Agriculture R&D Tax Credits
Agriculture contributes around £10 billion to the UK economy, and directly employs more than 450,000 people. It is a sector that sees a lot of innovation, such as the move to more sustainable, organic farming. However, many agricultural businesses could be missing out on vital tax relief by not claiming agriculture R&D tax credits they are entitled to. This may be because of the mistaken perception that R&D has to take place in the lab. This is not the case, and RandD Tax are here to help you claim these tax credits. These can take the form of a direct cash payment, or a reduction in corporation tax. Either way, your business will benefit and be able to free up more cash for innovation. Agriculture R&D tax credits can fund many of the expenses incurred when developing new products or processes. These include:
- Staff costs
- Software costs
Can I claim agriculture R&D tax credits?
There are many aspects of agriculture that could be eligible for R&D tax credits. These include improved feeding techniques for livestock, introducing new fertilisers or looking at ways to improve yield.
Broadly speaking, your business will be able to claim R&D tax credits if:
- It is a limited company, subject to corporation tax
- It takes part in researching or developing new products or processes - or improving existing ones
- It spends money on these projects
If you aren’t sure if you are eligible, the best thing to do is to contact us.
The experienced team of tax consultants at RandD Tax will be able to identify if you can make a claim.
We operate on a no win, no fee basis. There is no risk to starting your claim with RandD Tax.
How to claim agriculture R&D tax credits
At RandD Tax, we understand that agriculture is a demanding, intensive industry.
That is why we will handle your agriculture R&D tax credits claim for you. We have the experience needed to process your claim quickly with HMRC, ensuring you get your payment as soon as possible.
Contact RandD Tax today to find out more.
Get in touch today regarding agriculture R&D tax credits