Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many SMEs claiming R&D tax credits have R&D expenditure between 25 percent and 39 percent of their total expenditure.

To support those most impacted by the Research and Development (R&D) tax relief rate changes announced at Autumn Statement 2022, the additional tax relief for R&D intensive SMEs announced at Spring Budget 2023 is targeted specifically at loss-making R&D intensive SMEs, who are most affected by the changes.