Agriculture, Food & Drink

The R&D Tax Relief scheme is an HMRC incentive designed to inspire innovation and increased spending on R&D activities by companies operating in the UK.

Research & development in the food & drink industry plays a critical role in new product development. Whether it is:

• a brand-new product
• an improved product e.g. with reduced sugar, salt or fat; or;
• an altered product that caters for different dietary requirements e.g. vegan, gluten-free or dairy-free, while retaining flavour;

this can all qualify for R&D Tax Relief. In addition, activities to design and implement new processes can also make your business eligible to make a claim. Here are some examples:

• Waste valorisation
• New production line
• Alternative packaging to plastic
• Developing new growing systems
• New manufacturing process to increase efficiency
• New process to retain nutritional value of a product

If your business is developing something new and is an advance in overall knowledge in a field of science or technology, then it’s highly likely that you should be claiming R&D Tax Relief.

Through years of working with businesses in the food & drink industry, at all stages of the supply chain, we’ve identified thousands of pounds in eligible R&D expenditure for our clients. Notably, we were able to secure one of our clients £480,000 in R&D Tax Relief, for just one financial year.

Receiving this Tax Relief from HMRC provides a cash injection back into your business as a reward for being innovative!