R&D tax credits > Client sectors > Professionals and science
Source HMRC R&D tax credits statistics 2021
The statistics published by HMRC for 2019-20 are provisional and have been uplifted to include estimates for claims not yet received.
Scientific research and development, including pharmaceutical and biotech activity, are more obvious examples of businesses that have R&D at the core.
We find qualifying R&D expenditure in the development of new or alternative materials, product development including trials or prototypes through to full scale production batches and the development of new or improved diagnostical tools with better sensitivity, range or accuracy.
We often find that companies need to innovate in response to changes in health, safety and environmental legislation.
This sector includes the following types of business.
Yes, professional, scientific and technical companies can claim under either scheme depending on their size and other deciding factors. Of the R&D tax relief claims made in 2018-19 so far, 87% of them were under the SME scheme equating to 61% of the value claimed.
Yes, professional, scientific and technical companies that have already claimed for R&D tax credits might find that they could claim even more by applying for corporate tax under the Patent Box scheme. In 2018-19, so far, 130 companies claimed under Patent Box, totalling £163 million in benefit.
Industry: Electronic Engineering
GovGrant identified different projects which could be claimed under large and small company R&D Tax Credit schemes
This allowed the client to make more R&D claims than if they had only claimed as an SME
