R&D Credits – Cashing in on the Building Blocks of Innovation
Research and development (R&D) is a significant, yet often overlooked, aspect of the construction process. Designers and contractors regularly take specific site conditions into consideration, creating bespoke solutions to overcome particular challenges. The operational costs associated with innovation can generate generous tax relief through the R&D credit system, which can enhance cashflow and improve working capital. Yet despite the embedded innovation in the construction sector, very few companies exploit the cash generated. This briefing summarises the current position for R&D credits following the November 2016 Autumn Statement and the resulting benefits.