New data published by HMRC has revealed the hotspots for R&D tax relief claims.
R&D tax relief is a tax incentive from the UK Government designed to encourage companies to invest in R&D. The specialist tax relief has been around since 2000 to help innovative businesses undertaking R&D related activity claim a generous tax deduction or a cash refund from HMRC.
West Yorkshire-based businesses topped the league for the number of claims for R&D tax credits in 2016-17 at 1,175 claims, followed by South Yorkshire on 625 and North Yorkshire on 360.
The largest number of claims across the region came from manufacturing companies (925) who collectively claimed £45m, followed by information and communications firms (465) who claimed £25m, followed by professional, scientific and technical businesses (400) who claimed £25m.