How we can Help
Details of the types of Research & Development (R&D) reliefs and credits are summarised by clicking on the side bar “About Fiscal Incentives”. We primarily focus on the availability of R&D reliefs and credits on projects involving the development of the built environment.
This sector is experiencing a period of significant reform as it seeks to respond to the challenges of developing more energy efficient, digitally intelligent and higher quality buildings and infrastructure whilst also providing flexibility to accommodate changing customer preferences and building uses. This also has to be achieved in the context of scarcity in both labour and material resources and high pressure to develop on previously developed land.
This is necessarily driving a new culture of innovation and modernisation in the way the built environment is developed and the R&D reliefs and credits can support the investment needed to achieve this.
Research indicates that developers and their supply chains are failing to take advantage of this valuable incentive which can generate essential cash flow for projects as well as support a new culture of innovation.
The scope of qualifying activities within this area is broadly split between strategic R&D and site-based R&D.
The first category is strategic research and development which is typically intentional and proactive with the achievement of a specific advancement in mind. This work is typically led by a specialist group whose purpose is to define objectives, assess feasibility, identify key technological uncertainties and organise workstreams. They then deploy resources to undertake any research and development necessary to resolve these uncertainties, manage this process and report on the outcomes.
The second category is site-based research and development which is typically situational and reactive, and which responds to the technical uncertainties often encountered during the appraisal, planning, design and build phases of new developments. These uncertainties often arise due to the unique set of site, planning or regulatory constraints which need to be overcome in order for a development to be successfully completed. The result of this research and development is new advanced knowledge which can then be used to help overcome similar uncertainties encountered in the future.
The intention is to deliver a comprehensive service that captures both the Land Remediation Relief and R&D relief potential in one conversation on all of our client’s projects. This is achieved by combining the technical and commercial research required for both reliefs into one exercise. The aspects of this service that is particular to the R&D element are as follows:
+ Feasibility Studies
We assess the likelihood of a claim before preparing a full report
+ Full Claim Service
We produce a technical report and full costings to arrive at claims
+ Second Opinion Services
We review previous claims and costings to increase claims
+ Real-time Assessment Procedure
We assess R&D on a rolling or frequent basis to ensure prompt calculation of claims
+ Enquiry Support Services
We support companies in negotiations with HMRC
+ Manage the Interface with Land Remediation Relief
We ensure that there is no double counting of costs
+ International Claims
We support claims outside the UK from other jurisdictions
+ Corporate Acquisition Due Diligence
Where companies are acquired, we can help with claims for R&D credits for accounting periods that are still open
The benefit for the client is that they only have to have one conversation to address both Land Remediation Relief and R&D, there is only one conversation with technical and commercial staff and there is no risk of any penalties for double counting costs.
For more information about how we can help you assess the potential for you to claim the relief please contact ben.dewaal@tfigroup.co.uk