Source HMRC R&D tax credits statistics 2026
The statistics published by HMRC for 2024-25 are provisional and have been uplifted to include estimates for claims not yet received.
The financial services industry has embraced technological enablement to streamline process and meet increasing expectations of the customers. Financial businesses handle transactions involving large sums of money, often within a complicated regulatory framework and data sensitivity.
We find qualifying R&D expenditure and IP development when financial businesses develop new operating systems or create new encryption or security techniques that don’t follow established methodologies. This sector has seen challenges of integrating new systems and apps with legacy systems.
This sector includes the following types of business.
Yes, Financial and insurance companies that have already claimed R&D tax credits might find that they could claim even more by applying for Corporate Tax relief, under the Patent Box scheme. In 2024-25, so far, only 5 companies elected into Patent Box.
