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George’s marvellous medicine

07 October 2014 / Maria Kitt
Issue: 4472 / Categories: Comment & Analysis , R&D relief , Business , Companies

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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