The construction industry accounted for 3% of all claims submitted and the average received per R&D tax claim by construction companies was 拢58,000. This is slightly lower than the 拢85,000 average overall payment per claim across the industries surveyed.
The analysis was carried out by Momentum Group, a tax credit advisory firm. Managing director Tom Verner said: 鈥淲hile HMRC statistics show many industries in the UK are wakening up to the benefits of R&D tax credits, the potential is far greater. In our experience, there are still so many construction businesses that are either not aware of R&D tax credits, incorrectly think they do not qualify or feel they lack the necessary experience to submit a claim. In fact, many companies are not claiming their full legitimate entitlement.鈥�
He added: 鈥淚t is vital that the construction industry recognises the potential of this very accessible UK government incentive... Given the potential, we find it startling that more companies aren鈥檛 claiming.鈥澛�
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