Despite the fact that there are over 250,000 SMEs within the construction industry in the UK alone, HMRC’s latest available figures show that only roughly 1% have claimed research and development (R&D) tax relief.
Perhaps one of the main reasons so few construction firms claim R&D tax relief is they’re unaware of their eligibility.
It’s time your construction firm explored its R&D eligibility. For a helping hand getting started, and expert advice on the application process, get in touch with Lumo today.
Lee Quarzi at Lumo Tax