HMRC’s latest R&D tax relief statistics for the period 2022-2023 make for interesting reading, and we’ve broken down some of the key figures for you. TheR&D tax relief scheme has undergone significant legislative and compliance reform in recent years to reduce fraud and error, while attempting to maintain the scheme’s generosity. We’ve provided some key highlights from the statistics below, along with information as to how we’re able to assist any claimant companies looking to submit a claim for Research and Development Tax Relief.

The Data Analysed

Taking into account submissions made to 31 May 2024, the number of claims fell in 2022-23 by more than 21%, dropping to just under 66,000. This decline was primarily driven by a 23% reduction in the more generous SME claims, while there was a 9% increase in the less generous RDEC claims.