Creative on-site solutions and innovative material use are part and parcel of construction. But did you know that you can be rewarded for bespoke solutions you make on-site? Whether you’re finding smart ways to improve material use, site processes, or construction techniques, you could stand to benefit from R&D tax incentives (also known as R&D tax credits and R&D tax reliefs). And at Cooper Parry, our team has worked on R&D tax credits since it all started in 2000, so when it comes to your business, we know exactly what we need to find.

From developing greener products to improving safety or finding innovative logistical solutions. Your innovation can be rewarded with this valuable and reliable funding source. Unfortunately, so many businesses don’t make an R&D tax claim when we know they could do. At Cooper Parry, our people offer personalised, straight-talking support to set the record straight.

How our R&D team can help the Construction Industry

Quicker Claims

Our R&D team has a fantastic working relationship with HMRC, and because our Tax Partner Chris Knott is on HMRC’s R&D Consultative Committee that helps set Governmental policy on R&D incentives, we’re always one step ahead when it comes to changes in legislation. The result? A slick process for maximising claims and getting them submitted and approved.

The Brightest Minds

Happy, engaged people produce the best work, right? As the 8th Best Company to Work For in the UK, our culture attracts and retains the brightest minds around. That’s never rung truer than in our R&D team, and that’s why we’ve put over £36m back into our clients’ businesses since 2017.

Tailored Support

All our support is individually tailored to your business needs. We have specialists in R&D tax credits for construction, meaning no matter what your business or project, we know how to maximise your R&D claim.

What qualifies for R&D tax credits within Construction?

Construction throws up all sorts of challenges that demand R&D. Fortunately, these activities can be rewarded with R&D tax credits. But many companies don’t know what or who is eligible for R&D tax credits and often miss out. Ultimately, if you are involved in creating new products, processes or services, or even modifying them, you could qualify for R&D tax incentives.

Here are just some of the reasons you could be eligible:

  1. Overcoming site challenges

Need to design new methods or adapt your tools for the specific needs of your site?

  1. Tackling conservational issues

Found an innovative solution to conservational issues?

  1. Testing & prototypes

Are you delving into the unknown or adopting information-rich technologies in construction?

  1. Developing greener products

Have you implemented eco-friendly construction practices?

  1. Energy-saving techniques

Have your modifications reduced energy consumption?

  1. Improving practices & safety

Have you designed ground-breaking health and safety practices on your site?

  1. Logistical solutions

Does your solution have industry-wide significance?

If you are trying new things in construction, you could be eligible for R&D support. Find out how much and accelerate your R&D investment by getting in touch with us today. We’ll put together an R&D tax credit claim and show you exactly how much of your activities and costs qualify for R&D tax incentives.

What construction costs are eligible for tax credits?

R&D tax credit claims can be made against more costs than many people realise. You could also stand to benefit even if your R&D was not or has not yet been successful. If you qualify for R&D tax credits, you may also be able to claim for:

  • Associated staffing costs including salaries, pensions and employer’s National Insurance Contributions, as well as spending on freelancers and subcontractors.
  • Certain types of software.
  • Materials and consumables used up or transformed by your R&D.

SMEs/Large companies can claim up to 33p/11p for every pound spent on an activity that qualifies as R&D. With average claims being anywhere from £50,000 to over £600,000, don’t let R&D tax credits pass you by. Get in touch with the Cooper Parry R&D tax credit team to make the most of your R&D opportunities.

CHRIS KNOTT

R&D Partner

If you’re interested in finding out if you could claim these generous R&D tax credits, or if you’d like a second opinion on a claim you’re already making, we’d love to discuss it with you.

E: chrisk@cooperparry.com

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