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R&D tax credits for agricultural businesses

Now more than ever before, cash flow is of utmost importance. We are seeing increasing numbers of our agriculture sector clients embracing technological advancements and seeking out scientific and technical improvements – meaning that they could be eligible to claim government-backed tax reliefs of up to a third of the associated costs.

The biggest issue is that a lot of the time companies don’t realise that what they are doing qualifies as R&D – however in this sector, there is a huge amount of science involved and that means a claim may be possible. Notably, only limited companies can apply for the scheme.

The following are just some example areas within the agriculture sector that could qualify:

ARABLE

• Improving or developing new harvesting methods
• Disease or pest protection or prevention
• Development of irrigation systems
• Improvement in crop yield
• Resistance to environmental factors
• New crop growing techniques, for example vertical farming

LIVESTOCK

• Development of monitoring systems
• Breeding programmes to improve yield or prevent diseases
• Feeding methods or meal formulation
• Animal housing and welfare

DIVERSIFICATION

• Waste reuse or repurposing
• Integration of renewable technology, anaerobic digestion plants for example

So how does it work?

Once eligible activities have been identified a company (only limited companies can apply for the scheme) may look back to the last two accounting periods for the associated qualifying R&D spend on permanent and temporary staff costs, materials used (including utilities), subcontractors and software licences.

There are two schemes under which you can apply and our team of experts will be able to guide you through the process, answer your questions and explain how we can help from the start to the very end of the process.

To find out more, please download our brochure below.

FEATURING: Stuart Rogers
Stuart is a corporate tax partner who specialises in advising fast growing and complex corporate entities, heading up the innovation and technology tax services group… read more
FEATURING: Brian Harvey
As head of PKF Francis Clark’s agricultural sector group, Brian manages a dedicated team of agricultural accountants and tax advisers. He hails from a Cornish… read more
FEATURING: Mike Butler
Mike joined PKF Francis Clark as a partner in 2019, bringing with him nearly 30 years of experience in the profession. As an experienced senior… read more
FEATURING: Sarah Boyes
After graduating from Staffordshire University with an Honours degree in Mechanical Engineering Sarah spent a number of years in industry. Starting out as a manufacturing… read more
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