RESEARCH & DEVELOPMENT FOOD AND BEVERAGE

If your business has been focusing on improvements to flavours, shelf life, and nutrition, it’s likely that you’ll qualify for R&D incentives relief.

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If you’re a food or beverage manufacturer and you’ve recently developed new products, improved existing ones, or even enhanced your packaging – there is a strong chance that you could benefit from a Research and Development (R&D) Tax Credit claim or you could receive more than you’ve already claimed for.

The food and drinks industry never stands still and companies are continually looking to enhance their products. Whether it be ensuring that they keep up with the latest customer trends, deliver foods that taste great, or developing sustainable packaging that keeps food pristine, there is always a project to keep the New Product Development (NPD) teams busy.

Investing in R&D can help you create new products or improve existing ones by looking at ways in which you can claim up to 33.35% cashback on qualifying R&D spend.

R&D TAX CREDITS FOR THE FOOD AND BEVERAGE INDUSTRY EXPLAINED

The UK government wants to reward and fuel research and development in the food industry. If your business has been focusing on new product development, including improvements to flavours, shelf life, and nutrition, it’s likely that you’ll qualify for R&D incentives relief.

With so much news in the press about increased obesity rates and changes in legislation to sugar content, now is a great time to receive cash incentives to make improvements to your existing product range.

Further developments may also be eligible for R&D incentives.

WHAT TYPE OF FOOD AND BEVERAGE PROJECTS CAN QUALIFY FOR R&D TAX CREDITS?

A broad range of engineering projects can meet the Government’s R&D definition, for example:

MANUFACTURING FOOD

PACKAGING

WHY IS RESEARCH & DEVELOPMENT IMPORTANT IN THE FOOD & BEVERAGE INDUSTRY?

We speak to so many businesses that don’t feel like they qualify for relief. They think they’re “simply doing their day job”. We think the name ‘Research & Development’ is misleading. It makes people think of lab coats, test tubes, innovation centres.

In reality, R&D pretty much comes down to two qualifying criteria: 1) you’ve made some changes/improvements to your product or manufacturing process; and 2) these changes weren’t obvious or easy and you didn’t know exactly how to make them work from the off.

So, have you ever improved a product? Have you developed one further? Changing ingredients to improve the nutrition of a product could qualify too. And if you’ve made improvements and could quite easily say, “those changes took some thought, some time, and some testing,” it’s time for you to consider your eligibility to claim R&D incentives’

WHY COOPER PARRY?

In three years we’ve put more than £61 million back with businesses. We’ve obtained in excess of £3 million for companies that had already claimed. And we’re a member of the government’s Research and Development Consultative Committee,

Our experience and dedicated R&D incentives specialists means we know what to look for and we know where to find it.

Rebecca Prince
Tax Senior Manager

Get in touch with Rebecca Prince

Reviews

JOHN, MAY 24

“Everything runs sweet, but the R&D this year was a little below par.”

PETER, JUN 24

“You exceeded my expectations.”

RYAN, MAY 24

“Communications were great and they helped me every step of the way. This was the first time doing an audit and Will and Andy helped me every step of the way. We also put a lot of pressure on Cooper Parry to help us get this submitted in time and they went above and beyond at every step.”

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ANNA, MAY 24

“We have been going through a difficult period at the school which made our 2023 audit very challenging. The team at Cooper Parry showed a high level of empathy and understanding and worked with us to help facilitate a smooth audit process which we are very grateful for. They have continued to offer support throughout the year following offering advise and alleviating any concerns that we have had regarding the financial impact of the school’s situation. We would highly recommend them.”

TRICIA, MAY 24

“Accounts prepared within deadline with minimal changes.”

STEPHEN, MAY 24

“Adapted year end audit timetable to fit our business needs. It also felt like we worked together with CP to achieve the audit conclusion to time successfully.”

DANIEL, MAY 24

“Audit was the best it’s been for FY23.”

PETER, MAY 24

“Very diligent and responsive during the audit. The end could have been tighter.”

RALPH, MAY 24

“Results were in line with expectations.”