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Benefit from R&D in construction
- Use R&D to find innovative materials and construction methods that can improve building quality and durability, reducing the need for rework and maintenance.
- Harness research into sustainable materials and energy-efficient technologies which can significantly reduce the environmental impact of construction projects.
- Have time and finance to find new safety protocols and technologies that can create safer working environments for construction workers.
- Develop more cost-effective materials, construction methods, and project management tools.
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This could involve researching and utilizing materials like bamboo, hemp, or mycelium as sustainable alternatives to traditional construction materials. Another example would be exploring the use of robots for tasks like bricklaying, demolition, or site preparation to improve safety and productivity.
Implementing advanced BIM techniques to automate workflows, improve collaboration, and optimize project planning and execution would be considered R&D in construction. It could also include researching and developing prefabricated components, modular construction, and off-site manufacturing techniques to enhance efficiency and quality control.
R&D tax credits for construction are allowed for energy efficiency improvement, such as developing and integrating renewable energy sources like solar panels or wind turbines into buildings to reduce reliance on traditional energy sources. It could also include researching and implementing green building practices that minimize environmental impact throughout the construction lifecycle.
Making general improvements such as investigating innovative safety protocols and technologies to minimize accidents and improve worker safety on construction sites, would qualify for construction R&D tax relief. Implementing cost reduction by exploring new materials, techniques, and technologies that can streamline construction processes and reduce project costs also supports addressing industry challenges.
The best way to maximise your construction R&D tax credits is to ensure that you are making the most of this opportunity to put money back into your company’s cashflow as quickly and efficiently as possible.
Make sure that you are not making any of the most commonly seen mistakes with R&D to ensure that you can claim the maximum amount of money back from HMRC, and you are not losing out on important tax relief funds.
To get your funds faster and boost your construction business cashflow sooner, taking out an R&D tax credit loan is invaluable. This allows you to get your money in days, instead of waiting months for HMRC. With up to 80% value as a cash payment, both large and small architecture businesses can benefit from advance funding for their R&D claim.