BELOW ARE JUST SOME OF THE INDUSTIES THAT COULD QUALIFY:
FOOD INDUSTRY
The food and beverage industry is constantly faced with increasing costs of fuel, raw materials, regulatory changes whilsst having to keep their prices competitive to enjoy and make the most of their market share. More than often than not, these rising costs actually stem from R&D strategies to develop new products relating to cost reduction, food safety, dietry guidlines and sustanable resources.
financial services
Contrary to common perceptions financial companies are actively engaged in R&D activities.
Insurtech is a relatively recent term in the insurance industry, but the use of new business activities enabled by digitalisation has meant opportunities for providers to maximise their cost savings and enhance efficiency when compared with the traditional industry model.
There’s a strong conviction behind the insurtech companies which is driving disruptive, innovative ideas, and the only resource lacking in many cases is the capital required to invest in some serious research and development leading to further innovations and benefits for customers.
When it comes to insurtech R&D, what we’re talking about is the range of activities whose primary purpose is to investigate and make commercially viable genuine enhancements compared with existing technology.
HEALTH
The UK healthcare sector is one of the major beneficiaries of R&D credit tax. It is actually the second largest R&D tax credit beneficiary after the electronics and computing sector. One of the reasons why the health sector is one of the biggest and most sensitive industries is because a large amount of effort is required in making the sector a success.
I.T & SOFTWARE
The integration of new Software & IT technology into another industry sector is considered an eligible R&D activity
AGRICULTURE
Why aren’t Agriculture companies claiming R&D Tax Credits? In broad terms, we have come across some main reasons why companies in the agriculture sector are not claiming their R&D tax credits:
• They don’t realise the scheme exists
• There is an assumption that it only applies to science and technology companies
AVIATION AND AEROSPACE
This is a crucial time in the evolution of our aviation system. Airlines' changing business models are requiring more efficient and cost-effective operations. General aviation operators are seeking to tap into some of the safety solutions that have worked for commercial aviation. The public wants an enhanced air travel experience as well as reduced aviation impacts to the environment. Meanwhile, advances in technology have brought forth new vehicle types and new users.
COSMETICS
The cosmetics industry continuously seeks to transform the way in which the sector performs, in order to produce safer, healthier products with enhanced performance through formulation modification and process optimisation.
DENTISTRY
The dental profession is an untapped market when considering a claim for Research & Development (R&D) Tax Credits. If you are involved with dental innovation or seeking an advance in dental technology your business is entitled to this attractive tax relief. Surprisingly 94% of the dental clients are claiming for the first time.
ENGINEERING
In order to run a cost-efficient and economically sound business, those in the engineering sector need to understand not only how to make products that sell, but how to utilise the many tax rules and regulations that govern the industry.
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