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HMRC R&D tax credits statistics 2020 – our commentary

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 2018-19 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 2020

Claims since the schemes began

£33.3bn in tax relief since the scheme began

Updates to 2017-18 – compared to previous year

17% increase from previous year
19% increase since last year
15% increase from last year
Due to the nature of the scheme, returns for the latest financial year reported (2018-19) can still be submitted past the cut-off date for the publication of these figures. As a result data for 2018-19 is not yet complete. To avoid misleading comparisons between years HMRC have compared the years 2017-18 to 2016-17 in their publication when discussing change between years, and 2018-19 when discussing in-year characteristics.

Claims in the tax year 2018-19 so far

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 66% of claims and 71% 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 £33.3bn 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 2019
HMRC R&D tax credits statistics 2018

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