Funding construction innovation with R&D
R&D tax credits reward your innovation
The construction sector is vital to the UK economy and Industrial Strategy, but with challenges that require innovation it is important businesses have access to funding to develop solutions. The R&D Tax Credit scheme can be a great source of funding for companies developing new or improving existing products or processes, irrespective of whether the project is successful or not.
According to the latest HMRC statistics, construction companies are claiming back an average of £63,000 in tax relief - a value that could be significantly higher. However with the sector only accounting for 5% of claims in 2017-18, it's clear that many eligible firms are still missing out.
Our free guide will help you make your investment go further
- Identify the opportunities for innovation in construction
- Understand how R&D tax credits can benefit your business
- Find out what costs qualify
- Learn how to recognise qualifying activity
Your worries, alleviated
We do the heavy lifting so that you don't have to.
We've got it all in hand
A major misconception we frequently hear from businesses considering whether or not to make a claim is the concern that a claim can take too much time – which is not the case at all! With help from our team of experts submitting a claim can take up to one day of your time and can yield massive returns.
Claim what's yours
The money that you have spent on R&D has already been spent. What the R&D Tax Credit scheme offers is a way to claim some of that money back.
We like to think of the scheme in a similar way to a supermarket loyalty reward programme, where you get a financial benefit for purchasing things you planned to get anyway.
With us, there's nothing to fear
The best way to avoid a HMRC enquiry is to compile a robust claim that has been researched and critiqued before it is submitted.
This is where working with an expert with 13 years experience is helpful. Our multidisciplinary team know the system inside and out.
MPA & the construction sector
We are dedicated to supporting innovation in the construction sector
Partnership with CEA
Our partnership with the Construction Equipment Association (CEA) has made it even easier to support innovation in the sector. The CEA represents the UK construction equipment sector and is recognised nationwide as the voice of the industry.
Cabcare
During our review process for composing the supporting claim documentation, it was clear that a significant number of projects, undertaken by Cabcare, qualified for R&D tax relief and had typically involved both proof of concept prototyping trials and high-level design for manufacturing iterations.
R&D tax credits for the construction industry
R&D can be found in your normal day-to-day job, as you solve complex problems or find unique solutions to issues you encounter.
The claims process can be difficult - but so is building a house - and that's why using an expert will really help.
Our R&D claim process is designed to be flexible with minimal input from our clients. Allowing us to do the heavy lifting, so you don't have to.
To qualify for the scheme your business has to meet the following conditions:
1. You are a limited company in the UK subject to Corporation Tax
2. Have carried out qualifying R&D activities
3. Have spent money on R&D projects
There are two main schemes within R&D tax credits, SME and RDEC and the amount you can claim will depend on the scheme you qualify for.
SME R&D tax credits - applies to companies with:
- less than 500 employees
- annual turnover not exceeding €100 (£86) million or balance sheet not exceeding €86 (£74) million
Research and Development Expenditure (RDEC) scheme - applies to companies with:
- 500 or more employees
- revenues over 100 million euros or a balance sheet of more than 86 million euros
Use our free tax calculator to estimate your claim amount.
It's true that that the thought of any attention from HMRC can be uncomfortable, but that's where having a great team behind you is important.
We have a strong relationship with HMRC and defend every claim as part of our service.
The construction sector is diverse, and R&D can be found in many of the industry verticals - including across the supply chain.
Some examples include innovations around safety regulations, offsite manufacturing, energy generation, meeting new regulatory requirements, deploying digital technologies and material science.
Speak to our team
We are a team of technical experts, tax specialists, industry-leading accountants and all-round innovation enthusiasts. Founded in 2004, with a vision to strengthen the UK economy through innovation, we’ve helped over 2,000 UK businesses access over £210m in R&D tax credits and grants to grow their business.
Exceptional service, totally professional in every respect
MPA have dealt with our R&D claim for the past 5 years and over that period we have had worked with 3 different analysts. I can say without hesitation that they have each been totally professional and provided us with first class guidance and advice.
Sarah - June 2020
Don't forget your free guide
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