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Responding to the latest lockdown announcements in the UK, Chancellor Rishi Sunak has announced a new package of support for businesses worth around £4.6bn.

Innovation funding specialist ABGI UK has called for stricter measures and greater regulation of advisers after more than £300m incorrect and illegitimate R&D tax claims were identified within HMRC’s annual report.

Since 2000-01, when the R&D tax credit schemes were launched, over 300,000 claims have been made and £33.3bn in tax relief claimed.

Wales has seen another rise in R&D (research and development) tax credit claims, according to statistics released by HMRC.

The South East has seen another significant rise in R&D (research and development) tax credit claims, according to statistics released by HMRC.

The North West of England has seen another rise in R&D (research and development) tax credit claims, according to statistics released today by HMRC.

Scotland has seen another rise in R&D (research and development) tax credit claims, according to statistics released by HMRC yesterday.

The East Midlands has seen another rise in research and development tax credit claims, according to statistics released by HMRC.

Yorkshire and Humber has seen another rise in R&D (research and development) tax credit claims, according to statistics released today by HMRC.

London has seen another significant rise in R&D (research and development) tax credit claims, according to statistics released today by HMRC.

A formalwear hire firm whose business “fell off a cliff” when weddings were postponed during lockdown is accelerating its move into the emerging market for renting everyday clothing.

As HMRC concludes consultation on the abuse of research & development tax relief at the end of August, ABGI-UK’s Scott Henderson calls for the regulation of advisers at a time when the UK needs to be globally competitive