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This year’s HMRC statistics once again highlight the success of R&D tax credits in driving forward innovation in UK business.

HMRC has released provisional figures for R&D tax relief claims in 2016-17 which will be subject to revision in next year’s publication. They have also significantly revised the previously released claim stats for 2014-15 and 2015-16.

Things are certainly on the up. The revised stats from 2014-15 and 2015-16 show the number of claims being made are up by 22% while the total amount claimed has increased by 25% and the total value of R&D expenditure against which claims were made has also risen by 16%.

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