HMRC has published its latest statistics today for R&D tax credit claims for 2013-2014. See our infographic for the figures in a nutshell.
HMRC has published its most recent R&D tax credit statistics today (2013 to 2014) and they still show the number of SMEs claiming is rising - up 23%. Check out our infographic with the headline figures.
Since the introduction of the scheme in 2000, around 33,800 companies have claimed the SME relief.
As usual the sectors that dominate claims are "manufacturing", "professional, scientific and technical" and "IT and communications", which together make up 81% of claims by value.
10,470 SME claims were to reduce tax and 2,810 claims were for cash-back (loss making companies). 660 SMEs claimed under the Large scheme as subcontractors. The average amount claimed was £49,505.
By far the largest number of claims are from London and the South East, but there are still thousands and thousands of SMEs that are not claiming at all.
If you are developing software, designing new products or involved in engineering you are highly likely to be eligible, please contact us to see if we can help.