R&D Tax Credits for Food and Drink Businesses
Innovation is a never-ending requirement for food and drink businesses.
SMEs make up 96% of the food and drink industry with 89% of you involved in some aspect of new product development. However, only about 50% of you have claimed the R&D Tax credits that you’re entitled to. Quantum R&D Tax are the experts to help you financially enhance productivity.
New product development, automation, supply chain improvements, responding to consumer choice and developing healthier food and drink products comes at a cost, but cost, which most likely entitles you to an R&D tax rebate. We will give you the very best chance to claim the tax R&D credits your business is entitled to.
Recent claims in the Food & Drink sector
Gin Manufacturer
Gin Manufacturer
Biscuit Manufacturer
Biscuit Manfacturer
Plant Based Drinks
Plant Based Drinks
Brewery
Brewery
Examples of Qualifying R&D Activities in the Food & Drink Industry
- Developing plant-based products to replace animal-derived products
- Scaling up a traditional or home recipe to be viable in a commercial environment
- Developing food product formulations to achieve specified analytical requirements, e.g. to meet new targets for pH level, sugar content, salt content, lipid content, product viscosity
- Developing new formulations where the outcome is uncertain
- Investigating alternative ingredients, for improved health or environmental benefits
- Developing production process specifications and techniques for new food products, including mixing times, batching sequences, and cooking temperatures
- Improving production processes to increase efficiency and/or waste reduction
- Developing and testing products and processes to meet new regulatory requirements
- Developing improved packaging solutions, e.g. for biodegradability, recyclable, portability, longer shelf-life, traceability, etc
SMEs are missing out on £thousands in R&D tax credit relief
Don’t assume your business is not eligible. Quantum R&D Tax Credit Specialists have helped many food and drink businesses to receive every penny they are entitled to.
R&D tax credits are available to every UK limited company that is subject to corporation tax, so if you’ve, spent money on improving or developing new products, services or processes, and you did this in the last two or three years, then you’re very likely to be eligible for R&D Tax Credits.
Contact us for your FREE discovery call on 01905 317018 or email us on hello@quantumtax.co.uk to request a call back
