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HMRC R&D tax credits statistics 2023 – 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 2021-22.

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

Source HMRC R&D tax credits statistics 2023

Claims since the schemes began

Over 650k claims since schemes began

Projected R&D claims 2021-2022 compared to previous year

4% increase from 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 2021-22 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 2021-2022 projected

50% total amount claimed

The Information & Communication, Manufacturing, and Professional, Scientific & Technical sectors continued to have the greatest volume of claims, making up a total of 62% of claims and 67% of the total amount claimed.

R&D claims are concentrated in companies with a registered office in London and the South East with 37% of all claims and 50% of the total amount claimed.

To date £55.47bn 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.

Comments from our CEO, Luke Hamm

See other years’ HMRC statistics

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