Distillery, Winery & Brewery R&D Tax Credits
The vibrant and dynamic UK alcoholic drinks market, is worth 64.10bn dollars in 2023 (Statista).
However, after the disruption of the pandemic and rising prices, consumers are calling for more distillery, winery and brewery R&D to meet their changing needs.
This includes low or no alcohol, flavoured spirits, ready-mixed, healthier, sustainable and premium options (premium lagers almost doubled their market share from 2017 to 2022).
All of which creates more innovation on a process level during the crop growing, fermentation, blending, consistency testing, bottling, preserving processes and more.
R&D tax credits can offer the alcoholic drinks market an additional tax deduction of up to 130% (SME example) off all qualifying innovation spend (changing to 86% on all expenditure on or after the 1st April 2023 (View R&D tax credit changes)).