In March, the Innovation Exchange group reconvened to head from Roberts Mills, Whitby Wood, about Optoppen an innovative new web app the company had developed, and Shubham Bajaj, Innvent, for an overview of how the R&D tax credits landscape has changed.
Optoppen
“Optoppen,” a Dutch term translating as “topping up,” refers to a construction method aimed at maximising the usable space in our cities through the addition of lightweight, low-carbon roof extensions.
This project came about when Whitby Wood began to explore how the industry could reach net zero carbon goals. The team knew that achieving net zero was an ambitious goal and recognised that systemic change would be required rather than a focus on individual projects.
Investigating a range of projects, the team found that projects with a retrofit and refurbishment focus were more favourable in terms of carbon emissions. Retaining more of the existing structure in refurbishment projects can significantly reduce carbon emissions and bring added value to buildings.
The Optoppen Web App
Optoppen is accessible as a web app giving users a tool to explore how they can add storeys to an existing asset based on the building’s current features i.e. type of façade, number of storeys already in place etc. When activated, the app will show the potential of the building; how many storeys could be added, the material options available and the carbon emission results of any changes.
R&D Claims Landscape
What is R&D Tax Relief?
R&D tax relief lets businesses liable for corporation tax deduct a portion of the costs they incur to resolve technical challenges in the delivery of projects or improvement of products and services from their tax liability (or receive a cash payment if operating at a loss for tax purposes).
Changes
As the scheme administrator, HMRC has changed it’s approach to dealing with R&D claims to ensure compliance with the requirements. They established the Mandatory Random Enquiry Programme (MREP) to better understand the nature/size of error and fraud.
The merged scheme R&D expenditure credit (RDEC) and enhanced R&D intensive support (ERIS) have been created to replace the old (RDEC) and small and medium-sized enterprise (SME) schemes. This scheme will allow for claims related to supply chain costs. Find out more here.
Get Involved
The session highlighted how the evolving R&D claims scheme plays a crucial role in fostering innovation, particularly in industries like AI, healthcare, and more. Despite challenges, it remains a key tool for driving economic growth and collaboration.
If you’d like to get involved in our next session, please get in touch. Or find out more about the Innovation Exchange or our other groups.
