New statistics from HMRC have revealed there has been a 10% year-on-year rise in the number of claims for research and development tax credits submitted by manufacturing firms in 2014-15.
R&D tax credits are designed as a tax relief to encourage greater research and development spending and innovation. The latest data shows that manufacturing companies submitted almost 6,345 claims for R&D tax relief in 2014-15, up from 5,815 in 2013-14. The total amounts claimed in the period rose from £635m to…
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