The estimated total number of R&D tax credit claims for the year ending March 2020 is 85,900, an increase of 16% from the previous year. The increase is primarily driven by a 16% rise in the number of SME R&D claims to 76,225.
The estimated total amount of R&D tax relief support claimed for the year ending March 2020 is £7.4 billion, an increase of 19% from the previous year.
The corresponding R&D expenditure is £47.5 billion, 15% higher than the previous year.
Overseas expenditure may qualify for R&D tax credits.
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