In the glorious world of beer, there’s been something of a renaissance in recent years, spurred by a growing consumer fascination with the craft beer trend. But did you know that craft beer production could see your brewery become eligible for R&D tax relief?
So, pop the cap off a cold one, sit back and join us in exploring 3 craft beer innovations that could see you claiming back R&D tax credits.
What is an R&D project?
First things first: a quick recap.
R&D tax projects are industry-driving research and development ventures into product or process innovation. Eligible projects receive a tax incentive for qualifying R&D expenditure from government funded financial subsidiaries.
What innovations can a brewery pursue?
As an increasingly saturated market, the success of craft beer manufacturers depends on their ability to keep up with the fast-paced creativity of the market. In essence, innovation is a necessity.
Luckily, there are many eligible R&D innovations you can look to incorporate into your brewing processes and product range:
IPAs
India pale ale (IPA) is a relatively new craft beer style that has skyrocketed in popularity over the past few years thanks to its pronounced and unique flavour.
Hoppy, bitter IPAs are actually the industry’s fastest growing craft beer type, which has led to further innovations in its manufacture. Perhaps most notable of these innovations is the development and emergence of the session IPA - a low-alcohol alternative manufactured to compete with incredibly popular ‘light lagers’ such as Bud Light and Coors Light.
Gluten-free
The food and beverage industry has seen a huge uplift in the manufacture of gluten-free products - and when it comes to craft beer, it’s no different.
Of course, conventional beers are amongst the worst products for consumers with gluten intolerances thanks to their high levels of barley and wheat. Gluten-free craft beers, on the other hand, use chemical processes or alternative ingredients in manufacturing to reduce the levels of gluten without compromising on that sweet, sweet taste of a good beer.
Sour beers
Sour beers boast a refined acidic taste and are increasing in popularity as a ‘food-friendly’ drink, as with many wines. This in itself is an industry innovation, challenging the very concept of what we perceive beer to be.
The innovation doesn’t stop there, though. Thanks to their unique manufacturing process, sour beers can vary extensively in flavour, with a whole host of fruits and additives able to contribute to an endless range of different tastes and flavours.
Craft brewers looking to claim R&D tax relief through the introduction of research and development projects must look to adapt their production processes and facilities to encourage innovation.
Need a hand on what to do next? Get in touch with Lumo today to learn more.