Source Advisors Logo

HMRC R&D tax credits statistics 2023 – 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 2021-22.

Key points to show the value of this opportunity to innovative business in the UK

Source HMRC R&D tax credits statistics 2023

Claims since the schemes began

Over 650k claims since schemes began

Projected R&D claims 2021-2022 compared to previous year

4% increase from previous year

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 2021-22 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 2021-2022 projected

62%
50% total amount claimed

The Information & Communication, Manufacturing, and Professional, Scientific & Technical sectors continued to have the greatest volume of claims, making up a total of 62% of claims and 67% of the total amount claimed.

R&D claims are concentrated in companies with a registered office in London and the South East with 37% of all claims and 50% of the total amount claimed.

To date £55.47bn in tax relief has been claimed through these schemes.

Source Advisors can help your business optimise the value of your R&D and identify commercial opportunities in your IP.

Comments from our CEO, Luke Hamm

See other years’ HMRC statistics

Welcome to our new website. GovGrant is now known as Source Advisors. To find out more click here