re here to help.

Randd works with clients to maximise the outcome of their R&D tax credits claims. Since starting in 2008, we have maintained a 100% success rate, submitted over 3000 claims on behalf of our clients, and secured over £150 million from Revenue. We stay up to date with changing R&D legislation and maintain a strong relationship with Revenue so we always know how to win the most for our clients. We have industry specialists across many sectors and technical experts that can fully understand the details of our client’s R&D projects. From the initial consultation with our R&D consultants to submitting your financial information, formulating your technical reports and tax calculation, we have professionals with decades of experience to oversee each step of the claim process.

Could your business be eligible without realising it?

If you have a construction company that has used innovation to adapt to the effects of the pandemic or has used R&D to improve your products, processes, and services you could qualify for the R&D incentive.

Qualifying R&D projects in the construction sector include:

• Building bespoke CRM systems and investing in software to track customer appointments and investing in vehicles to visit customers
• Investing in equipment that made two employee jobs a one-person job
• Trailing new ways of doing things allowed for social distancing
• Streamlining processes whilst using fewer employees
• Using technology to hold remote meetings between architects, site managers, and designers to do things such as sharing drawings online. This can be as simple as zoom/teams calls.
• Using BIM (Building Information Management) systems to co-design and develop buildings as well as troubleshooting problems. You can claim R&D credits back on BIM implementation and project use.

For example, a recent claim saw one of our clients receive £187.4K from Revenue making their total claim to date £447.3K over a 4 year period. They are involved in key infrastructure projects and specialises in car parks, highway maintenance, and drainage.

If you want to find out whether your business can qualify for a cash windfall from Revenue, contact one of our team today or head to the calculator page on our website to see how much your potential claim could be worth.

Gareth Smyth