Agriculture, Forestry and Fishing

R&D Tax Credit Examples, Hints & Tips To Maximise Value
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Agriculture, Forestry and Fishing

The future of Agriculture, Forestry and Fishing can benefit from R&D Tax Credits. With warmer temperatures, population growth and drier soils it would be a shame if the sector was not to take full advantage of the government’s incentive. There are many activities which companies don’t think as R&D in the Agriculture, Forestry and Fishing sector that are eligible for submitting a claim.

 Have a look below to see examples of what counts as R&D in Agriculture, Forestry and Fishing. If your company has invested time, resources and money into the development of technology and software, there are likely claims to be made. 

4 Project Examples

Below are project examples that would qualify for R&D tax credits in agriculture, forestry and fishing

Counting King Manufacturing Sector Specific R&D

Development

With heavy digitalisation of machinery, it is common for manufacturers to claim for development instead of research. If you are working on making your current production processes more efficient, you may be eligible to claim!

ERPs

Digitisation is your R&D friend. Many manufacturers use software such as Oracle or SAP which are often customised to your specific project. Those customisations might grant you a heavy tax relief if they advance your field of work in a new way.

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New technology

If you have developed technology and you've done extensive work to implement it to your older system, you can claim for this! You can encounter many obstacles on your way and require experts to support you in this development, this is the definition of R&D!

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Sustainability

If you have developed a new way of operating that decreases your carbon footprint, you might be eligible under the R&D Tax Credit incentive.

Costs Which Don't Qualify

Sometimes the parts you may think qualify, don’t. Here are some examples of what doesn’t qualify in the agriculture, forestry and fishing.

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Rent

Rent does not qualify for R&D Tax Credits under any circumstance

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Prototypes

If your company has developed a prototype but you aim to sell it on to a client, you will no longer be eligible to claim R&D expenditure for that prototype

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Patent Costs

The cost of applying for a patent 'IP intellectual property' is not able to qualify under R&D Tax Credits

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Purchasing Land

Purchasing land is another cost which will not qualify for the incentive. So for example, if you purchased land to develop the idea the land will not be allowed to be claim for

How much could you receive in

Agriculture, Forestry and Fishing R&D Tax Credits?

Use our free calculator today and you could have a significant benefit amount within 28 days!

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Download our R&D Tax Relief Information

Find out how simple it is to claim R&D Tax Credits in the Agriculture, Forestry and Fishing sector 

Start Your Claim With Counting King Today!

Don’t hesitate on starting your claim. The government would like to say well done for your innovate hard work so check if you could be entitled to the money they are offering to support your business. With the Counting King simple process, we will go through if you are eligible and if you are we will go through the process and work out the amount you can claim.  It is a process we are experts in and will take the lead on producing for you.

We have you covered!

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Quick Q&A

In short, yes. The best thing to do is to figure out how much R&D you are doing, you should then be able to assign a proportion of your light, heat, water and power that was used for your R&D and amend your claim accordingly. 

One of the biggest portions of claims for the Research and Development tax incentive is circled around staff costs. Whether that might be people directly involved within the R&D or others who might be indirectly involved.

No, you do not need to create a new product to qualify for R&D Tax Credits. For example, if you made an advancement to a piece of machinery that meant you could either manufacture something much quicker or with decreased carbon footprint, those are the kind of costs you could claim for. As long as the amendments are bespoke and improve your whole sector, you can claim for costs incurred during your R&D process. 

In 2020, there were only 555 claims processed by HMRC for the Agriculture, Forestry and Fishing sector, but on average you could receive £45,045 for your successful claim based on current statistics.

Where do we start? You can claim for:

  • New machinery creation
  • Innovating new packaging options
  • A portion of your utilities bill
  • Subcontractors (up to 65%)

Yes! You are able to claim for unsuccessful projects as this falls under the ‘uncertainty’ you faced during the Research and Development you undertook.

Examples of uncertainty for R&D are;

  • Fixing an issue with machinery that does not meet your manufacturing requirements, however coming into an issue when doing so
  • Managing environmental factors, decreasing your carbon footprint during your manufacturing process 
  • Adaptations and amendments in current products and/or services that didn’t go as anticipated and still needs to be amended

Find more about R&D in your sector!

Depending on your company size, you may qualify under the RDEC scheme (Research and Development Expenditure Credit) or under SME incentive (Small Medium Enterprises).

Find out more about your eligibility today.

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