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VAT: reverse charge for building and construction
In a move designed to reduce fraud, HMRC have implemented new VAT legislation for the construction industry, effective from 1 March 2021.
BIM: Demonstrating the potential of innovation in the construction sector
Increasing pressure for heightened innovation in the process of design, build, and its supply chain has led to the development of Building Information Modelling (BIM). In this article we look at the development of this technology and the benefits it's providing.
Why you don’t think your construction business innovates
You may not immediately think about construction when you hear the phrase ‘research and development’, but how can an industry that solves complex problems every day not be at the forefront of innovation?
All about R&D in the construction sector
The construction sector is vital to the UK economy, contributing around £90bn a year and employing almost 3 million people. A lot of investment has been made over the last decade, with the sector becoming less risk-averse, adopting new technologies, techniques and ideas quicker than ever before.
Does your construction business qualify for this funding?
For HMRC, R&D is loosely defined as ‘the development of new products, processes and techniques, or the modification of existing ones’.