White paper: Research and development (R&D) tax credits statistics 2022

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

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

This guide looks at:

Key observations

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

Download the whitepaper

Thank you for your interest!