R&D Tax Credits in the Food & Beverage Sector
The Food & Beverage industry is the UK’s largest manufacturing sector. Research and Development has always played a part in the 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.
Could you qualify for R&D Tax Credits in this sector?
Qualifying Examples of R&D Tax Credits in the food & beverage sector
The R&D tax credit scheme rewards any company whose work seeks to resolve a ‘scientific or technological uncertainty’. Qualifying activities may include:
- Development of new products to cater for market trends e.g. sugar free, dairy free, vegan etc.
- Creation of new machinery & equipment for food production and testing.
- Activities to scale-up product samples from test kitchen to production line.
- Improving existing production processes to increase efficiency and reduce waste.
- Development of new packaging solutions to extend shelf life.
Our work in the food & beverage sector
A UK spring water company developed an innovative filling and packing process for bottled water using bottles and closures made from a renewable plant source, without compromising on taste.
Libcus recovered £37,000 for the client.
An East Asian-inspired food company which focuses on fast food shops and restaurants, reduced the level of sodium in a sponge product without compromising on the taste, texture or shelf life.
Libcus recovered £149,000 for the client.
Other industries eligible for R&D Tax Claims
Our technical specialists regularly process successful claims in the food and beverage 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
Manufacturing
The importance of a successful manufacturing industry lies at the heart of any economy, and today more than ever flexibility in adapting to ever changing customer requirements is vital for future prosperity.
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.
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