Build July (2016)

Build Magazine 73 After all, the potential savings to be won are far from insubstantial – although it varies, most construction firms could in reality be claiming between two to four per cent of their annual turnover as eligible R&D expenditure. Despite the fact that the recovery is still beset by challenges, in a competitive market this can make a real difference. Although construction is on the up in the South East, the picture is more subdued elsewhere in the country, and far more will be needed if the country is to meet its various looming infrastructural challenges – starting with a need to build 260,000 homes a year. A better understanding of the tax implications of R&D in construction – from both HMRC and the industry – could help catalyse the solution, and get Britain building again. By Justin Arnesen, Director of R&D Tax & Grants at Ayming