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Facts About R&D Tax Credits
85% of R&D Claims are from Small and Medium Sized Businesses
Tax Credits contribute up to £8.2bn to the UK economy
75% of SMEs claim over £50,000
The number of claims doubled in 2018 over 2017
The average SME claim was £53,876
HMRC paid out £3.5 billion in 2016-17
Over 240,000 claims have been made and £21.4 billion in tax relief claimed.
The UK ranks seventh among OECD and partner economies in terms of total government support to business R&D as a percentage of GDP, equivalent to 0.25% of GDP in 2015.
The UK ranks 11th of all EU countries’ R&D expenditure as a percentage of GDP.
From 2006-2015, total gov support for BERD as % of GDP increased in the UK by 0.13 percentage points, while the OECD media increased by 0.02.
R&D Tax claims by UK region in 2018
R&D Tax claims by UK sector in 2018
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