date:Oct 09, 2023
Business innovation spending on food and drink manufacturing has grown by 13% to reach 800 million, according to analysis of new Government statistics by Ryan, a global tax services and software provider.
The data, released last week, is captured by HMRC and is based on claims made for research and development (RD) tax relief, which incentivises businesses to undertake innovation.
Companies spent 800 million on food and drink RD in 2021/22, an increase of 12.7% from 710 million in 2020/21. Des