R&D in the Food & Drink Industry
What is R&D in the Food & Drink Industry?
Today we see R&D in the food industry when a new range or flavour of baked goods hits the shelves, when chefs create new dishes for their restaurants or when a business has invested in bespoke software to improve their company efficiencies and much more.
What Activity is Eligible?
As long as a food or drink business tried to create or change a product, service or process, through trial and error (because a competent professional could not easily do it), they could claim R&D tax credits and receive up to 24.7p for every qualifying £1 spent on R&D.
What can you claim for?
During the trial and error or testing period of an R&D project you can claim for:
- Raw materials (such as flour and hops)
- Software (Bespoke)
How Amplifi Solutions can help?
Our team of experts, including data analysts, technical writers and accountants guide you through and handle the entire process from case study writing, data processing to the completion of a claim and final submission to the HMRC (while working alongside your accountants), allowing you to concentrate on your business.
Food & Drink Case Study
Discover how a bakery successfully claimed R&D tax credits in this Food & Drink claim example