Bournemouth-based consultancy Business Cash Enabler reports that one of its clients in the house building sector received £230k as a government cashback for the development of sustainable housing design.
Business consultant, Rob Sowden comments: “It’s a brilliant example of a virtuous circle, with government investment into businesses that seek to make a difference and then receive a reward for helping to keep the UK at the forefront of innovation, to fuel further growth.
“The September 2017 government statistics on Research & Development tax credits, shows that Construction as a sector did not claim a significant amount of the total credits of the £2.9bn awarded in the most recent reported year. This often happens because an assumption is made in certain sectors that a company doesn’t do any R&D. The official scheme definition states that for an activity to qualify there must be an ‘appreciable improvement’ in the intent or outcome of a qualifying workstream. When the analysts’ I work with discuss with a client what they actually do, it’s amazing what qualifies as R&D for the credit. Even innovative loss-making companies can obtain an annual cash payment!
“I find it fascinating visiting companies each week that are at the forefront of innovation and it’s rewarding that around 90% of companies I visit are eligible for this government funding but didn’t know that they were, had been misinformed, or had significantly under-claimed.”
For more information on the R&D tax credit scheme or to obtain a free eligibility check click here.
About Business Cash Enabler
Dorset Chamber member Business Cash Enabler provides a free eligibility checking service but does not contract with companies and can align them with a specialist provider if they are eligible and wish to do so.