R&D Tax Credits for Sustainable Businesses
Open up revenue opportunities to financially sustain sustainability
The current global pandemic and the impact of COVID-19 has highlighted the impact that we have on the earth.
So many companies are re-evaluating the way they do business, assessing the products they offer, and reinventing their business processes, in an effort to be more sustainable.
We are not yet at the position where companies have to pay for the external damage that do (e.g. carbon taxes), but even so, many companies are also finding that sustainable solutions are actually better for their business, reducing energy costs, reducing water usage, and reducing waste. And the work they do is often eligible for an R&D Tax Credit relief
Examples of Qualifying R&D Activities for Sustainability-Focused businesses
- Developing new techniques to monitor endangered species
- Developing new packaging solutions
- Re-engineering products to be re-usable and recyclable
- Reengineering products to be made from sustainable materials
- Developing new processes to reduce waste, water or energy consumption
- Developing new processes to utilise recycled materials
- Develop new products from waste products
- Developing new waste-to-energy solutions
- Developing plant-based products to replace animal-derived products
Are you tapping into eligible funds to continue your sustainable development?
SMEs are missing out on £thousands in R&D tax credit relief.
Many companies are unaware that their activities to develop new products for their customers or themselves are in fact R&D, the costs of which can be very significant when all contributions are taken into consideration
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