Can Food Businesses Claim R&D Tax Credits?
The food and beverage industry is alive with energy and innovation! With so many companies vying for consumer attention, it takes something truly special to stand out from the crowd. That’s where R&D tax credits come in.
This government initiative rewards companies for investing in innovation, which means that you could receive R&D tax credits for developing new products, improving nutritional value, or streamlining manufacturing processes.
If your food and beverage business is working on innovative, forward-thinking projects, then get in touch with us here at Goldhill Consulting via the button below to see how we can help you.
Who Qualifies for R&D Tax Credits in the Food Industry?
If you’re working on producing a new product or improving an existing one, then you may qualify for R&D tax credits. In addition, improvements to the manufacturing, packaging, and delivery processes may also be eligible. In all, there are usually more products eligible for funding than many food and beverage businesses realise. Some examples of projects that could qualify for food manufacturing R&D include:
- New product development.
- Improvements to the food manufacturing process.
- Modifying existing recipes to improve health, sustainability, or taste.
If you’re working on a food manufacturing project, it’s best to work with R&D tax relief consultants like us here at Goldhill Consulting. To get in touch, simply use the button below to send an enquiry.