Your Business Could Save Money with R&D Tax Credits
Land remediation companies often dismiss their allowance to claim R&D tax relief and tax credits. This is usually due to the perceived complexity when combining the land remediation with the tax R&D relief tax rules. But things are actually a lot simpler…
The R&D tax legislation allows land remediation companies to obtain tax relief by virtue of the company’s activities, regardless of the ownership of the land.
Obtaining R&D Tax Credits for Land Remediation Projects
To obtain R&D Tax Credits the company must merely be seeking to develop a remediation process, by utilising science and technological understandings.
Our experience shows that a company engaged in land remediation usually results in a claim being made on at least 70% of its activity as a whole. This applies even though the company is usually engaged to remediate the land.
Very few sites obtain the same variables and obstacles, overcoming these can lead to a R&D tax relief claim. A few R&D remedial options include:
- Monitored Natural Recovery
- In situ Capping
- Sediment treatment
- Soil remediation
- Ex-situ chemical soil remediation
- In-situ groundwater remediation
- In-situ chemical oxidation for treatment of groundwater
How Could R&D Tax Relief Save you Money
Once it is identified that R&D is arising, then an expert R&D tax company seek further details to maximise the costs associated with the claim. Costs such as:
- Staff, including NIC and pension contributions.
- Subcontractors, providing specialist services to assist the R&D project.
- Software licences, where software is used to assist the R&D design and testing.
- Materials, this can be materials used in prototyping, testing, or those which are contaminated so only capable of use on the R&D project. E.g. Testing and monitoring equipment, materials used for in situ remediation.
On average 26% of the qualifying costs can be claimed back as R&D tax relief from the HMRC.
Start Your R&D Tax Claim Today
If any of the above are sounding familiar we urge you to contact our partner R&D Tax Solutions Ltd in Manchester today on 0161 298 1010 as their experts will be able to explain to you in plain English if your land remediation activities qualify for R&D tax credits. They will save you time and guard you from costly mistakes of incorrectly submitted R&D claims.