R&D Tax Credits in Agriculture – Daniel James Tax

R&D Tax Credits in Agriculture

It is important that there are improvements in agriculture technology so we can adapt to global factors such as the growing temperatures, climate and population growth. These concerns should be dealt with accordingly. That is why there is a tremendous need for advancements in agriculture technology.

Check if you are eligible for R&D Tax Credits

By answering the questions below we can provide you with personalised online eligibility check.

Step 1 of 6: Your Company Details

Is Your Business a Limited Company?
Research and development tax credits are only available for limited companies registered in the UK.


So… what is R&D?

Research and Development pertain to the risks. Hence, if you should make the process of research and/or development, then you could be eligible for a claim.

In this particular sector, the average value that can be claimed is more than £48,000, however, there are a lot of businesses that are not aware of this scheme.

In fact, only 5% of eligible limited companies have filed R&D claims, as a result, there are billions of pounds of tax relief that are left unclaimed each year.

What makes me eligible?

You could be eligible if you are a limited company in the UK and is subject to corporation tax. It is also essential that you have performed research and development in creating your new products or processes. You must also have spent some money on accomplishing these projects.

What are some examples of projects that can be claimed within Agriculture?

Typically, claimable projects include processing improvements, enhancing standards, software and technology as well as improved production and scalability.

The ones that we mentioned above are just some examples. Actually, the rules of R&D are not strict. In fact, they are properly done so as to refund and reward those companies who are dealing with uncertainties. Additionally, it is not necessary that your project should be successful. In fact, you can still be qualified for a refund even if your project was unsuccessful!

Did you know?

Ever since the legislation was introduced in 2002, over £27bn has been claimed from HMRC. Regardless if a company is losing, the legislation is implemented to guarantee that companies can still acquire cashback when performing any qualifying R&D works.

There is no maximum or minimum amount that the company is required to spend on their R&D projects in order for them to file a claim for R&D tax relief.