About RIFT R&D Tax Credits

To help meet our mission of making more construction companies aware of the R&D Tax Credit scheme to reward their innovations, RIFT is delighted to announce the start of a Platinum Sponsorship programme with the British and Irish Trading Alliance.

As one of the UK's leading Research and Development Tax Credits experts, RIFT can help unlock the full benefits of financial support for innovation in this sector. Innovation is the bricks and mortar of construction, and R&D Tax Credits need to take their proper place at the forefront of industry thinking, planning and practice.

R&D Tax Credits seem almost custom-built for the construction sector. Every project in the industry throws up its own unique challenges, and yet far too many firms are missing out on the rewards their R&D innovation entitles them to. With that in mind, the latest statistics from HMRC are pretty eye-opening.

• An average SME R&D claim is £61,514.
• 21,865 claims were made by SMEs in 2015/16, a rise of 22% over the previous year.
• SME claims for 2015/16 came to £1.3 billion.
• Of those claims, only 2.5% came from the construction industry, for a total of £20 million claimed.

More than anything, what these figures show is that construction is holding itself back at exactly the time it needs to be surging forward. That's what BITA's new partnership with RIFT is setting out to fix, and it starts with getting the word out about R&D Tax Credits. 

Jan Post, RIFT Chairman said ‘I’ve been attending BITA events for a number of years, and having admired their approach, wanted to get more involved.  In partnership with BITA, we're putting R&D Tax Credits at the forefront of business planning and practice for their members.’ To find out more contact New Business Manager Julie Barry on jbarry@riftgroup.com or 07908 542441.