Could you claim cash for innovation?
Agriculture is the oldest industry in the world, yet as many of you will know, technology is becoming more important in farming than ever before.
Agritech is exploding as a sector, as the world comes to recognise the enormity of the challenge facing us: how do we feed a growing global population, with ever-dwindling natural resources?
This is where innovators are so vital – innovators like you. If you’re wondering whether your work could be classed as innovation or agritech, we’re here to tell you that if you’re developing a solution to a problem, the answer is probably ‘yes’.
Among the many SMEs that we help to claim R&D tax credits – or ‘cash for innovation’, as we like to call it – is a growing number of agriculture-related businesses. We’ve helped everyone from pig and sheep farmers, to soft fruit, vegetable and plant producers, to pest control, soil and seed specialists.
The diverse projects that have successfully claimed R&D tax credits for their innovative activity include: developing new processes for picking and packing fruit; trialling more effective but eco-friendly pest control solutions; experimenting with feeding and grazing methods to increase milk yield; and trying to improve crop yield by altering soil pH and nutrients.
You don’t need to get your hands dirty to qualify as an agritech project, though. We’ve had clients who have claimed back cash for innovation for their work developing bespoke logistics, CRM and stock control systems.
Taken in the form of a cash payout or future tax relief, R&D tax credits are the Government’s way of supporting businesses that are building the industry of tomorrow. Breakthrough Group was named the UK’s Best Independent Tax Consultancy 2019 at Tolley’s Taxation Awards so, get in touch with us today on 0800 772 0800 or email@example.com to find out if you could claim.
Watch the Breakthrough Group video here