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HMRC R&D tax credits statistics 2022 – our commentary

HMRC has provided information on the number of companies claiming research and development (R&D) tax credits and the value of projected claims for the year 2020-21.

Key points to show the value of this opportunity to innovative business in the UK

Source HMRC R&D tax credits statistics 2022

Claims since the schemes began

Claims since the R&D schemes began, 2022

Projected R&D claims 2020-2021 compared to previous year

7% increase since last year
8% incrase since previous year
4% increase on previous year
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 2020-21 are provisional and have been uplifted to include estimates for claims not yet received. Revisions are expected in next year’s publication.

Claims in the tax year 2020-2021 projected

The Manufacturing, Professional, Scientific and Technical, and Information and Communication sectors continued to have the greatest volume of claims, making up a total of 62% of claims and 70% of the total amount claimed.
R&D claims are concentrated in companies with a registered office in London and the South East with 36% of all claims

The Manufacturing, Professional, Scientific and Technical, and Information and Communication sectors continued to have the greatest volume of claims, making up a total of 62% of claims and 70% of the total amount claimed.

R&D claims are concentrated in companies with a registered office in London and the South East with 36% of all claims and 50% of the total amount claimed.

To date £47.6bn in tax relief has been claimed through these schemes.

Source Advisors can help your business optimise the value of your R&D and identify commercial opportunities in your IP.
Contact Source Advisors
01727 738600
Contact Source Advisors
01727 738600

Comments from our CEO, Luke Hamm

The number of R&D claimants continues to grow. However, the projected value of R&D tax relief claims for 2020-21 has fallen on the previous year for the first time ever this year.

There has been a drop in the number of first-time applicants from 19,720 for 2019-20, down to 18,925 projected for 2020-21. We would probably expect a further decrease in future years.

It could be that the R&D message has filtered through to even the smallest SMEs which would be fantastic news. However, are we getting bang for our buck with the £880m of claims under £50k.

See other years’ HMRC statistics

HMRC R&D tax credits statistics 2021
HMRC R&D tax credits statistics 2020