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Biotech Employee Equity Survey 2020 results – BEES

By CT Team | December 21, 2020

The Employee Equity Survey was run for biotech companies to enable them to benchmark equity distribution and the size of share option pools..

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R&D tax credits: PAYE cap implemented in 2021

By CT Team | November 18, 2020

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…

Budget 2020 tax update for biotech and tech companies

By CT Team | March 16, 2020

Entrepreneurs’ Relief and EMI: letter to HM Treasury

By CT Team | March 3, 2020

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.

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R&D cap’s off!

By CT Team | November 4, 2019

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…

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Confluence Tax: registered tax agents in Ireland

By CT Team | August 29, 2019

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…

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PAYE cap on R&D claims – you’ve got to be kidding

By CT Team | July 31, 2019

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…

Budget 2018 tax update – Confluence Tax

By CT Team | October 30, 2018

On October 30th Confluence Tax held a post-budget briefing to update clients on the tax implications of the Chancellor’s 2018 pre-Brexit budget.  Here is the slide deck of the presentation. Feel free to download it and do get in touch if you have any questions. Read more about UK R&D Tax Credits. View the presentation…

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2018 budget: a tax update for biotech and tech businesses

By CT Team | October 2, 2018

  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…

Questions to ask for an EMI scheme

Enterprise Management Incentives (EMI) share options guide

By CT Team | August 24, 2018

  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…