R&D tax relief statistics
HMRC has published updated statistics for R&D tax relief. Key points for 2024/25 include the following:
- the provisional estimate of total R&D tax relief claimed is £8.2 billion, 5% higher than the previous year;
- the number of R&D tax relief claims is estimated to be 40,325, a decrease of 17% from the previous year; and
- the number of first-time claimants is estimated to have increased slightly on the previous year, from 5,250 to 5,850, based on provisional figures.
The September 2026 publication is the first publication to include statistics for the new merged R&D expenditure credit and enhanced R&D intensive support (ERIS) schemes, which replaced previous R&D tax relief schemes for accounting periods beginning on or after 1 April 2024.
Claiming a tax refund on pensions
HMRC has published a tool to help taxpayers claim a refund of tax paid on their pension. The tool identifies the correct process for the taxpayer to follow based on their circumstances.
State pension and the personal allowance
In his speech to the Labour Party conference, the Prime Minister, Andy Burnham, confirmed the commitment made by the Keir Starmer government at the Budget 2025 that “low-income pensioners won’t be dragged into paying income tax in this Parliament”. The government has not yet explained how this will be achieved.
Further information
Code of taxation for banks
HMRC has published its annual report for 2026 on the operation of the code for taxation of banks. The report notes that the code “continues successfully to promote positive behaviours across the banking sector”.
New vaping products duty
Vaping products duty (VPD) and the vaping duty stamps (VDS) scheme came into effect on 1 October 2026, subject to a transitional period for VDS. A government press release explains how VPD and VDS are expected to work and what the government hopes to achieve from their introduction. Further, the press release sets out the new personal allowance rules for travellers bringing vaping products into the UK.
How to build better tax system
ICAEW outlines the five institutional pillars needed to ensure the proper functioning of the UK tax system.
Tax Faculty
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