Given the speculation in the press regarding the withdrawal of Entrepreneurs’ Relief (ER), I wanted to bring to your attention that Enterprise Management Incentive (EMI) share options rely on ER for their tax efficiency, in enjoying a 10% rate of capital gains tax.

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…

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…

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…

  Invitation to the essential 2018 post-budget briefing and general tax update for biotech and tech companies a free event We’ll keep it brief as you’re all busy but we’ll distill the significant bits of Chancellor Philip Hammond’s budget and discuss how they relate to biotech and tech businesses. The Confluence Tax team will be…

  Enterprise Management Incentives (EMI) share options guide COMPANIES in the biotech and tech spaces have a constant need to incentivise staff and build motivated teams to prepare them down the line for a sale or investment. Part of that process should include consideration of equity incentives and the tax implications of granting these share…

A tax perspective Tax is our world. We live and breathe it and always find the most tax-efficient – and legal – solutions for our clients, that’s a given. Film partnerships do not generally figure in the tech and biotech niche we inhabit, but they’ve caught our attention in the press recently, so here’s our…

THERE IS no doubt that biotech fundraising rounds are getting bigger, companies are getting bigger and, as tax advisors, we are being faced with previously unheard of issues. Take profits – these could result in corporation tax liabilities, groups so large or profitable that they cannot claim SME R&D tax credits or future milestone income…

You’re not out of time but don’t be out of touch… Bad Hall & Oates songs aside, the Patent Box is a complicated beast and 2018 is likely to be a crucial year for determining whether you should elect in. So here is some clarity if yours is a loss-making company. The Patent Box provides…

WHY THE UK ROCKS FOR RESEARCH During a January visit to San Francisco to coincide with the JP Morgan conference, it was encouraging to hear from one US biotech company CFO how he considered the UK an attractive place to base his company’s research activities – above and beyond any other. Among the reasons why…