Tax Relief Claims - why is the Agriculture Sector not claiming ?

[Rob Sinclair]

The Agriculture Sector only claims 0.2 % (HMRC) of the total R&D Tax Relief claimed by UK businesses.

Farmers and growers face many challenges in achieving consistent quality and high yields,
believe it or not this work is actually eligible for Tax Relief, and you should be claiming !

Kind regards
Rob

 

[PSQ]

Most of the R&D costs of farming at farm level are already covered by capital allowances and tax deductible labour costs.
Where we really would benefit would be if we were able to set more than the currently allowed 2% pa against 'buildings' which is utterly crap, even with fixtures and fittings taken off.
But if you can tell us how to legitimately reduce tax bills we'd be all ears.

 

[Lazy Sod]

I would have thought that almost all of agricultural research was not done by farmers.

 

[Lawless]

The Agriculture Sector only claims 0.2 % (HMRC) of the total R&D Tax Relief claimed by UK businesses.

Farmers and growers face many challenges in achieving consistent quality and high yields,
believe it or not this work is actually eligible for Tax Relief, and you should be claiming !

Kind regards
Rob

Can partnerships claim or is it just limited companies?

 

[ColinV6]

Most of the R&D costs of farming at farm level are already covered by capital allowances and tax deductible labour costs.
Where we really would benefit would be if we were able to set more than the currently allowed 2% pa against 'buildings' which is utterly crap, even with fixtures and fittings taken off.
But if you can tell us how to legitimately reduce tax bills we'd be all ears.

Totally agree on this. Doesn’t make sense to just have it on Machinery.

 

[D14]

The Agriculture Sector only claims 0.2 % (HMRC) of the total R&D Tax Relief claimed by UK businesses.

Farmers and growers face many challenges in achieving consistent quality and high yields,
believe it or not this work is actually eligible for Tax Relief, and you should be claiming !

Kind regards
Rob

Can you elaborate a bit please because it looks very unclear what you are suggesting. What figure is classed as 'high yield' and 'consistent quality'. How is it actioned and who sets the levels?

 

[Rob Sinclair]

Most of the R&D costs of farming at farm level are already covered by capital allowances and tax deductible labour costs.
Where we really would benefit would be if we were able to set more than the currently allowed 2% pa against 'buildings' which is utterly crap, even with fixtures and fittings taken off.
But if you can tell us how to legitimately reduce tax bills we'd be all ears.

"Thank you, you have highlighted the issue that Farmers are generally unaware that R&D Tax allowances, are separate to capital allowances and tax deductible labour costs" and should be being claimed.
We work with many farmers who are making substantial claims for changes in their farming methods, product development,management of pests using bespoke sprays,reducing carbon footprint,reducing nitrates in the water table, sub-contracting specialists etc.etc. If you are involved with any of these activities and most farmers will be,then please get in touch and we can discuss your specific situation.

 

[Rob Sinclair]

Can you elaborate a bit please because it looks very unclear what you are suggesting. What figure is classed as 'high yield' and 'consistent quality'. How is it actioned and who sets the levels?

Thank you, the high yield and consistent quality is a regular expectation of the customer today,irrespective of the obstructions you face due to weather,herbicide restrictions etc.The levels are set by the customer
and farmers must keep developing their processes,equipment and products to overcome the challenges.This is achieved in their farming methods, product development,management of pests using bespoke sprays,reducing carbon footprint,reducing nitrates in the water table, sub-contracting specialists etc.etc. to achieve the consistent quality and yield needed. These development activities are examples of what is claimable,please feel frere to contact me to discuss your personal situation.

 

[Farma Parma]

Most of the R&D costs of farming at farm level are already covered by capital allowances and tax deductible labour costs.
Where we really would benefit would be if we were able to set more than the currently allowed 2% pa against 'buildings' which is utterly crap, even with fixtures and fittings taken off.
But if you can tell us how to legitimately reduce tax bills we'd be all ears.

Its a crazy world where you can offset machinery but not new buildings against tax?
why is there any difference ? a business expense is a business expense isnt it???

 

[Rob Sinclair]

Totally agree on this. Doesn’t make sense to just have it on Machinery.

"Thank you, you have highlighted the issue that Farmers are generally unaware that R&D Tax allowances, are separate to capital allowances and tax deductible labour costs" and should be being claimed.
We work with many farmers who are making substantial claims for changes in their farming methods, product development,management of pests using bespoke sprays,reducing carbon footprint,reducing nitrates in the water table, sub-contracting specialists etc.etc. If you are involved with any of these activities and most farmers will be,then please get in touch and we can discuss your specific situation.

 

[Goweresque]

Thank you, the high yield and consistent quality is a regular expectation of the customer today,irrespective of the obstructions you face due to weather,herbicide restrictions etc.The levels are set by the customer
and farmers must keep developing their processes,equipment and products to overcome the challenges.This is achieved in their farming methods, product development,management of pests using bespoke sprays,reducing carbon footprint,reducing nitrates in the water table, sub-contracting specialists etc.etc. to achieve the consistent quality and yield needed. These development activities are examples of what is claimable,please feel frere to contact me to discuss your personal situation.

Jeez, what a pile management consultant bullsh*t bingo.

 

[Rob Sinclair]

Can partnerships claim or is it just limited companies?

Thank you - Unfortunately a company has to be Limited,with a turover of no more than £100million, assets of less than £86million and fewer than 500 staff.

 

[Still Farming]

No win no fee type claims are they?

 

[Rob Sinclair]

Jeez, what a pile management consultant bullsh*t bingo.

Hi, what we say is all absolutely true and valid and provable with many happy farmers - we would welcome the opportunity to go into more detail with you.....

 

[Rob Sinclair]

No win no fee type claims are they?

Thank you - if you do not receive your R&D tax relief from HMRC you pay no fees

 

[Rob Sinclair]

I would have thought that almost all of agricultural research was not done by farmers.

This impression has not been helped by the wording from HMRC for Research and Development (R&D), and is one of the reasons why there are not enough businesses claiming what they are entitled to. "Research" suggests men in white coats and test tubes etc.which hardly applies to a farmer on the land ! "Development" is the key area as it covers many activities where farmers are working to develop and improve their yields - show me a farmer who does not want to improve......

 

[PSQ]

Thank you - Unfortunately a company has to be Limited,with a turover of no more than £100million, assets of less than £86million and fewer than 500 staff.

Sadly I'm out, as my business breaches 1 of the above stipulated rules.

Isn't it always the case when dealing with HMRC - "this avenue is open to everyone, as long as they can jump through all 32 loopholes, have a Geneva or Dublin based office or qualify for our Cardiff based 'Celebrities Tax Team'; then we'll cut you a *very* favourable deal. The rest of you can bend over and hold your ankles".

 

[Fogg]

Its a crazy world where you can offset machinery but not new buildings against tax?
why is there any difference ? i business expense is a business expense isnt it???

When you come to sell your farm and you realise that all sales of machinery are treated like income you'll be glad that your floors, walls, and roofs won't be treated in the same way.

 

[Farma Parma]

When you come to sell your farm and you realise that all sales of machinery are treated like income you'll be glad that your floors, walls, and roofs won't be treated in the same way.

wont matter to me its all Rented

 

[Clive]

I've made successful R&D claims before - I spoke about this briefly at the BASE conference last year, its a relief that its seems very few farmers take advantage of