Food & Drink

It is estimated that only around 1% of eligible R&D tax claims for the food and drink industry have been paid out. So, if your business is in this sector, and you’ve not yet claimed, you’re probably one of the 99% that are missing out. Get in touch with us today and we’ll change that.

Food and drink businesses are missing out!

For far too long, there has been a perception that you have to be working in a lab, or building a new internet to be able to claim R&D Tax Credits. And that’s simply not the case at all. As highlighted by the tiny percentage of eligible food and drink businesses claiming mentioned above, this is a sector that is missing out in a big, big way.

So as a food and drink business, what exactly could be part of a successful claim?

  • Development of a new product, flavour or variety
  • Changes to the formulation of an existing product
  • Embedding new machinery or processes
  • Changes in packing or storage

And there are other areas where your food and drink business could be eligible for a claim too. The average claim we make on behalf of our clients is over £35,000, so it’s well worth getting in touch with us to discuss what you’ve been doing and if you are eligible to make a claim.

While it’s all well and good to say, “Yes, we do all of that, can we get some money, please?” the key to a successful R&D tax claim is to present things in the right way for the tax man (and fight your corner when needed) – which can be the tricky part. Knowing how to do this effectively is only something that you get better at with a lot of experience – which we’re very blessed to already have at Lumo.

Can you do your own R&D claim?

Yes, of course you can! In the same way you can  do all of your company’s accounts, marketing, sales, and everything else. It is possible. But most of the time we leave the trickier, more specialist and time-consuming jobs to the experts (by hiring them or outsourcing the work).

If you do decide to do your own R&D claims then great – we want to see more companies taking advantage of this awesome government initiative! However, if you’d like us to take a look, and make the process as easy and simple as we do for hundreds of other businesses, then get in touch and we’ll be happy to save you the time and keep disruptions to a minimum.

 

Ready to get started with your claim?

Are you ready to find out how much you could be due? You've got two options, request a callback and we will be in touch or answer a couple of questions via our eligibility checker

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