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HMRC R&D tax credits statistics 2018 – our commentary

The government is giving more of a boost than ever before to the UK’s most innovative companies, according to the latest statistics. HMRC has provided information on the number of companies claiming research and development (R&D) tax credits and the value of claims for the year 2016-17 so far. There is still time to make a claim, if you think you might qualify contact one of our specialist advisors.

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

Source HMRC R&D tax credits statistics 2018

Claims since the schemes began

£21.4bn in tax relief since claims began

Updates to 2015-16 – compared to previous year

22% increase since previous year
23% increase since previous year
25% increase from previous year
Due to the nature of the scheme, returns for the latest financial year reported (2016-17) can still be submitted past the cut-off date for the publication of these figures. As a result data for 2016-17 is not yet complete. To avoid misleading comparisons between years HMRC have compared the years 2015-16 to 2014-15 in their publication when discussing change between years, and 2016-17 when discussing in-year characteristics.

Claims in the tax year 2016-17 so far

These sectors continued to have the greatest volume of claims, making up a total of 71% of claims and 75% of the total amount claimed.
R&D claims are concentrated in companies with a registered office in London, the South East or the East of England 45% of all claims and 60% of the total amount claimed.

These sectors continued to have the greatest volume of claims, making up a total of 71% of claims and 75% of the total amount claimed.

R&D claims are concentrated in companies with a registered office in London, the South East or the East of England 45% of all claims and 60% of the total amount claimed.

Contact Source Advisors
01727 738600
Contact Source Advisors
01727 738600

Comments from our CEO, Luke Hamm

It’s encouraging to see a year-on-year increase in claims for R&D tax relief but once again, the growth in Patent Box is woefully behind.

It is significant that there is an increase in large claims through the SME scheme, for claims over £500k, increase from 700 to 1,055 claims.

It’s encouraging to see a year-on-year increase in claims for R&D tax relief but once again, the growth in Patent Box is woefully behind.

See other years’ HMRC statistics

HMRC R&D tax credits statistics 2020
HMRC R&D tax credits statistics 2019

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