The tax advisors to biotechnology and technology businesses
Our Biotech Equity Survey is back!
Once again we are running the Biotech Employee Equity Survey (BEES). This is open to all biotech companies in the UK and the aim is to build up a picture of equity distribution within the sector and monitor trends year-on-year. For more information and to take part click the button below. A webinar will follow over the summer, which will be open to everyone who takes part in the survey.
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Confluence Tax merger announced
We are delighted to announce that Confluence Tax has merged with a US counterpart, Frazier & Deeter, headquartered in Atlanta, Georgia. The merger enables us to continue to offer the full suite of UK tax services, with the addition of a host of US accounting and tax services, including US IPO financial support, public and private company audits, transfer pricing and US/UK company restructuring...
Latest blog posts
Confluence Tax announces merger with US firm Frazier & Deeter
November 11, 2021 Cambridge, UK – Confluence Tax has today announced it is to merge with a US counterpart, Frazier & Deeter, headquartered out of Atlanta, Georgia. Confluence Tax founder Colin Hailey will continue to lead the firm from its office in Cambridge, while working closely with the existing UK office of Frazier…
R&D tax credits: consultation response 2021
The Chancellor of the ExchequerHM Treasury1 Horse Guards RoadLondonSW1A 2HQ June 2, 2021 By email: RDTaxReliefs@hmtreasury.gov.uk Dear Chancellor, R&D Tax Reliefs: consultation Thank you for the opportunity to respond to the above consultation. Our comments follow. Respondent’s backgroundConfluence Tax is an 11-year established tax advisory firm; the only such firm to provide advice to businesses…
Enterprise Management Incentives (EMI): Confluence Tax response 2021
The Chancellor of the ExchequerHM Treasury1 Horse Guards RoadLondon SW1A 2HQ May 24, 2021 Dear Chancellor, Enterprise Management Incentives: call for evidence Thank you for the opportunity to respond to the above call for evidence. Our comments follow. 1. – 5. Respondent’s detailsConfluence Tax is an 11-year established tax advisory firm; the only such firm…
Employment related securities: guide to HMRC filing
EMPLOYMENT related securities (ERS) are a common way of incentivising employees within the technology and biotechnology industries. However, issuing shares or share options results in a reporting obligation to HMRC, the UK tax authorities. This quick guide covers the most common queries regarding these annual returns and what your obligations are for filing an ERS…
Biotech Employee Equity Survey 2020 results – BEES
The Employee Equity Survey was run for biotech companies to enable them to benchmark equity distribution and the size of share option pools..
R&D tax credits: PAYE cap implemented in 2021
But there is no need to panic as most companies, including those in biotech and tech, will be minimally affected by the changes. The PAYE cap legislation around SME R&D claims has been released by HMRC (November 12). Crucially, the exemption to the cap that we, together with the BIA, lobbied hard for, has been included. The key takeaway messages from today’s…
R&D cap’s off!
SOME GOOD news has arisen from the Brexit maelstrom and the biotech industry in the UK has been handed an early Christmas present. Given the forthcoming general election and closing of Parliament, there is no time this year for any proposed draft law on the PAYE cap on R&D tax credits to be released or…
Confluence Tax: registered tax agents in Ireland
PRESS RELEASE August 29, 2019 We are delighted to announce that Confluence Tax is now registered as a tax agent in the Republic of Ireland. Many UK-based companies that need to retain a foothold within the EU following Brexit – for regulatory reasons, for example – are establishing Irish subsidiaries. This is driving the need for tax advice and support…
PAYE cap on R&D claims – you’ve got to be kidding
HM Treasury has consulted on its plans to introduce a cap on R&D tax credit cash claims – of three times a company’s PAYE and NI. And the biotech sector has responded with a resounding “What the…!” The consultation does propose some refinements, such as the ability to include the PAYE and NI of other…
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Confluence Tax
Registered office: 1010 Cambourne Business Park, Cambourne, Cambridge CB23 6DW, UK
+44 (0) 7855 502917
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Confluence Tax is a trading name of Frazier & Deeter UK LLP, a limited liability partnership registered in England and Wales with company number OC425491. Registered office Tower 42, 33rd Floor, 25 Old Broad Street, London EC2N 1HQ, UK
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