Chartered Accountants
R&D – Food and Drink
Sector – Food and Drink
Company Size – £18m Turnover
Qualifying Costs – £114,949
Our client operates within the food and drink sector and has been diversifying its product range. This company was an existing EQ client, with the R&D opportunity being identified through the Engagement team’s growing knowledge of the company’s activities.
What type of work does the company do?
The company has been reformulating recipes and production methods in a bid to produce drinks that are healthier– by for example having less sugar and fewer additives – while maintaining and/or improving taste and/or reducing unit costs.
Why was the R&D work completed?
The food and drinks industry is extremely competitive and continuously evolving. With the upcoming ‘sugar tax‘ the sector is having change forced upon it, but our client views this as an opportunity by researching and developing a healthier way forwards.
What was the outcome?
As a result of the R&D claim, our client received tax savings of £30,000.
