Business type: small local cafes
R&D Project: creation of new vegan and gluten free range of their products.
Number of years claimed for: 1 year
Total Value of Claim after fees: £5450
The R&D tax credit scheme is an HMRC incentive created to inspire and reward limited companies for their innovation and development of their industry.
If you are a UK based café owner that has spent time and money for innovation and product development, you may be eligible to claim R&D tax credits. At JGBC, we have experience dealing with HMRC, we speak their language in our reports and can use our expertise to explain the HMRC regulations to you to make the whole process easy and simple.
Examples of qualifying activities:
- Creating more visually appealing products
- Creating products with added nutritional value
- Developing processes for trans-fat elimination
- Developing commercial oven technology
- Developing new packaging designs to provide enhanced functionality or improved product shelf life
- Scaling up production to an increased volume output
- Making an existing product taste the same, but with lower sugar or salt content
- Creating a new high-protein, palm oil free, gluten-free or vegan product range and developing new menu
- Creating and developing technology or equipment that reduces waste, pollution or improves efficiency
What can be claimed?
- Direct staff costs
- Raw materials/ingredients
JGBC step-by-step R&D process:
- 15min R&D discovery call – a call to discuss your business operations and check if you qualify for R&D tax credits.
- Accounts review meeting – our R&D expert will arrange a meeting with you to look into your accounts and determine what exactly can be claimed.
- Generating a claim report – we will create a detailed report for your claim ensuring HMRC understand your objectives and justification for your R&D claim.
- Submitting your claim to HMRC – once you are happy with your technical report, we will submit it to HMRC.
- Receiving your funds – it will normally take up to 6 weeks for you to receive your claim amount provided the claim is successfully processed.
Please note, JGBC has a no win no fee approach to R&D Claims and our fee is competitive at 25% of the realised relief compared to the industry average of 28-33%. Feel free to contact us any time to get more information about your R&D eligibility. With our expertise in taxation, we will also advise you how you can put the funds from your claim back into your business.