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.

Get In Touch

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.

GET IN TOUCH WITH REBECCA PRINCE

Rebecca Prince
Tax Senior Manager

GET IN TOUCH WITH REBECCA PRINCE

Our Experts

Reviews

MICHAEL, NOV 21

“You did what you were supposed to, but did it pretty well.”

WILL, APR 23

“Great communication. Quick to reply to questions.”

PAUL, JAN 24

“Great service and always timely communication. I feel we have a partner supplier rather than just an auditor”

MEGAN, FEB 24

“We always get a quick reply whenever we have an issue or a query. It was a very good team of auditors that undertook our audit once again – a mixture of continuity and some new faces – and accommodating our tight reporting deadline was much appreciated”

MATT, FEB 24

“My first encounter with the CP audit team and I was impressed. Calm, reliable, organised and ultimately professional. Understanding and sympathetic to our circumstances and keen to work with us to achieve an outcome”

JAMES, FEB 24

“Smooth audit with knowledgeable and friendly staff. I have received great input from both audit partner and manager in my first year as CFO. I have appreciated the pragmatic and flexible approach”

PAMELA, JAN 24

“Robust communication. Excellent support. Supportive business partnership”

MICK, JAN 24

“Always prompt with accurate advice and accounts. Cannot think how you can improve”

MARION, JAN 24

“Audit processes work very well with Inflo and supported well by phone calls or Teams calls throughout the audit process. Outside of audits, advice on any matters financial is usually quick and helpful and never appears to be too much trouble. Any of the audit teams we have worked with throughout the years have always shown the same friendly professionalism that is supportive, fair and informative, which is crucial when and if things don’t always go to plan or unexpected outcomes occur. Thank you very much”

JADE, JAN 24

“The team are always responsive and their approach to audit is refreshingly solution orientated. I already refer them on a regular basis”