R&D Tax Credits for Retail & Wholesale

For those working within the Retail and Wholesale industry, you will know that this is a challenging sector that often requires innovative solutions. As R&D activities go hand in hand with innovation, there is a clear link between R&D and Retail and Wholesale.

R&D tax credits for the Retail and Wholesale industry are a great way to mitigate any losses when undertaking innovative and inventive solutions. There are a range of Retail and Wholesale projects that can qualify for R&D tax credit claims, with the most common ones being; working with new or improved materials and new processes and techniques.

Retail and Wholesale projects that may qualify for R&D tax relief include:

Implementation of new stock management systems;
Use of analytics to improve ecommerce online;
Improving existing processes by introducing new technology or modifying existing technology;
Introducing more durable packing or eco-friendly packaging;
Installing automated systems for materials handling;
New materials in products e.g. smart fabrics for the fashion/textile industry;
Enhancing materials in products that are cheaper, stronger, thinner, lighter, or;
Use of devices that improve operational efficiency.

What activities can be included in a R&D project?

Overcoming challenges and uncertainties;
Designing and making products;
Suggesting a more cost-effective process;
Suggesting a more time-efficient process;
Time spent researching and development of current projects;
Seeking to improve processes, services, materials or devices;
Production of prototypes or performance testing;
Development of software or IT solutions;
Investment in failed projects or developed products that are never launched/used;
Efficiency of product, process or service, or;
Employing any staff of a highly skilled background or with technical or scientific background.

What expenditure can be claimed for in a R&D project?

Staff Costs – Employee costs (salary, national insurance and employer pension) are apportioned for their time spent on the R&D project plus any reimbursed associated business expenses;
Software – Purchased for R&D purposes and costs apportioned for any subsequent use;
Subcontracted R&D – You can claim 65% of what you paid your R&D subcontractor;
Utilities & Consumables – Water, fuel, power and material used in the project, or;
Prototypes – Produced for R&D purposes.

Retail & Wholesale

Retail and Wholesale projects that may qualify for R&D tax relief include:

What activities can be included in a R&D project?

What expenditure can be claimed for in a R&D project?

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