We see qualifying R&D activity in the innovative use of green or sustainable methods. R&D often leads to an improvement in existing construction techniques to solve site specific or environmental issues or developing new products such as lighter weight, stronger, resilient or easier-to -process building materials.
This sector includes the following types of business.
Yes, construction companies can claim under either scheme depending on their size and other deciding factors. Of the R&D tax relief claims made in 2018-19 so far, 91% of them were under the SME scheme equating to 74% of the value claimed.
Yes, construction companies that have already claimed for R&D tax credits might find that they could claim even more by applying for the Patent Box scheme. However in 2018-19, so far, only 30 construction companies claimed corporate tax relief under Patent Box, so potentially the construction sector is missing out on this opportunity.
Industry: Information Technology