Datafox specialises in R&D Tax Credits for the CBD Industry
Datafox specialises in delivering R&D Tax Credits for those within the CBD industry.
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The hemp or Cannabidiol (CBD) industry is gradually becoming one of the fastest-growing agriculture-based sectors in Europe and the UK. Not only that, but hemp cultivation has also caught speed in the United States where new and improved CBD products that are safe and effective, are regularly introduced into the growing CBD market. Such is the demand for CBD products that the global CBD market is estimated to grow to US$2.17bn by 2023. Regardless of the country, CBD is being used to produce food, drinks, cosmetics, and skincare products that are offer a range of health benefits. Some of these benefits include pain relief, improvement of the heart and circulatory system, reduction in anxiety and depression levels, and reduction in spots and acne.
Although Marijuana, the plant from which CBD is derived, is widely considered a highly addictive drug, CBD products are legally sold and accepted in the UK, as they do not produce any “high” after consumption. The CBD industry is constantly evolving with new products being developed and manufactured fairly routinely after conducting R&D. Even so, many businesses involved in the research, production, or distribution of hemp or CBD products, are unaware that their innovation could help them get R&D Tax credits from the government. Some of the areas of R&D which could qualify for R&D Tax refund include:
- New CBD product development
- Development of new extraction, manufacturing, or production techniques and technologies
- Introduction and testing of new ethical and/or legal consumption of CBD infused food and drink products, skincare, or cosmetics
- Testing and improving the efficacy of new and existing CBD products
- Developing new packaging methods to improve shelf-life
Why Choose Datafox for CBD Products Related R&D Tax Credit Claims?
Datafox specialises in making R&D Tax credit claims for businesses within the CBD industry. Our experts have the knowledge and experience to identify all eligible opportunities within your R&D, so you can receive maximum cashback for your innovation. We work on a NO-WIN-NO-FEE basis and charge you no upfront costs, so you get honest and efficient claims service, always.
Innovative CBD Products
Innovation is the driving force behind growth and development in the CBD sector. It sees extensive innovation at various stages in cultivation, production, processing, and distribution as an upcoming industry. Regardless of which stage your business is within the cycle, it could be eligible to receive substantial pay-out that can help you take your R&D further. To learn how our tax experts can help you, get in touch with us today!
Ready to apply?
If you’re ready to apply for your R&D tax refund, please call us on the freephone number below or use this contact form and one of our helpful team will be in touch to help.
By completing the above contact form you consent that Datafox can contact you with regard to an R&D Tax Credits claim and use your details during any future claims.
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SKNHEAD Case Study – Impossible Made Possible
Innovation and versatility are not easy to achieve when it comes to cosmetics, but SKNHEAD managed to attain both in their exclusive range of unique male skincare and grooming products. Developed with tireless precision by celebrity hairdresser Adee Phelan, the SKNHEAD range includes a variety of grooming essentials for men such as a shampoo, styling clay, a toner, hair pomade, a hair styling spray, a foaming cream and the most cutting-edge 4-in-1 skin moisturising and hair treatment cream designed to work on tattooed skin, face, beard and hair.