Businesses continue to invest in research and development

12 October 2020

Issue: 4764 / Categories: News

In 2018-19 businesses made 59 265 research and development (R&D) tax credit claims of which 52 160 were in the small and medium-sized enterprises (SMEs) scheme. According to HMRC statistics claimants received tax relief worth £5.3bn.

Due to the nature of the scheme returns for 2018-19 are still being submitted so data for that year is not yet complete. As a result in the latest statistics HMRC has compared the years 2017-18 to 2016-17 when discussing change between years and 2018-19 when discussing in-year characteristics.

In 2017-18 the total number of claims for R&D tax credits rose to 62 095 an increase of 17% from 2016-17. The increase was driven mainly by a rise in the number of SME claims which totalled 54 005 in 2017-18 an increase of 19% from 2016-17.

The amount of R&D support claimed increased to...

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