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R&D – Agriculture

For the last 9 years, we have prepared research and development claims for our client who manufactures a variety of specialised machinery for the agricultural industry.

How we helped our client

Each year, we prepare and submit a report to HM Revenue and Customs, with the guidance of the client’s engineering team, covering the various projects which have been undertaken in the previous 12 months. Some projects have progressed from initial plans to completion, including a variety of projects which changed from their original plans as they progressed.

In some years, the uplift in the Research and Development costs has meant that taxable profits have been reduced, and in other years losses were created.  These losses have been able to be carried forward to be used against future profits or carried back where possible.  In other years, the tax credit option was available which resulted in valuable cashflow advantages to the company.

What was the outcome?

Over these 9 years, our client has received tax savings of over £285k.

For more information or to discuss further, please contact the R&D Tax Credit Taxperts.

Alternatively, if you require support or advice on any agricultural matter, please contact a member of our EQ Agriculture team via [email protected] or call 01307 474274 / 01334 654044.

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