Page 5 - R&D in Agriculture and Farming INFO PACK- APR23

Case Studies
Agricultural businesses that fund their own R&D activities will find that many projects are eligible to claim substantial tax relief.
SHROPSHIRE PETALS
Shropshire Petals grows a wide range of sustainable petal confetti and dried flowers on a fourth-generation, Shropshire family farm, delivering to customers worldwide. Over the past four years, the business has benefitted from the R&D tax relief scheme.
“We grow flowers at field scale, and aim to find the most economical way to bring our products to the wedding market. The tax relief scheme has benefited us hugely. We are on a continual programme of innovation, always looking at ways to improve our mechanisation and harvesting methods, so the whole process ensures the senior management team is thinking carefully – in a logical and meaningful way, that is properly documented. The extra cash flow enables us to really think more deeply about our business and what we are aiming to achieve.”
Michael Bubb, Director, Shropshire Petals
LUFFNESS MAINS FARM
On Luffness Mains, on the East Lothian coast, the Stevenson Family has also successfully claimed tax relief for R and D work on new varieties of potatoes and crop development.
“The current market, exacerbated by the pandemic, means operating conditions are really tough for many, and the tax relief scheme has provided a welcome boost to cash flow. I wouldn’t hesitate to use the scheme again in the future to support further R&D projects.” Allan Stevenson, Director, Luffness Mains Farm
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