Source HMRC R&D tax credits statistics 2024
The statistics published by HMRC for 2022-23 are provisional and have been uplifted to include estimates for claims not yet received.
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 2022-23 so far, 92% of them were under the SME scheme equating to 71% 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. In 2022-23, so far, only 65 companies elected into Patent Box, claiming £4 million in benefit.
