As the R&D tax credit programme evolves and more companies submit claims, the HMRC figures has provided new information based on claim submissions received on or before 31 March 2020. Year on Year, the R&D Tax Credit (RDTC) claim submissions are increasing and that still includes first time applicants.  RDP Associates (RDP) is a part of these statistics, since we have been assisting SMEs, Large and publicly traded companies prepare and file RDTC claims since the programme started.

Key Points from the Data Provided from HMRC Figures:

  •  The 85,000 RDTC claims submissions, generated a total tax relief amount of £7.4 billion, which is an increase of 19% from the previous year.
    • The £7.4 billion is broken down as follows:
      • £4.4 billion was issued to RDTC claims
      • £3.1 billion was issued to RDEC claims
  • A key breakdown was where the companies were located that submitted RDTC claims, which included:
    • London – made up 20% of the submissions and received 31% of the £7.4 billion given in relief;
    • South East – made up 15% of the submission and received 18% of the £7.4 billion given in relief.

Total RDTC claims by industry

HMRC Figures

As usual, the Manufacturing, Information and Communication, and Professional, Scientific and Technical industries make up the bulk of the RDTC claim submissions.

Of the 14 Industries Listed, Are You Claiming RDTC and / or RDEC?

So, check out our blog to find out if R&D Tax Credits apply to you  

On our homepage, you can also complete RDP’s R&D eligibility test.

RDP Associates has a team of technology professionals tailored to your industry and only requires 1 to 3 short meetings to complete your claims for you.  Our motto is for us to worry about your RDTC claim and for you to focus on expanding your company.

Already Claiming RDTC?

So, are you 100% positive you have the right R&D provider for you?

Why It’s Hard to Pick the Right R&D Tax Credit Provider RDP Associates

We offer a complimentary service to assess and review your most recent claim to confirm if it was done the proper way and also to ensure it is maximised.

So, contact us here to learn more about the HMRC Figures or for a free consultation!