R&D Tax Credits
R&D Tax Credits can be a vital source of extra income and if your claim is successful, processed and paid in up to 8 weeks.
Many businesses in Scotland and the hospitality sector, generally, are unaware that they are eligible for this funding, which can be claimed against spending on research and development in a wide range of areas. Article by Insider Publications Ltd.
R&D tax credits aren’t just for very high-tech enterprises conducting advanced research. Please do not hesitate to contact us right away for a 15 min discovery call to see we can help you with your Hospitality R&D Claim.
A successful claim can mean your business receives, either a cash payment or a reduction in Corporation Tax. Less than 1% of all the R&D claims received by HMRC every year, are from the hospitality sector. Please consider activities focussed around process improvements, innovation and business progress.
Food & Beverage Examples –Improving the texture, taste and nutrition of F&B formulations. Testing sustainable or new ingredients. Creating new samples within a test kitchen environment. Micro-Brewery technologies. Meat-curing techniques.
Process Improvements Examples –Introducing new methods that will reduce costs and improve productivity or service consistency. Improvements to equipment and machinery to ensure food and drink is handled safely. Improvements in customer safety within venues.