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HMRC R&D tax credits statistics 2021 – our commentary

HMRC has provided information on the number of companies claiming research and development (R&D) tax credits and the value of projected claims for the year 2019-20. There is still time to make a claim, if you think you might qualify contact one of our specialist advisors.


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Source HMRC R&D tax credits statistics 2021


Claims since the schemes began


Projected R&D claims 2019-2020 compared to previous year

graphic showing 17% increase in R&D claims from 2016-17 to 2017-18
19% increase SME R&D claims from 2016-17 to 2017-18 graphic
graphic showing 15% increase in R&D money claimed from 2016-17 to 2017-18

Companies have a period of one year to submit returns after the end of the accounting period and another year to amend or withdraw a claim. The statistics published here for 2019-20 are provisional and have been uplifted to include estimates for claims not yet received. Revisions are expected in next year’s publication.


Claims in the tax year 2019-20 projected

Graphic showing which industries make up 66% of R&D tax relief claims

The Manufacturing, Professional, Scientific and Technical, and Information and Communication sectors continued to have the greatest volume of claims, making up a total of 64% of claims and 69% of the total amount claimed.

60% R&D claims made in London, South East & of East England 2018-19 graphic

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 £41.6bn in tax relief has been claimed through these schemes.

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Regional analysis of the projected number and value of R&D tax credit claims under the SME scheme, 2019-20

Based on government office region

 

Firms registered in London

Number of claims

Amount claimed £(m)

£87,971

Average claim value for SMEs

London

 

Regional allocation is based on the postcode of the company’s registered address, which might not correspond to where the R&D activity takes place, so caution must be exercised when interpreting these figures. Figures exclude claims where region is not known. Numbers are rounded to the nearest 5 and amounts are rounded to the nearest £5m.


Industry sector analysis of projected number and value of R&D tax credit claims under the SME scheme, 2019 -20

Information & Communication

Number of claims

Amount claimed £(m)

£66,454

Average claim value for

Information & Communication

 

This coding might not correspond to the industry sector of the R&D activity, so caution must be exercised when interpreting these figures. Figures exclude claims where industry sector is not known. Numbers are rounded to the nearest 5 and amounts are rounded to the nearest £5m. Where the number of claims is less than 5, or the value of claims is less than £5m we have excluded that sector from our results. This is the case for the Mining & Quarrying and Public Administration, Defence and Social Services sectors.


Comments from our CEO, Luke Hamm