Story details
HM Revenue and Customs reported on 29 September that provisional research and development tax relief claimed for the UK 2024–25 financial year totalled £8.2 billion, 5% above the prior year. The associated qualifying R&D spending was estimated at £51.0 billion, up 7%.
The estimated 40,325 claims were 17% fewer than a year earlier. HMRC said this was the first publication to include the merged R&D expenditure credit and enhanced support for research-intensive SMEs; the latest-year figures remain provisional and may be revised as late claims arrive.