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Are businesses enjoying the full benefits of R&D relief?
KEY POINTS
- Research and development tax relief claims by small and medium-sized businesses have increased significantly.
- Claims processed by HMRC for 2013 reach 15 000 a 30% increase.
- Large company claims are static and the value of the UK’s research and development economy is dwindling.
- Tax relief is only part of the picture for UK innovators and is limited to corporates.
- UK companies are still almost absent from the global top 20 companies undertaking R&D work.
HMRC recently published the annual statistics for companies claiming research and development (R&D) tax relief.
Initial reviews of the figures (see R&D Expenditure and Costs and Claims; both below; click image to enlarge) have pointed to a dramatic increase in small and medium-sized companies (SMEs) claiming this relief as the uplifts...
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