The money we claimed has gone back into the farm, into things like updating machinery and looking at new methods of research going forward. The key advantage of the scheme is the extra money coming in which makes a big difference to what you are able to put back in to your business.
Benton Farm are a stock and arable farm. They are predominantly a potato farm and their R&D qualifying activity is in this area. They have 220 acres of potatoes and combination for wheat barley, grassland and maize.
Benton Farm’s R&D is centred around trying to improve soil structure, land health, skin finish and yield. They try and use different fertilisers with micronutrients, not just standard products. They are working towards to use of more organic fertilisers and are aiming to get their soil structure in a place where they have more organic products, to achieve this the farm needed to invest in new systems.
Our accountant told us about the scheme, I was not aware of it before. In farming there is not enough innovation and these kind of schemes allow businesses to look at different methods and not accept the norm any more. I would say that as long as you’re willing to put in a few hours, Leyton do the rest for you. You just give them the information and they do the work for you. Time wise the commitment is not massive.
Benton Farm are already looking at different products now knowing that they can claim this tax relief. The client said that “It’s nice to see that you can get some relief for putting in a bit of effort to try and do something outside the normal processes, I would say to other agriculture businesses don’t be afraid to try things and you can get tax relief for doing this, if you try something new it might work out as a better method.”