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ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / Why is Research and Development (“R&D”) Important for those in the Food Industry?
BLOG26th Oct 2021
R&D normally delivers a cash flow benefit to those innovating in the Food Industry.
The UK tax system provides companies with enhanced tax relief for expenditure on qualifying R&D activities. This relief can:
Food Industry operators normally incur expenditure that will justify a significant claim for tax relief. R&D normally delivers a cash flow benefit to those innovating in the Food Industry.
Typical areas of R&D for those in the Food Industry
Where companies operating in the food industry innovate to develop and enhance their products, uncertainties normally must be overcome. These innovative projects normally always involve R&D allowing a claim for enhanced tax relief to be possible. Summarised below are examples of areas where qualifying R&D activities have been identified in projects.
Ingredients
Utilisation of less salt/sugar in processes Utilisation of additional fresh ingredients to enhance healthiness of product Amendment of recipes to remove/reduce harmful fats Gluten free/dairy free alternatives Development / enhancement of meat replacement products
Processes
Digitising existing processes to reduce manufacturing time and wastage Improvement in processes to speed manufacture and delivery processes Amendment of chemical processes involved to deliver healthier products Amendment of processes to allow delivery of products in a fresher manner
Packaging
Replacement of plastic packaging Development of packaging that can be resealed Production of products delivered to consumers in manners easier to consume on the go Development of delivery system that keeps product fresher for longer
Environmental issues around production, storage and delivery including:
Developing/testing replacement ingredients with enhanced green credentials Considerations of manufacturing process/power changes to reduce carbon footprint Replacement of fuel used for manufacturing or delivery activities Construction of specialist manufacturing sites that meet Net Zero targets
This information is published without the responsibility on our part for loss occasioned to any person acting or refraining from action as a result of any information published herein.
The Claims Process for R&D
To find out more about the importance of R&D in the Food industry, please contact Derek Gemmell, Andrew Blair or your usual AAB contact.
How AAB can help you with
Corporate Tax covers a broad and complex area of tax legislation, so we provide a suitably broad and comprehensively experienced team to support your business with pragmatic, commercial advice. Businesses of all sizes and types, and across a wide range of sectors, benefit from our comprehensive corporate tax compliance and advisory service. We have exceptionally knowledgeable tax teams distributed across our offices, ready to support you with their wealth of experience and expertise. We can manage your global tax exposure with a coordinated response that saves you having to seek advice from separate advisors.
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