Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to his Departments R&D Tax Reliefs report published in November 2021, how much and what proportion of the £47.5 billion of research and development expenditure that UK companies claimed tax relief on was for activities taking place outside of the UK.
HMRC previously produced an estimate of £4 billion to £7 billion for overseas expenditure in the year ending March 2018 out of £36.8 billion of the total Research and Development expenditure used to claim tax credits.