Sat Bains secures R&D tax credits from HMRC

By Lesley Foottit

- Last updated on GMT

Related tags: Taxation in the united kingdom, Small business

Restaurant Sat Bains: innovating
Restaurant Sat Bains: innovating
A Michelin-starred chef has successfully claimed R&D tax credits from HM Revenue & Customs in an unusual move for a restaurant.

Celebrity chef Sat Bains, who runs Restaurant Sat Bains in Nottingham, secured the tax relief because the experimenting and innovating conducted in his development kitchen met the required definition of research and development.

Tax relief for R&D was introduced for small companies in 2000 and was extended to larger companies two years later, but the vast majority of claims come from the manufacturing and business services sectors. Of £1 bn claimed in R&D tax credits in the year to March 2012, only 2.5% was claimed by the wholesale, retail, hotel and restaurant sectors.

Until recently it was ‘unheard of’ for hospitality businesses to claim tax relief for innovation.

Related topics: News

Related news