R&D good times reflected in 30% reclaims boost - West Midlands' SMEs claim £35M

Figures just released by HMRC in its annual 'Research and Development Tax Credit Statistics' illustrate a 30% increase in claims by SMEs over the previous year's (2011/12) figures.  SMEs took up the initiative last year with 13,000 claims (up to March 2014) clawing back over £600m in tax reclaims against corporation tax.From 12 regions, London and SE England combined came in as the high claimers with 4,600 claims amounting to £265M with the West Midlands following up in fourth place with 1,090 claims and £35M claimed. The significant increase is thought to be attributable to improvements