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R&D Tax Credits - Agriculture

There is a lot of innovation happening in the agriculture industry at the moment, which is why R&D in agriculture is so important. It will come as no surprise that a large number of businesses in the agricultural industry can take advantage of R&D tax credits and claims.

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Average UK claim amount

R&D Tax Claim for Agriculture

There is no shying away from research and development in agriculture, as it’s something that more and more businesses are embracing, and R&D tax credits are there to encourage this throughout the sector. This could involve developing a new way of doing things, creating new agricultural technology or utilising research findings to boost efficiency. If your business is carrying out research or development in the agricultural industry, you could be eligible for R&D tax credits for agriculture.

At RDS, we are on hand to guide agricultural businesses through the process of claiming R&D costs back from HMRC. We can help you to determine if your business - regardless of size, products or services - is eligible for R&D tax relief. If it is, our expert team is on hand to help you to make a successful claim. Our service is professional, experienced and straightforward.

Discover your potential claim value today

Use our handy R&D tax relief calculator to find out how much you could be claiming back.

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What activities qualify?

Please find below a few examples of activities that qualify as R&D expenditure in agriculture.

Developing new or improved agrictulture equipment.

Developing technology and processes to grow produce or make ingredients more efficiently.

Innovative usage of eco-friendly or sustainable materials or methods.

Developing innovative systems to overcome supply chain issues.

Developing irrigation systems and water treatment systems.

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What can you claim?

Please find below what you can include in your R&D tax relief claim.

Staff costs including salaries and expenses.

Subcontractor and freelancer costs.

Consumables (materials used up during R&D and utilities).

Software directly employed in the R&D activity.

Travel and subsistence expenses.

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Sectors

We have helped businesses across a range of sectors claim R&D tax credits for their innovative work.

Our Claim Process

Assessment

An initial phone call or face-to-face meeting is typically the first step, so that one of our Business Development Managers (BDM’s) can discuss potentially qualifying R&D projects with you & explain the activities that can be included within an R&D claim.

Analysis

Following a successful eligibility check, our team will officially engage with you & request the straightforward financial information required from you and your accountant in order to analyse the R&D costs. A report call / meeting will also be carried out so that a justification report can be created.

Report & Sign Off

Once the claim financials and report have been completed, our team will liaise with you to discuss the final claim and get feedback from you & a confirmation that all eligible activity has been included. Following the review and claim sign off, we will submit the information to your accountant.

CT600 Submitted

One of the benefits of our approach is that we don’t tread on the toes of your accountant by taking over as your ‘agent’ with HMRC. We pass over the completed claim info to your accountant so that they can alter your corporation tax return (CT600) to include the figures, and also attach the report for HMRC.

Funds Received

By creating a comprehensive justification report & detailing the figures included within the claim, the process of HMRC reviewing the submitted info and approving the claim should be quite quick - typically taking 4-6 weeks. You will receive your benefit directly from HMRC, we then purely bill you upon success.

Frequently asked questions

Below are some of the most frequently asked questions we get regarding making an R&D tax relief claim. If you have any more questions please contact our team.

R&D tax credits is an incentive where UK limited companies can receive a reduction or rebate on their CT for funds spent on eligible R&D activities. This incentive was established by the government in 2000 and has continued to support businesses of all sizes and sectors to grow.

No, you do not need to create a new product to qualify for R&D tax credits. For instance, you can make significant advancement or appreciable improvement to existing machinery, in a manner that promotes efficiencies within your sector.

Yes, you can claim for unsuccessful projects if you can demonstrate that an advancement was sought, and you attempted to overcome the ‘uncertainties’ you faced during your research and development endeavours.

No, we do not bill you until you receive your benefit from HMRC. The relationship we build with our clients is based on the principles of trust and transparency. Therefore, the benefit is paid directly to you before you pay us for the services rendered.

For many firms, the prospect of R&D can seem daunting and extremely complex at first, therefore RDS aim to make the process as simple and straightforward from the onset.

Step 1: A 15-minute conversation with the Business Development Team, to discuss eligibility.

Step 2: Signing of the NDA/ client agreement, dictating the terms and conditions of our service.

Step 3: Arranging and undertaking a Project Technical Report call with your dedicated financial analyst. This will entail evidencing your developmental endeavours and apportioning financial calculations to support your application with HMRC.

Step 4: Reviewing compiled information to ensure you are completely satisfied with the information collated prior to its submission to HMRC.

Step 5: We actively monitor the status of the application to ensure that any benefit is realised within the anticipated timeframe.

HMRC aim to process payable credit claims within 28 days of receiving them. However, processing time can be affected by aspects such as, time of the year. There is a general increase in demand for months like March and December.

Ready to get started?

With three UK office locations we are always on hand for a call or to meet in person. Start your journey with RDS today.

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