RDS - Sectors - 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.
No upfront fee
We only bill when your claim is successful
£55m+
Unlocked for our clients
£7.6bn
Claimed by UK businesses in the 21/22 financial year
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.
Use our handy R&D tax relief calculator to find out how much you could be claiming back.
Please find below some examples of activities that qualify as R&D expenditure in food and drink.
You can claim for the following:
an element of staff salary costs as well as employer’s NIC & employer pensions costs relating to employees’ time whilst actively engaged in research and development projects.
carried out by third parties on your behalf relating to the R&D.
used directly in R&D including prototyping and concept development costs.
where the software is required to enable the process of R&D.
related in specific proportions to the R&D projects.
where these costs occur in order to enable your R&D to occur.
We have helped businesses across a range of sectors claim R&D tax credits for their innovative work.
MANUFACTURING
CONSTRUCTION
ENGINEERING
TECHNOLOGY & COMMUNICATIONS
AGRICULTURE
FOOD & DRINK
ARCHITECTURE
SCIENCE & MEDICINE
SOFTWARE & IT
AEROSPACE
DEFENCE & MILITARY
PHARMACEUTICAL
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.
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.
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.
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.
With three UK office locations we are always on hand for a call or to meet in person. Start your journey with RDS today.
