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R&D Tax Credits in Hospitality

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    R&D Tax Credits Calculator

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    Annually, how much do you spend on innovation?

    £ 50,000

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    £12,350

    (This figure may vary depending on your actual reported figures - our R&D tax credit calculator is intended as a guide only.)
    Welcome to Green Jellyfish

    claims within the Hospitality industry

    Businesses in the UK have been given the impression that Research and Development is only aimed towards scientists and people creating specialist technology – however, this is not the case.

    Hospitality is a sorely underutilised section of R&D – with a study concluding that 3 out of 5 restaurant managers have never even heard of it! This is a problem because plenty of R&D activities go on behind the scenes in restaurants, hotels and similar, which are never claimed for.

    Get in touch today for a free, no-obligation consultation with one of our specialists to find out what activities your business conducts which may qualify you for R&D tax relief.

    R&D tax credits are a government incentive designed to encourage innovation across multiple industries. This is an opportunity for you to reduce your corporation tax bill or receive a refund from HMRC based on the number of working hours your business dedicates to Research & Development.

    SME’s can claim back a significant percentage of the costs associated with R&D. That’s up to 27p back for every £1 spent on qualifying R&D activities. To get an idea of how much you could be refunded, check out our handy online calculator.

    What are examples of claimable projects within Hospitality?

    The R&D tax credit scheme was introduced to reward UK businesses tackling scientific or technological uncertainties within their industry. With this being such a broad description of eligible R&D, we have listed a few handy examples of eligible projects to help familiarise you with what type of projects can qualify.

    Structural

    The business could have had unique construction processes put into place.

    Products

    If you spend X amount on researching into or developing your own cleaning products, for example.

    Reducing Energy Consumption

    An investment to reduce your carbon footprint, developed specifically for your company.

    Databases

    If the business has created a unique database to track, say, how well each dish is doing, it could be considered R&D

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    Ready to embark on your R&D journey? Our team of friendly experts are eager to help your business excel. Whether you have groundbreaking ideas or technological challenges, we’re here to support you every step of the way. Take the first step by using the button below to get in touch with our team today.