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R&D changes see 22% increase in claims by SMEs

HMRC’s statistics (albeit for 2015-16) show the total number of claims for R&D tax credits rose to 26,255, an increase of 19% from 2014-15.

However, according to HMRC, this increase was primarily driven by the number of SME claims, which totalled 21,865 in 2015-16, up from 17,875 in 2014-15.  The total number of claims under the large company schemes increased by only 5% to 4,385.

The increase in the number of claims is encouraging but overall it is not a high proportion of all SMEs; so there is still a way to go in awareness of the reliefs.  

 

 

Date: 25th October, 2017
Author: Cathy Corns

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