Page 6

INDUSTRY NEWS

Architects firms ‘missing out on tax relief’ With a wave of innovation sweeping the industry, architects could be missing out on tax relief, according to the UK’s leading R&D tax credit experts Jumpstart. It says that many firms are unaware that they may be eligible for R&D tax relief because in the past they have largely relied on traditional techniques with little or no research and development involved. However with many companies now experimenting with new techniques and materials, they may be able to claim significant amounts in tax relief to help offset the cost. Government records show that just 2% of R&D tax relief claims are from the construction industry, yet it accounts for over 10% of corporation tax returns. In the year to March 2015, construction firms made 480 successful claims and received £35m in tax relief. Similarly the real estate sector made just 45 successful claims – a negligible proportion – yet it accounts

for over 5% of corporation tax returns. There are no specific figures for architecture firms. Ian Wolfendale of Jumpstart says: “Until now architecture firms have understandably preferred to stick to the tried and tested. While we have seen plenty of exciting designs, innovations have focused more on the look and style rather than the underlying techniques. “Now a range of pressures is driving innovation – the need to deliver more units more quickly, and to improve sustainability, rising materials costs and the shortage of skilled labour which is likely to get worse after the UK leaves the EU. New materials and technologies could offer solutions, therefore we are seeing a lot more research and development within these industries.” Projects which may qualify for R&D tax relief may include: • developing new or improved modular construction techniques • developing new or improved

building materials • substituting one material for another – such as using wood where only concrete has been used before • extending the limits of what can be done using existing materials • energy efficiency systems • acoustic dampening, isolation or distribution within a space Ian Wolfendale adds: “In general, projects which will qualify for tax relief are those which are beyond the bounds of existing knowledge, where the existing data and design rules do not apply, or which involve experimenting or prototyping. “Companies involved in such innovations need to ensure that they claim their full entitlement in R&D tax relief. However the rules are complex so it is best to speak to an expert and get advice on your own particular case.” www.jumpstartuk.co.uk

FAKRO to sponsor BMF Conference For the third BMF All-Industry conference in the series, FAKRO are headline sponsors. This year’s conference is being held in the Five Star Intercontinental hotel in Budapest 15th – 18th June and FAKRO will be playing a leading role in the event again. The conference provides an educational programme to tackle issues the industry is currently facing, with FAKRO Commercial Director Dave Robertson proudly welcoming everyone and beginning

6

May/Jun 2017

the process of a weekend of interaction and discussion. There will be opportunity for merchants and suppliers to network over the 4 days. A programme of events and social activities will take place and, in addition, lead sponsors FAKRO will have a feature stand providing the opportunity to showcase their latest products, designs and manufacturing techniques. www.fakro.co.uk www.bmfconference.co.uk/budapest/

www.daylightingmag.co.uk

Profile for BB2B

DAYLIGHTING Magazine issue 4 May/June 2017  

The bi-monthly magazine for architectural specifiers and technicians, building contractors and anyone interested in the provision of natural...

DAYLIGHTING Magazine issue 4 May/June 2017  

The bi-monthly magazine for architectural specifiers and technicians, building contractors and anyone interested in the provision of natural...

Profile for bb2b