R&D activities in Agriculture.
Typically, activities that qualify will aid the advancement of knowledge or capability in the business and wider industry.
These activities might be regarded as day-to-day for an agricultural business but can potentially be included within an R&D claim.
What types of activities qualify then?
Qualifying activities are wide-ranging but will depend on a number of factors, such as the level of technical uncertainty, the level of design input and responsibility, and the level of risk.
However, in all cases, there should be an advancement of knowledge or capability in the sector.
Examples of the types of projects we have seen qualify include:
- Integration of new automation smart software
- Taking new steps to improve crop & animal performance, yield and disease resistance
- Developing maintenance planning to improve soil and land quality
- Animal genetic improvements through selective breeding
- Reducing environmental impacts and improving sustainability
- Development of new machinery and components or adaption of existing
These projects do not need to be successful in order to qualify for R&D tax relief.
What costs can I claim?
We can review your incurred expenses to determine how much you have spent on qualifying R&D.
Some examples of the types of costs you can claim include:
- Payroll Staff who were involved in the trials, prototyping and testing of the projects.
- Cost of materials included in early prototypes or failed produce that could not be sold.
- Specialist subcontractors or consultants that you brought into the business to analyse and improve your processes and projects.
Claims can be made by both profit and loss making Agricultural Companies.