Talk to the Taxperts

01382 312100

R&D – Agriculture

Sector – Agriculture, Food and Drink
Company Size – £8.5m Turnover
Qualifying Costs – £221,031

Our client is involved in growing soft fruit and vegetables mainly for sale in supermarkets. The business was set up following a business restructure after detailed consultation with EQ. Incorporation has allowed R&D claims to be prepared.

What type of work does the company do?
The R&D work undertaken covers a series of objectives such as:

  1. Extension to the traditional growing season
  2. Use of minerals to enhance the flavour and health-giving properties of the foodstuff
  3. Perfect flavour and presentation of crop
  4. Slow sugar release to enhance flavour
  5. Different growing conditions

What R&D work was completed?
With fresh produce, bringing a product to market usually requires one or two seasons where test acres are assessed for quality of crop, look, flavour etc. Supermarkets are highly demanding in the crop required for customers and the company therefore trialled a series of different varieties, natural and artificial growing conditions and the right mix of minerals and chemicals to satisfy both the customer and health and safety guidelines.

What was the outcome?
As a result of the R&D claim, our client received tax savings of £54,595.

Related Case Studies

Download our EQ app and keep up to date with tax news, changes and have access to our EQ Portal, tax calculators and key tax dates at your fingertips. Click on the relevant button on your device to download our free app.

Visit EQ Accountants Visit EQ Accountants

Explore the full range of EQ Expertise

acca
CA
icaew
the-charteded-institute-of-taxation-logo

2020-innovation
cherries
ACC 2019 LOGO Finalist