I think many dairy farms would be amazed that they can claim for the work they are already doing, simply working on innovative methods to improve output and trying new things can make you eligible. Without trying too hard this activity falls into the R&D qualifying areas and a possible tax rebate. I would say that you just need the guidance and expertise of Leyton to find that qualifying activity, they work with farming businesses who are doing this all the time so Leyton really know what they are looking for.
The business was using a unique type of fertiliser and bespoke seed for cattle which was specially made and wasn’t off-the-shelf. Astridge Farm spoke to their accountants who said they had never submitted a claim for an agriculture business before, their accountant commented that the agriculture industry seems to be virtually untapped when it comes to R&D tax relief claims. The client commented that “From what I have seen of the scheme and working with Leyton, it strikes me that most farmers will have be able to claim because they are forever trying new things, using different fertilisers, feeds and medicines. Trying new techniques is an ongoing thing for your average dairy farmer.”
I would think it is true to say most farmers might approach the scheme with trepidation, thinking that it is another thing to spend time investigating with no reward. But I would strongly advise looking into the scheme as it won’t cost the farmer anything except his time.
The client commented that scheme is particularly useful in the current environment as farmers need all the help they can get. For many dairy farmers, their answer to a dwindling milk price is producing more of product to get the same turnover and pay for the overheads. Trying new techniques is an ongoing thing for many dairy farmers and therefore they could be financial benefitting from this scheme.