R&D Tax Credits For The Construction Industry

November 5, 2019

Jackie Wilding

The construction industry has historically underclaimed R&D Tax Credits, with firms potentially missing out on highly lucrative and hugely beneficial incentives. Claiming back tax credits available can even make the difference between changing the year-end bottom line from a minus to a plus.

If you answer ‘yes’ to the following questions, then you could be eligible to claim:

  • Are you doing something differently, making something bigger, smaller, lighter or faster – investing in developing new processes, products or services?
  • Do you employ staff in different roles who work on projects to help enlighten and advance understanding?
  • Are you spending on any of the following?
    • Contractors
    • Staff Salaries
    • Raw Materials
    • Utilities
  • Has this investment been in the last 2 to 3 years?

Many construction businesses believe that R&D tax claims are limited to brand new products or ideas and only available to certain other sectors, but this is not the case.

To find out how Honeycomb can help you access all benefits available to your business, get in touch today.

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