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October 22, 2024
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R&D tax relief
Sustainable practices are at the forefront of architectural design today. While sustainable design is not a new concept, the topic of how to leverage R&D tax credits to help sustainable architecture is less often discussed.
Sustainable practices are at the forefront of architectural design today. While sustainable design is not a new concept, it has gained unprecedented attention and urgency in recent years. Sustainable design revolves around the idea of creating buildings that minimise environment impact, reduce carbon emissions, conserve natural resources, and promote health for occupants. This design focuses on using materials with excellent insulation properties, integrating renewable energy sources, and optimising the building’s design to harness natural light and heat in order to minimise environmental impact. Sustainable design principles are essential for addressing future environmental challenges.
While the benefits of sustainable design principles are clear, implementing these solutions can be challenging and time consuming. Sustainable design often requires a complex multidisciplinary approach involving architects, engineers, contracts, and even the occupants of the building. Moreover, achieving sustainability often demands extensive research, experimentation, and prototyping, which require significant investment in R&D. By leveraging R&D tax credits, architects can offset the financial burden of innovation, enabling them to invest in groundbreaking sustainable design solutions for a greener future.
Does my project qualify for R&D tax relief?
Numerous architects can qualify for R&D tax relief by pioneering innovative solutions. Qualifying projects typically involve overcoming technical challenges through novel solutions, new materials, and cutting-edge technologies. Qualifying R&D activities in sustainable architecture can include:
By successfully claiming R&D tax relief, architects can access financial benefits that can be reinvested into future research, enabling firms to expand their knowledge base and develop cutting-edge design solutions. These innovative architects will be able to contribute to a greener future and play a leading role in sustainable development.
How can we help?
Although architects are at the forefront of innovation, navigating the complexities of R&D tax relief claims can be daunting. The uncertainty surrounding eligible activities often results in missed opportunities and the risk of inaccurate claims.
Here at Folio Partners, our service goes beyond simply processing claims. We will work closely with you to identify and document qualifying R&D activities within your claim. This collaborative approach ensures a comprehensive and accurate claim that reflects your firm's projects. Our team will then prepare a detailed, robust R&D report which provides a clear breakdown of your claim. Ultimately, our aim is to ensure that your claim is compliant with HMRC’s needs and that the submission process is as smooth as possible.
Contact to learn how we can support your R&D claim submission for your architectural practice. Alternatively, if you want to find out more about R&D tax relief in the architecture sphere and the sort of projects that qualify, click here.
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