Many architecture firms undertake qualifying R&D activity daily but fail to take advantage of R&D Tax Credit Reliefs.
What may seem as typical day-to-day design challenges may not need to qualify as R&D-related expenses?
Some architecture projects are unique and present numerous design challenges, which is why architecture firms typically spend a majority of their time in the conceptual/schematic design, design development, and construction document phases.
Contact us today to explore how we can assist with your R&D tax credit reliefs application.
Research and Development (R&D) tax credits are a government scheme in the United Kingdom that allows companies to claim back some of the costs of R&D activities. The scheme is designed to encourage companies to invest in R&D and to promote innovation.
In the architecture and building industries, companies can claim R&D tax credits for a wide range of activities, including:
To qualify for R&D tax credits, a company must be a UK-based business and the R&D activities must be related to the company’s trade. The R&D must also seek to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty.
The amount of credit a company can claim depends on the size of the company and the nature of the R&D activities. For small and medium-sized enterprises (SMEs), the credit is worth up to 33% of the R&D costs. For large companies, the credit is worth up to 10% of the R&D costs.
Contact us today to explore how we can assist with your R&D tax credit reliefs application.
Colin Copley, Owner and Founder of Copley LTD, shares his experience of working with RDI Solutions.
Contact us today to explore how we can assist with your R&D tax credit reliefs application.
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