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Companies are missing out on tens of thousands of pounds in free cash each year…don’t let it be you.

The 2017 government R&D tax credit statistics have been published and make for a very interesting read. The good news is that more and more companies are becoming aware of the scheme and are taking advantage of the significant cash benefits, producing a healthy set of statistics:

 

  • The average value of an SME claim now stands just below £62,000, representing a 20% increase on the previous year’s figure.
  • The large company research and development expenditure credit (RDEC) claim now has an average value over £348,000.
  • Across the UK there were 26,255 claims for R&D tax credits, an increase of 19% over the previous year.

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increase in the number of companies claiming R&D tax credits

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increase in the average value of an SME claim

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increase in total relief claimed

average value of an SME claim

average value of a large company claim

Although the above figures are great news, the statistics show that there is still a lot to be done. There is still a huge number of eligible companies not benefiting from the scheme who are missing out on the opportunity to reclaim tens of thousands of pounds in free cash each year.

In addition, there remains an overconcentration of claims in companies based in London, the South East or the East of England (46% of all claims and 62% of the total amount claimed), where it is often much easier to obtain specialist R&D tax credit advice.

LimestoneGrey tax credit consultants are hoping to change this. With their refreshingly simple approach we aim to make R&D tax credits easier and more accessible.

Why not give Lime a call today to see how we can help your business secure R&D tax credits. Call 0330 223 4 223 (local rate) for a free no obligation chat with a chartered R&D tax specialist.

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