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HM Revenue & customs (HMRC) has recently published its annual statistics for company claims for Research & Development (R&D) tax relief claims. There continues to be an increased uptake in claiming the generous relief, partly as the relief becomes even more generous and partly as more and more companies become aware of the relief for the first time.
The data is for the 2012-13 financial year. The headline statistics are:
There are still many companies failing to make claims for various reasons. Our experience can summarise these predominantly into four categories being:
The three tax reliefs for innovative companies are very generous and are:
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