Food and Drink R&D Tax Relief
The development of food and drink has been around since time began; this doesn’t mean that new advances are not being made every year.
As new diets are researched in greater detail, allergies and their causes are understood further, the evolving commercial nature of on the go food or uniquely tasting drinks companies are undertaking more and more R&D. R&D which could qualify for R&D tax credits.
These development projects are not just everyday activities, they are activities which probably qualify for R&D tax credits reducing the cost of funding the projects by up to 25%.
If we consider a few examples,
- Ready meals, these are known to be generally unhealthy. Many companies are devoting time and research to, piloting of development samples, scaling up development and even consumer testing of newly developed alternatives which offer for example, less preservatives, lower salt content, gluten free ingredients.
- Allergies and their cause and effect are constantly being researched by medics. With a rise in diagnosed dairy and gluten intolerances, many companies are seeking to provide a commercially competitive product eliminating such ingredients, whilst not compromising on taste and usability.
- Shelf life. Food wastage is a concern and the rate at which foods deteriorate can be due to numerous variables e.g. processing techniques, storage temperature, packaging solutions. Development of increased shelf life solutions through R&D often will qualify for relief.
- Scaling up of kitchen tests. Many foods are capable of being made in small kitchen tests environments. However, the scaling up of the process where tonnes as opposed to a few kilos of ingredients are being processed is often a development programme in itself.
Does your Company Qualify for R&D Tax Credits?
Although food and drink technology has been around since the start of time, new technologies and scientific advancements result in the Food and Drink industry ever evolving to accommodate the latest research and understanding of what the consumer wants. To find out if your company could qualify contact R&D Tax Solutions in Manchester today on 0161 298 1010