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HMRC R&D tax credits statistics 2021 – 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 2019-20. 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 2021

Claims since the schemes began

£41.6bn in tax relief since the scheme began

Projected R&D claims 2019-2020 compared to previous year

16% increase from previous year
16% increase from previous year
19% 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 2019-20 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 2019-20 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
R&D claims are concentrated in companies with a registered office in London, the South East or the East of England 44% of all claims and 60% of the total amount claimed.

The Manufacturing, Professional, Scientific and Technical, and Information and Communication sectors continued to have the greatest volume of claims, making up a total of 64% of claims and 69% 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 44% of all claims and 60% of the total amount claimed.

To date £41.6bn 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

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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