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<p>The Government offers two separate Research and Development (R&D) tax reliefs,
the Research and Development Expenditure Credit (RDEC) and an additional Corporation
Tax deduction for Small and Medium-sized enterprises. Both are available to loss-makers
as well as profit-makers.</p><p>The estimated total number of R&D tax credit claims
for the year ending March 2020 was 85,900, with total support claimed £7.4 billion.
This corresponds to £47.5 billion of R&D expenditure.</p><p>The Government is
currently undertaking a review of the reliefs. The objectives of the review are to
ensure the UK remains a competitive location for cutting edge research, that the reliefs
continue to be fit for purpose, and that taxpayer money is effectively targeted.</p>
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