R&D In Hospitality
Who would of thought that research and development would apply to the hospitality industry? Businesses in general associate R&D as if it were exclusive to the field of science and pharmaceuticals but fortunately for hospitality businesses this isn’t the case!
R&D cuts across many industries and provided you are faced with a situation where you need to have improved or introduced a new process, product or service that has never been done before, you could be conducting research and development.
Better yet, your hospitality business has spent hard earned money on trying to overcome uncertainty and those expenses could very well form part of costs that you could claim back from the UK Government’s R&D Tax relief scheme.
Let’s consider some examples that may be eligible for R&D tax credits:
Perhaps you have introduced bespoke software to manage your business administration that no existing system or solution provider could have provided.
Perhaps your operational environment for your clientele required a unique way of improving their experience that no competent industry professional would have known this was in existence.
Maybe your hospitality business introduced a new way to improve the shelf life of your fresh produce that has never been seen before.
We have seen a wide variety of hospitality companies benefit from the R&D Tax relief where costs associated but not necessarily limited to:
Staff | Subcontractors | Consumables | Software Used | Prototyping
Instead of guessing if your business is eligible, rather let Available Grants work with you to find out if there’s a potential claim.
We work on a No-Win No-Fee basis, so let’s arrange an eligibility call with one of our R&D Tax specialists now.