Research and Development spending increases

Research and Development spending increases

The Office for National Statistics (ONS) has revealed that UK businesses spent £25 billion on Research and Development (R&D) in its latest figures for last year.

Data from the ONS showed that total R&D expenditure increased from £23.7 billion in 2017 to £25 billion in 2018.

Leading sectors for research and development

  • The aerospace industry saw the largest increase in R&D expenditure with a total spend of £210 million
  • The UK telecoms sector also experienced fast growth in R&D spending, increasing by 25.4% in 2018 to £192 million.

According to the ONS, the government’s funding of R&D amounted to £1.7 billion in 2018, which accounted for 6.9% of all R&D expenditure. The data revealed that machinery, equipment and shipbuilding were the biggest beneficiaries from government funding.

R&D tax claim service

For businesses spending on research and development R&D Tax Credits are one of the most attractive tax reliefs available, yet there are still thought to be thousands of businesses across the UK missing out on making a claim.

Our award-winning team carry out many R&D Tax Claims across various industry sectors and have secured clients more than £4 million worth of tax credits to date.

Contact us to discuss making an R&D tax claim, or visit our R&D Tax Credits page to find out more about our service.

956 562 Rouse Partners

Paul Woodward

With more than 20 years in tax, Paul provides tax compliance and advisory services to clients, and specialises in R&D and capital allowance claims. See more

All stories by : Paul Woodward

This information has been produced by Rouse Partners LLP for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of this information is accepted by Rouse Partners LLP. In all cases appropriate advice should be sought before making a decision.

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