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Research & Development Tax Credits In The Agricultural Industry

Historically the majority of agricultural businesses operated as partnerships, however with many now trading as limited companies, they have potential to claim for Research & Development (R&D) tax credits.

These tax credits are an established government-backed initiative, designed to encourage innovation and progression and in order to be eligible to make claim, you must be operating as a limited company. At EQ, we make our clients aware if they meet the criteria and have potential to make a claim.

There are a variety of projects that can be eligible, including the advancement in science, technology or undertaking activities which aim to achieve the advance by resolving scientific or technological uncertainties. These projects do not need to be successful, as long as projects are undertaken with the aim of advancement, it would be eligible for this frequently overlooked tax relief.

At EQ, we have submitted over 300 claims for our clients across all sectors, including agriculture, and have saved over £18m in tax savings for our clients to date.

For the last nine years, we have prepared R&D claims for a company which manufactures a variety of specialised machinery for the agricultural industry. You can find out more about the claims, resulting in our client receiving tax savings of over £285k, here.

There are several conditions which must be met in order to qualify (as well as trading as a company) and if you would like further information on your eligibility or to see if your projects qualify, then please do not hesitate to contact your EQ contact who will be able to assist further.

You can read more case studies on claims we’ve made in the agricultural sector, here.

For more information or advice on any matter affecting your agricultural business, please contact a member of our EQ Agriculture team via [email protected] or call 01307 474274 / 01334 654044.

Alternatively, if you would like to more information on R&D Tax Credits, please email our EQ Taxperts.

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