Agriculture What we do for agricultural businesses
Overview
You may not instantly associate the agriculture and forestry sectors with R&D, but many are using innovation to improve efficiencies, reduce waste and develop new products and recipes to grow their business in more ways than one.
However the one stumbling block for some in claiming the relief is how they are structured, with some still owned as a sole trade or through partnerships, so they fail to meet the criteria of being subject to Corporation Tax – however all is not lost if there is a corporate member of the partnership. However with the next generation of farmers coming through, more of these structures are being incorporated and now able to benefit from the regime.
With a lot of farms diversifying their income streams as they look for new and innovative ways of improving their processes and quality of produce, R&D is more prevalent than you might initially think in the sector.
Examples of R&D activity within the agricultural sector include:
– Developing new techniques to improve the quality of crop growth
– Livestock feeding trials – time, type and rations of the feed
– Developing machinery and processes for water retention and soil erosion
– Developing new fertilisers or pesticides to improve the harvest
– Appreciably improving processes and machinery to reduce costs/increase efficiency
– Activities undertaken to improve soil quality
– Selective breeding to optimise genetic traits in livestock
£45k
average SME claim in the agricultural sector
1%
of all claims in the UK
BESPOKE TRAINING
We provide training, tailored to your business, that improves your understanding of the scheme to strengthen knowledge or awareness of R&D tax credits.
QUICK AND SIMPLE
Our straightforward, jargon-free process ensure claims are robust against any HMRC scrutiny and improves or sets up internal processes to make future claims more efficient
FRESH IDEAS
Our forward-looking team embraces new ideas to deliver incredible tax savings coupled with expert approachable tax advice.
The Zeal Guide to R&D Tax Relief
Everything you need to know to make a claim for R&D tax credits.
Our team is made up of chartered tax advisors and agricultural sector specialists.
All your needs covered from one-off consultancy projects to a fully managed claim service.
We never promise to increase your claim, but we guarantee we'll maximise it.
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Article: R&D Qualifying Expenditure
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When looking at eligible expenditure for R&D Tax claims there is one category that often strikes initial confusion – EPW’s. EPW stands for Externally Provided Workers, which still doesn’t shed too much light on what they are as it’s a phrase that doesn’t exist outside the world of R&D Tax.
Read in fullReady to make a claim? Let's start with a chat. We’d love to hear from you and learn about your business.
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