Thanks to opportunities now available to submit applications for Research & Development Tax Relief, brewers of craft beers may well find that, whilst we enjoy their bitter, they can derive a sweet reward for their endeavours, as an entrepreneurial brewer could get an unexpected bonus for his efforts, from the Chancellor.
With the number of Sussex Craft Breweries apparently on the rise and 2015’s Hop Harvest presumably ready for brewing, there may be more reason to celebrate in 2016.
Craft Beers can offer great new tastes; sometimes created from the most unexpected resource and sometimes developed from improving on traditional recipes using modern techniques, to produce fresh, new brews that appeal to our more discerning tastes.
A recent article in Off Licence News, highlighted a wonderful example of the sort of project that could qualify for R&D Tax Relief. The article on Charles Wells Brewery in Bedford documented how Master Brewer Chris Read undertook both research and product development for a new IPA offering, spending:
“…a lot of time researching brewing archives, looking for traditional malt and hop recipes and working out how best to evolve them for modern tastes”
He arrived at a blend of Galaxy, Simcoe and Goldings Hops to create a traditionally bitter and hoppy IPA with a soft, modern, tropical flavour.
Others have explored opportunities with ingredients that are a little less traditional.
Bread Beer on the rise
The Hackney Brewery sources left over, fresh bread from artisan bakeries and slices, toasts and mashes it, adding the breadcrumbs to malted barley, a mixture of hops, yeast and water.
Profits from the sale of the resulting Toast Ale go to “Feedback” an environmental organisation that campaigns to end food waste.
Thus, the Hackney Brewery has more than one reason to examine recouping some of their costs via an application for Research and Development Tax Relief and we, whilst enjoying their ale, can toast our small contribution to a very good cause.
Advice on tap…
Applying for Research & Development Tax Relief isn’t straightforward, but tap in to the expertise at Cooden Tax Consulting and you won’t be left high and dry.
Cooden Tax Consulting is a Niche Tax Consultancy specialising in R&D Tax Relief. We offer a free no obligation consultation to determine whether any projects might be eligible, to explain our services in more detail and discover how our expertise can best serve your business. Please call us on 01424 225345 and ask to speak to Simon or e-mail firstname.lastname@example.org