R&D Tax For Food & Drink Industries

Did you know that despite the ongoing advancements in the food and drink sector, many businesses are missing out on valuable R&D tax credits?

Only a fraction of eligible R&D costs are claimed, leaving significant opportunities untapped.

At Lumo, we understand that innovation extends far beyond traditional laboratories.

Whether you’re experimenting with new flavours, optimising production processes, or enhancing packaging solutions, your efforts in the food and beverage industries may qualify for R&D tax relief.

Innovation in Food and Drink Sectors

The landscape of food and drink is constantly evolving, driven by factors such as changing dietary preferences, health considerations, and sustainability concerns.

From developing healthier alternatives to addressing allergies and improving shelf life, businesses in this sector are engaged in a myriad of R&D activities.

What Constitutes a Successful Claim?

As a food and drink business, numerous activities can qualify for R&D tax relief, including but not limited to:

Development of New Products, Flavours, or Varieties: Innovations in product lines demonstrate a commitment to R&D.

Formulation Changes: Adjustments to product recipes or compositions to enhance quality or meet consumer demands.

Integration of New Machinery or Processes: Implementing cutting-edge technologies or refining production processes.

Packaging or Storage Innovations: Improvements in packaging materials or storage solutions to prolong shelf life or enhance product freshness.

Moreover, there are various other avenues where your business may be eligible for a claim. Exploring your eligibility can lead to significant financial benefits.

Expertise That Makes a Difference

Making a successful R&D tax claim requires more than just identifying eligible activities. It demands a thorough understanding of HMRC guidelines and the ability to articulate how your projects meet the criteria for relief.

Our team at Lumo specialises in navigating the complexities of R&D tax credits for food and drink businesses. With our expertise, we can help you make the best strategic use of R&D Tax Credits.

Exploring Eligibility

From ready meals to allergen-free alternatives, every aspect of food and drink development presents opportunities for R&D tax relief.

Whether you’re a small-scale producer or a larger enterprise, there are avenues for claiming relief that can significantly impact your bottom line.

By leveraging R&D tax relief, you’re not only reducing the cost of innovation but also fuelling the growth and competitiveness of your business.

Let Lumo be your trusted partner in harnessing the full potential of R&D tax credits for your food and drink ventures.

Connect with Us Today

Ready to take advantage of R&D tax relief for your food and drink business? Our expert team at Lumo is here to guide you through the process and tailor our services to your specific needs.

Together, let’s drive innovation, growth, and success in the dynamic world of food and drink. Don’t let valuable opportunities slip away – reach out to Lumo and embark on a journey of financial empowerment and innovation today.