Introduced by the Irish government in 2004, the R&D tax credit incentive is designed to encourage innovation and global competitiveness by allowing companies to reclaim some of the money invested in qualifying research and development.
Through Research and Development, innovative methods of brewing, crafting and distilling are generating opportunities for firms to remain competitive in the alcoholic drinks industry. Whether finding ways to increase efficiency, reduce alcohol content or discovering the perfect blend for that standout taste, R&D can help firms to develop their dominance in this industry.
Experimentation with recipes using food science and testing to show scientific equivalence despite removal of additives or allergens.
Attempting to increase product shelf life whilst reducing the use of preservatives or changing the organoleptic profile of the food or drink in question. The company must have undertaken actual experimentation and not just simply removed a preservative and found that it worked ok. Some recipe reformulation work would be expected with external testing (or internal) as well.
Recipe reformulation using food science to achieve products that either do not contain gluten or meat or lactose or something similar.
Issues associated with scalability: e.g., increasing from ‘one-off’ prototype to large volume manufacture.
Improving environmental impact: e.g., reducing material usage, waste, emissions, energy consumption, etc.
Complying and adapting to new legislation (reformulation for sugar tax for example). Investigating alternative chemicals or materials and integrating these within existing processes.
Undertaking in-depth research and experimentation to identify a matrix of knowledge as to how to vary the process for different seasonal variations.
Like above, developing methodologies to be able to establish what raw materials can be used and establishing parameters that materials must fit within. Retaining the same look, taste and texture after changing ingredients or raw materials.
Development of complex geometry components for food manufacturing. Making products more durable, more effective, with improved performance, and / or efficiency Improving the environmental impact: e.g., reducing material usage, waste, emissions, and energy consumption.
Making the manufacturing process faster, more efficient, and safer through improvements to the underlying technology or the integration of components, machinery and / or processes. Undertaking investigations to prevent products deteriorating in transit. Developing new processing methods after the introduction of new equipment.
If any of the above applies to your business and your finance team could benefit from a personal review for R&D Tax Credits, please contact us today for a No Obligation Complimentary Assessment to identify less obvious activities and assess their eligibility for the Credit/Refund.