Companies have a period of one year to submit returns after the end of the accounting period and another year to amend or withdraw a claim. The statistics published here for 2023-24 are provisional and have been uplifted to include estimates for claims not yet received. Revisions are expected in next year’s publication.
The Manufacturing, Professional, Scientific & Technical, Information and Communication sectors continued to have the greatest volume of claims, making up a total of 71% of claims and 71% of the total amount claimed.
R&D claims are concentrated in companies with a registered office in London and the South East, with 39% of all claims and 51% of the total amount claimed.
Source Advisors can help your business optimise the value of your R&D through tax relief schemes, including Research and Development Expenditure Credit (RDEC), the new merged R&D scheme and the Enhanced R&D Intensive Support (ERIS) scheme. Our IP services including Patent Box, identify commercial opportunities in your IP.
