Are you hungry for some cash back from the government?
Innovators in the food and beverage industry can claim £s of R&D Tax Credits and Datafox can help businesses achieve their full entitlement.
As you are making new food and drinks to appeal to today’s consumers so you are missing out on a slice of cash back. Research found that a staggering 95% of businesses in the Food & Beverage world are not claiming R&D Tax Credits. The scope of claims is broad from product and manufacturing innovation to creating new advancements in IT, distribution and communication. Let’s help you claim back the £s for your innovations. Just check the next three steps and you’ll be well on your way to collecting your tax credits. Cutting edge expertise and innovation deserves recognition and remuneration.
1 What are R&D Tax Credits?
The government introduced R&D Tax Credits in 2000. The scheme allows businesses to reclaim money invested in research and development of new products and practices to encourage the UK to be at the forefront of innovation.
SMEs can reclaim up to 26% (or 33.35% if loss making) of eligible spending on R&D. You’re a SME if turnover is under £100m with less than 500 staff.
Large businesses can apply for an after-tax relief of 9.72% of eligible R&D expenditure.
The incentive to claim is high as the monetary rewards can be significant. Claims experts, Datafox achieve average R&D Tax claims of more than £50,000.
2 What R&D elements can be claimed for?
There is a broad spectrum of advancements and innovation which qualify as research and development within a company.
There are numerous eligible claims – not just the obvious innovations in new product development, ingredients, manufacture, environmentally-friendly production and enhancements. Time, money and expertise in researching and developing new solutions and knowledge, new codes and capabilities demonstrate the sheer scope and volume of R&D Tax Credit claims which are possible. Datafox experts have digested the giant HMRC tome of eligibility guidelines to steer you through to the best possible outcome.
3 The benefits of using a specialist, Datafox
You are an expert within the food and drink world while Datafox excels in the R&D Tax Credit environment. Partnering with Datafox ensures you maximise your potential claim and takes the time and hassle out of the investigation and application process. This leaves you free to create further exciting developments in food and drinks, ready for the next round of R&D Tax Credits. Enjoy the boost to your bank balance.
The next step: Contact Datafox today to check eligibility and start your R&D claim. Reclaim what is rightfully yours.