R&D Tax Credits - Food & Drink
Business is booming in the food and drink industry, and a lot of this is linked to exciting projects that various businesses have in the works. If your business is working on an innovative project in science or technology, you could be eligible for R&D tax relief.Speak to us
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Average UK claim amount
R&D Tax Claim for Food & Drink
With the UK’s love of food and drink, it should come as no surprise that something exciting is always happening in the industry, and a lot of this is powered by innovation.
Food and drink businesses are researching, developing and revolutionising various parts of the sector, ranging from developing new processes to researching health, ingredients and the effects that various products have on us. Luckily, R&D tax credits are there to help, and your business could be eligible. If you are carrying out research or development in the food and drink industry, you could be entitled to R&D tax credits.
R&D in the food and drink industry can be hugely beneficial, regardless of the exact type of business that you have and the project that you are working on. With RDS, claiming R&D tax relief is a streamlined, straightforward and simple process from beginning to end. We assist you with everything from determining your eligibility to making a successful claim.
Discover your potential claim value today
Use our handy R&D tax relief calculator to find out how much you could be claiming back.R&D Calculator
What activities qualify?
Please find below some examples of activities that qualify as R&D expenditure in food and drink.
Developing a new food or beverage product.
Developing new product lines which are healthier, meat-free or free from.
Improving an existing recipe in terms of taste, nutritional content, salt/sugar content or texture.
Improving functionality of product packaging to increase shelf life, improve sustainability or recyclability, or reduce cost.
Developing new equipment or processes to improve the scale, speed or efficiency of manufacturing, bottling, packing or canning.Learn more
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.Learn more
Our Claim Process
Report & Sign Off
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.