Research and development (R&D) tax credits statistics 2022: What they say about the health of UK R&D

    • Nov 08, 2022
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This guide looks at:

  • Why do R&D tax credit statistics matter?
  • What do the 2022 R&D tax credit statistics reveal?
  • How Leyton UK can help.

Key observations

HMRC’s numbers from their R&D tax credits statistics 2022 report show that R&D investment has taken a big hit. We dive deeper into the stats to reveal what they really say about the health of UK R&D, focusing on the following key points:

  • R&D expenditure and cost of support claimed figures for 2019 to 2020 have been revised down
  • HMRC’s R&D statistics for 2020 to 2021 include estimated “uplifts”
  • Revisions in next year’s publication could show a worse picture
  • R&D expenditure has declined for the first time since the 2009 to 2010 tax year
  • Year-on-year expenditure has declined for several UK regions, including East of England
  • Year-on-year expenditure has declined for several industry sectors, including Manufacturing
  • Falling R&D expenditure is a blow to the government’s ambitious growth plan
  • Future R&D funding may be further depressed by planned reforms coming in April 2023

These areas are relevant for the R&D Tax Relief schemes, including:

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