On 24 September 2026, HM Revenue & Customs released the September 2026 edition of Research and Development Tax Credits Statistics, providing comprehensive data on claims made under the SME R&D relief and the Research and Development Expenditure Credit (RDEC) schemes for accounting periods ending in 2024. This publication is the primary source for tracking the uptake, value, and sectoral distribution of the UK’s flagship innovation incentives, which collectively support over £50 billion in annual qualifying expenditure. The statistics arrive amid the ongoing merger of the two schemes into a single RDEC-like regime effective from April 2024, making this dataset crucial for assessing transitional impacts.
Key Takeaways
- Claim Value Surges 18% Year-on-Year: Total support claimed exceeded £8.5 billion, with SME scheme claims averaging £68,000 and RDEC claims averaging £1.2 million, reflecting increased qualifying expenditure in AI, life sciences, and green technology sectors.
- Enhanced Compliance Scrutiny: HMRC enquiry rates rose to 12% for SME claims, with a focus on subcontracted R&D, software development boundaries, and the new qualifying cost categories (data, cloud computing, pure mathematics) introduced in April 2023.
- Regional Disparities Persist: London and the South East account for 48% of total relief value, prompting renewed calls for targeted outreach to manufacturing hubs in the Midlands and North to improve geographic distribution of innovation funding.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement