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Tuesday29 July 2014

RIBA publishes tax credits advice

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Practices could be missing out on windfall

The RIBA has launched a campaign to get architects to apply for tax credits that are available for research and development work.

Written by Capita Symonds, a RIBA guide launched today says many architects who carry out R&D work on an informal basis or part of a fee-paid job may be missing out on claiming relief against corporation tax.

Introduced back in 2000, the R&D tax credit scheme has paid out £6 billion in tax relief to 24,000 companies.

Recent changes to regulations mean that small and medium-sized firms could see a return of up to £25 each for every £100 spent on or after April 1 this year. The guide outlines the type of work which is considered R&D for tax purposes.

Anne Dye, the RIBA head of technical research, said: “It is important architects realise work which is part of their day-to-day activities could actually fall under the heading of R&D for tax purposes.”

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