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As civil engineers, we all know active change and re-design can be needed at any stage. adapting to meet the technical challenges in our schemes from conception to decommission. Much of this could qualify within the HMRC’s definition of ‘R&D’, and tax credits could be rightly claimed as such.
R&D Tax Credits are under-used across UK civils and related sectors. They make up a large proportion of UKplc – but less than 10% of the HMRC’s total R&D Tax credits come from companies within it. The opportunity to claim R&D tax credits in our sector is there and should be more widely considered.
There are caveats – Terry and Simon will outline the path towards the correct choice of R&D tax expert to assist
The last part of the title is borrowed from an accountancy publication – and to set the tone of their presentation borrowed another quote from ‘Accountancy Daily’, from January 2020 and quoting Eyad Hamouieh, BDO Tax Director, referring to R&D Tax Relief/Credits:
“The firm also claims that one problem has been the growth in unregulated tax boutiques offering advice to businesses on how to maximise their tax rebates. This may be leading to companies misusing the system.” Hamouieh said: ‘Opaque regulations and unscrupulous advice may be reducing the appeal and damaging the reputation of otherwise highly-credible tax reliefs.’"
This article had started by mentioning that HMRC were seeking the return of more than £600 million from overclaimed R&D Tax Credits! It is likely that the UK government will have paid out in excess of £5 Billion in R&D Tax Credits or relief in the last year where statistics are available. The choice of an R&D Tax expert needs careful consideration and is therefore crucial.
Founder and Managing Director of RandDTax
After qualifying in banking and developing a successful career in the commercial software industry then providing consultancy services to technology companies, Terry spent ten years providing R&D Tax Consultancy services before founding RandDTax in September 2012. He served on the R&D Tax Committee of the technology industry trade body while it existed, and has been a frequent speaker at both industry, accountancy and HMRC events.
He has sat on the HMRC R&D Tax Consultative Committee (RDCC) since 2012. RandDTax now has 19 shareholders, all active Consultants or officers in the business, and in the last eight years has helped more than 1275 companies across the UK gain in excess of £140 million in support of well over 5000 R&D projects. In December 2017 RandDTax was awarded the Business Innovation Award at the National SME Awards.
Consultant at RandDTax, Director Hafren Ousque Associates
After his Civil Engineering degree at Aston University, Simon moved into expanding the use of anaerobic digestion in the UK, becoming a Design Team Leader with farmgas providing turnkey AD plants for farms, abattoirs and the UK water industry - this experience is now coming to the fore with the vital role of biogas and biomethane in renewable energy today.
Simon moved into the field of alternative structures, joining the Reinforced Earth Company (Reco) and was a driving force behind the use of reinforced earth and Reco’s TechSpan concrete arch system across UK infrastructure. Simons original concepts for walls and bridges were adopted by Clients or proposed, and winning, alternative tenders. They contributed to major road and rail schemes across the UK, including M6Toll, A470 and the A4065.
Many won awards for technical and innovation achievements, including the George Gibby Award for Wales ICE and the Concept Award for Innovation. Moving into the management and strategic sphere Simon progressed through director roles in specialist foundations and M&E and into Tier 1 Contracting. He is now a freelance consultant and coach, the South West and Wales Regional Manager for the ibd Business Advice Group, and a national consultant with RandDTax.
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