Oxfordshire Tops Regional Innovation League
Oxfordshire leads the way as the county with the highest percentage of innovative businesses across the South East of England’s 19 unitary authority areas.
21 April 2020
Oxfordshire leads the way as the county with the highest percentage of innovative businesses across the South East of England’s 19 unitary authority areas.
A total of 885 successful claims were made by Oxfordshire companies (2.67% of all enterprises within the area), including SMEs and large businesses, for R&D tax relief in the latest 2017-18 figures released by HMRC.
This puts Oxfordshire at the top of an Innovation League Table produced by innovation funding specialists ABGI UK. It shows the percentage of businesses making successful R&D tax claims in each of the region’s unitary authority areas.
The latest updated HMRC figures show that South East companies secured a total of 7,440 R&D tax relief claims in the 2017-18 period. A total of £810 million in tax relief was claimed on the back of over £6.1 billion worth of innovation-focused investment made by companies in the region.
The South East of England League Table shows Wokingham as the second most active area with 2.62% of businesses securing successful R&D tax relief claims while Reading ranked third with 2.16% of businesses claiming. Windsor and Maidenhead is at the foot of the table with only 0.75% of businesses securing a successful claim.
Article originally published on The Business Magazine
