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R&D   tax relief claims still increasing

HMRC’s recent statistics show a 12% increase (year on year) in the number of claims for research and development (R&D) tax reliefs in 2014/15 and the level of support provided increasing by 38%.

Companies submitted 22,445 claims in 2014/15,up from 20,000 in 2013-14.  This increase was primarily driven by a rise in the number of SME claims, which totalled 18,630 in 2014/15 ( up from 16,005 in 2013/14).  The number of claims is different from the number of returns (21,525) as a return can include more than one claim, eg, under different aspects of the relief.

The cost of support for the SME scheme rose by £325m to just over £1bn. 

The rise in the number of claims is both a reflection of the increase in R&D spending and increasing awareness of reliefs.

R&D is a generous relief and you should not miss out, just check if you can make a claim. 

 

 

Date: 13th October, 2016
Author: Cathy Corns

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