Increase in claims of R&D tax credits revealed | WDM

Twitter
Follow us on Twitter
MENU
23
October

HMRC data reveals significant rise in number of R&D tax credit claims

Figures published by HMRC have revealed that the total number of claims for R&D tax credits has increased by 20%.

The latest figures cover the 2017-18 tax year and show that 48,635 R&D tax credit claims were made. 42,075 of these were made by small and medium-sized enterprises (SMEs), whilst 7,285 were made by large businesses.

According to HMRC, a total of £4.3 billion of R&D tax relief was claimed in 2017-18, corresponding to £31.3 billion of R&D expenditure.

HMRC found that R&D claims were concentrated in companies with a registered office in London, the South East or the East of England. It stated that the regional split was based on the registered office location, so ‘may not be where all of the R&D activity took place’.

The data also revealed that the most common way for SMEs to claim R&D tax credits is by making a deduction from corporation tax liability. 23,640 claims were made this way in 2017-18. Just 7,600 claims were made for a payable credit.

7 Questions you must ask an accountant
How To Grow your business by 46.4% - Special Free Whitepaper
To get the free whitepaper, simply enter your name and e-mail address below and click the Get FREE Whitepaper button. You will receive an email shortly with your FREE Whitepaper pdf from our team...

Fields marked with an * are required

By submitting this form you agree to receive information via email newsletters about products and services from WDMCA which we think may interest you. You can opt out of receiving these newsletters by clicking the unsubscribe link in newsletters we send.

Download our FREE iPhone app

Testimonials

From the opening of our store to the eventual sale of four stores seventeen years later, WDM have provided invaluable assistance all the way along. They are more than just an accountant to us and we couldn't speak highly enough of them.

Pat McKenna - McDonalds Franchisee
Sign up to our newsletter
Oakfield House, 378 Brandon Street, Motherwell ML1 1XA        t: 01698 250 251        f: 01698 250 261