Businesses claimed £7.4 billion between 2019 and 2020, corresponding to £47.5bn of R&D expenditure
The number of R&D tax credit claims made for the year ending in March 2020 have increased by 16 per cent, with a total of £7.4 billion claimed, according to the latest data.
This corresponds to £47.5 billion of R&D expenditure, which is 15 per cent higher than the previous year, according to statistics from HM Revenue and Customs.
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