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22 September 2015
UK research and development scheme claims rise.
HMRC figures show that the amount claimed under the UK research and development schemes rose by £380m in 2013/14 to £1.75bn, an increase of 27% on the previous year. The number of smaller companies claiming rose by 23%, while large company claims increased by 4%.
Brian Williamson, managing director at Jumpstart, an R&D tax credit specialist, said: “Last year we predicted an increase in the amounts claimed to £1.8bn, and these most recent figures are very close to that. There is no doubt that awareness of the government’s existing tax relief programme is increasing.
“We have already made substantial progress in disseminating this message across the country and we forecast enormous future growth.”
Mr Williamson said compliant claims were being made by companies that appreciate that the scheme applies not only to innovative research but to changes made to processes and systems to create better ways of operating.
