Budget 2016 Sugar Levy
What does the new sugar tax mean for soft drink manufacturers and R&D?
Commenting on today’s Budget announcement to introduce a sugar tax on drinks from 2018, Justin Arnesen, Director of R&D Tax and Grants at Ayming UK has said:
“The sugar tax has been in the works for some time now, so it shouldn’t come as a complete surprise to soft drink manufacturers. Over the next two years we expect to see a surge in investment in innovation as soft drink manufacturers look to achieve the same level of taste whilst reducing the sugar content of their drinks below the taxable threshold.
“As manufacturers look to ramp up innovation in this area, it’s essential that they are aware and making use of the many Government tax incentives that exist for businesses investing in R&D.”
To find out more about how manufacturing businesses can financially benefit from the investments they make developing new products, or changing existing products, contact the specialist R&D tax team Ayming UK on 020 30 58 58 00 or click here.