Innovation Tax Relied

[InnovateFarm]

Curious to know how many farmers are taking advantage of the Innovation Tax Relief from the government?
The average agriculture claim was £52k last year which I'm sure would help a lot of people out right now.

 

[Still Farming]

By doing what,to qualify?

 

[InnovateFarm]

By going what,to qualify?

Any form of innovation, such as new ideas/products or even just improving processes. All costs associated with those projects can be claimed back

 

[Lawless]

@InnovateFarm can a partnership claim this or must you me a limited company?

 

[InnovateFarm]

If you're a traditional partnership and pay Corporation tax then yes you would be eligible. If you're a limited liability partnership then you won't be. I'll send you a message @Lawless

 

[Agrifool]

I think it's not fair , that those of us who are not classed as a limited company cant avail of the tax relief.