Access to Research and Development funding

How can your business access government support for R&D funding?

R&D Tax Relief is a routine and uncontroversial government scheme designed to incentivise UK businesses who are attempting to innovate through the development and improvement of products and processes. Yet, only a fraction of businesses in the construction industry who are eligible for R&D tax credits make full use of them.

How to access R&D funding

You can access funding through preparing an R&D tax relief claim attached to your tax return which calculates the R&D activity which meets HMRC guidelines as eligible expenditure, and an adjustment can be made in your tax return to calculate the relief.

You can do this independently or consult a specialist R&D tax advisor who will help to prepare and submit an R&D claim. As a result of the R&D Tax Relief, a business can be offered a cash benefit of up to 33% on qualifying expenditure. This means that if you were to spend £1,000,000 on qualifying R&D projects you could receive a tax refund of £247,000 (profit-making business) or a tax credit of £333,500 (loss-making business.

A successful claim will result in a refund paid within around 4-6 weeks of the R&D claim being submitted to HMRC, so it is an effective means of improving cash flow!

How we can help

At Mazars, we have a specialist R&D Tax team dedicated to supporting companies in the construction sector with the creation and submission of R&D tax relief claims. We are well rehearsed in the area and collectively have managed to save more than £100m in tax savings for the companies which we support.

Get in touch

If you’d like to discuss your eligibility or how to prepare your tax relief claim, please do not hesitate to get in touch by completing the short contact form here.