Agriculture
According to the most recent R&D Tax Credit figures, only 0.8% of all claims made under the SME programme were for businesses engaged in the agricultural industry. However, as we can see with a number of our clients, innovation happens frequently.
Examples
1
Biological complexity in the creation of novel plant breeds
Breeders must choose parent plants that will hopefully pass on the necessary features to offspring while creating new plant varieties. However, if all goes according to plan and these traits are handed through, it can take at least six years before entering trials. As a result, breeders need to anticipate market demand years in advance, which includes determining which resistances would be most crucial.
Breeders must choose parent plants that will hopefully pass on the necessary features to offspring while creating new plant varieties. However, if all goes according to plan and these traits are handed through, it can take at least six years before entering trials. As a result, breeders need to anticipate market demand years in advance, which includes determining which resistances would be most crucial.
2
The difficulty of predicting diseases in the future
It is natural for diseases and their many strains to evolve over time. This means that even if a new crop variety is resistant to a particular disease, new variant's could have emerged at any point and prevented the project from succeeding.
It is natural for diseases and their many strains to evolve over time. This means that even if a new crop variety is resistant to a particular disease, new variant's could have emerged at any point and prevented the project from succeeding.
3
Having trouble finding the appropriate formula
A precise mix of raw materials and active substances is necessary when creating new types of soil management products because even little changes can have a significant impact on the product's chemical or physical qualities and make it useless for its intended use.
A precise mix of raw materials and active substances is necessary when creating new types of soil management products because even little changes can have a significant impact on the product's chemical or physical qualities and make it useless for its intended use.
4
Scaling production might be uncertain
As manufacturing levels are increased, there is a significant amount of uncertainty since some ingredients may behave differently in higher quantities than they did in the initial formulation. It is frequently crucial to perform research and development into altering the ratios of each component while converting a formulation. By doing this, you can obtain the necessary attributes in a greater number of samples. On the basis of the outcomes of the previous formulation, this frequently necessitates a significant amount of trial and error.
As manufacturing levels are increased, there is a significant amount of uncertainty since some ingredients may behave differently in higher quantities than they did in the initial formulation. It is frequently crucial to perform research and development into altering the ratios of each component while converting a formulation. By doing this, you can obtain the necessary attributes in a greater number of samples. On the basis of the outcomes of the previous formulation, this frequently necessitates a significant amount of trial and error.
Testimonial
Success Stories
We appreciate the experimentation, message reform, and clever incentives. We provide a range of services and solutions globally, and this is the foundation of our methodology.
Since we started working with PHG Finance, we have no hesitation in recommending them as an R&D advisor. PHG Finance showed a strong understanding of our industry, offered clear direction, and had quick turn-around timeframes.
They are a very personable and experienced tax staff, and I highly recommend them. They did a great job of explaining the procedure and making sure we understood the projects that qualified.
We had previously worked with another organisation for R&D, but we have discovered that PHG Finance was the best because they were supportive, amiable, and professional throughout the process.
The prompt service I received from PHG has been excellent. When their technical team contacted me, they requested all the pertinent data they needed, and I was pleased with the report they provided.