Expert Opinion: R&D tax credits – Are you eligible?

By Ilyas Patel, 

 ‘Healthy, natural and better for you’ are terms and phrases that we are increasingly hearing, with health and wellness being used to position products in the market. It is a big reason for companies to innovate.  

The science and taste based approach is evident in the sector in response to changing consumer tastes – with a switch to healthier products, a change in product portfolios, and recipe adaptations.  

Fermented and probiotics are making their way into a variety of foods and drinks. Plant-based options are also infiltrating foods like pizza crust made with cauliflower and butternut squash, chickpea pasta and bread fortified with beets and carrots, vegan and allergen free options.  

Research and Development Tax Credits are available for companies looking to innovate their existing products, develop new products, provide healthier, vegan friendly and allergen free options. If you answer YES to any of the questions below, it is likely that you are eligible to claim R&D tax relief: 

Does your company file Corporation Tax? 

Does your company employ staff? 

Has your company developed a new or improved product, service or process? 

Are you a Small or Medium sized Enterprise (SME)? 

We are a Strategic Partner with FDMB North West and are specialists in optimising Research and Development tax credit claims. We have a 100% claim success rate and operate on a success fee basis only. For a free consultation to determine the size of your claim, please call Ilyas for an assessment or visit our website for an online calculator to show you the size of your R&D claim.  

Contact us today on 01772 788200 

Case Study: Vegan Products  

This is one of the many reasons why a company developed a product range that aims to supplement the demand for vegan products that is surprisingly palatable and it also inspires healthier choices. Their vegan honey is a mushy, sticky, sweet and yummy sweetener developed from premium quality brown rice syrup. It is an alternative for vegans, environmental-friendly people, animal lovers, and those who are conscious of their ordinary sugar intake. The scope of their eligibility was identified through our brainstorming session with directors and key members of staff. After 28 days of our technical report and calculations being submitted to HMRC, the company received the £16,500 cash refund.