The latest HMRC figures show that Cardiff has the highest percentage of innovative activity in Wales, with 315 successful R&D tax relief claims made for the 2017-18 financial year. This amounts to 2.4% of all businesses in the area, with finance and software companies being among the top sectors investing in R&D.
In Wales, figures released by HMRC show a total of £95 million was received back for 1,530 companies, who invested a total of over £525 million in R&D.
Bridgend county ranked second in the area with 2.32% of businesses claiming R&D, with Denbighshire coming in third with 2.12%.
If your company is undertaking innovative activities, you may be eligible for the R&D tax credit. To find out more and to check your eligibility, contact us today.