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
Since Launch
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
London
Scotland
North East
North West
East Midlands
West Midlands
East
South East
South West
Wales
Yorkshire
London
Scotland
North West
North East
East Midlands
West Midlands
East
South East
South West
Wales
Yorkshire
R&D Tax claims by UK sector in 2018
Manufacturing
Construction
Our offices are open from 08:30 to 17:00 Monday to Friday.
Email: enquiry@queenslc.com
© 2022 Queen’s Lane Consultants Limited. Company Number 11450705. VAT Number 300 9457 25.