R&D Tax Credits in the Agricultural Sector
Farming may not conjure up images of an industry at the forefront of R&D and yet British farmers and agricultural related businesses are some of the most innovative in the world, developing new techniques and tools in their quest to improve overall performance in this essential sector.
Unfortunately many in this industry are unaware that they are eligible for an R&D tax claim. Could you be eligible for a claim?
As R&D tax credit specialists in the agricultural sector, Libcus can support you with your claim.
Qualifying Examples of R&D Tax Credits in the agricultural sector
The R&D tax credit scheme rewards any company whose work seeks to resolve a ‘scientific or technological uncertainty’. Qualifying activities may include:
- Initiatives to improve sustainability, reduce environmental impact or enhance soil quality.
- Adaption of machinery to improve a function specific to individual farming needs.
- Innovative use of technology and smart software to improve agricultural output.
- Developing and trialling better livestock feed & systems.
- Trialling and testing new plant varieties for yield or disease resistance.
Our work in the agricultural sector
You’re much more likely to succeed with an R&D tax claim if you work with a company that understands your business and the resarch and development being carried out. Our highly experienced technical consultants have a unique mix of skill set in terms of technical understanding of both industry and tax and are up to date with the current government legislation. Examples of our work include:
A UK family-owned poultry business focused on the manufacture and supply of quality poultry equipment, designed a multi-tier rearing environment for young chickens.
Libcus recovered £41,000 for the client.
Specialists in farm cooling equipment and the supply, maintenance and installation of milk tanks developed an instant milk-cooling system to meet the differing complexities of robotic miling machines.
Libcus recovered £81,000 on this project.
Other industries eligible for R&D Tax Claims
Our technical specialists regularly process successful claims in the agricultural sector. However many other industries are eligible to claim R&D Tax Credits.
For more information on other industries and examples of claims, please click on the links below:
Technology & Software
The technology sector is one of the fastest growing sectors in the UK and as such is one of the key areas for R&D tax relief:
- Cyber security & encryption
- Search engine advancements
- Linking old & new software systems
Food & Beverage
R&D has always played a part in the food & beverage industry but is constantly increasing as awareness of allergies and healthier types of food and drinks grow in demand but where taste remains a key factor.
Environmental & Renewable Energy
With the effects of climate change on our planet at the top of the government agenda, renewable energy and the protection of our environment are one of the most important areas for R&D sectors of this decade.