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In 2019-20 the estimated total number of research and development (R&D) tax credit claims was 85 900 an increase of 16% from the previous year according to HMRC’s latest statistics. HMRC says the increase is driven primarily by a 16% rise in the number of small and medium-sized enterprises R&D claims to 76 225.
The estimated total amount of R&D tax relief support rose to £7.4bn in 2019-20 an increase of 19% from the previous year. This corresponds to £47.5bn of R&D expenditure 15% higher than the previous year.
Most claims are made by companies with registered offices in London - 20% of total claims and 31% of total amount claimed - and the South East - 15% of total claims and 18% of total amount claimed. However the registered office location may not be where all the R&D activity takes place.
The...
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