HMRC R&D tax credits statistics 2018
The latest HMRC R&D tax credit statistics re-assert the value of these vital tax incentives to innovative companies. The statistics also begin to demonstrate some new trends – as well as continuing some others from previous years which will be encouraging to SMEs and large companies alike. There is a growing awareness and uptake of the R&D tax credit incentives, and the average claim value continues to rise.
- The number of claims submitted to HMRC in the last year has more than doubled.
- For SMEs, the average claim value for 2016-17 is £53,876.
- The number of SMEs making a claim has more than doubled since 2013-14.
- 75% of SMEs are making a claim worth less than £50,000.
- The average RDEC claim for 2016-17 is worth £272,881.
- A massive 5,900 RDEC claims were submitted in 2016-17, representing a 185% increase since its introduction.
- This is further shown by the fact there are now more SMEs claiming via RDEC than there are large companies.
It is important to note that the statistics for 2016-17 are not yet complete. This is because returns for this period can still be submitted past the publication date. As a result we expect this data to be revised next year, and so the following figures should be viewed as provisional.