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Tax in the news – impacts on biotech and tech companies

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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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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…

F-Star collaboration

By CT Team | May 31, 2018

As announced today (May 31), Confluence Tax is delighted to have assisted F-star on the acquisition of the asset-centric vehicle F-Star Gamma by Denali Therapeutics, leveraging F-star’s Modular Antibody Technology™ beyond immuno-oncology. Read the full press release here. 

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BREXIT AND TAX: WHAT’S IN STORE FOR BIOTECHS?

By CT Team | April 19, 2018

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…

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Finalist in Tolley’s Taxation Awards 2018 – Confluence Tax

By CT Team | April 3, 2018

  CONFLUENCE Tax is delighted to announce the team has been shortlisted in the Tolley’s Taxation Awards 2018. The team is a finalist in the category Best Independent Consultancy Firm and is the smallest company to be selected. ‘It’s fantastic to be chosen as a finalist, especially as it’s the first time we’ve applied for an award.…

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HMRC Enterprise Centre: why the delays?

By CT Team | February 6, 2018

IN LIGHT of the November 2017 budget where the Chancellor announced the importance of supporting the R&D sector and growth of small businesses, why are we experiencing delays at the HMRC Enterprise Centre? Confluence Tax’s Anne-Marie Rickels looks at the problems and what can be done. Venture Capital Schemes, such as VCT, EIS and SEIS,…

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BUDGET 2017: BEST BITS

By CT Team | November 24, 2017

CONFLUENCE TAX held a post-budget tax briefing for those in the biotech and tech space on November 23, 2017. Here we’ve shared the ‘need to knows’ for all knowledge-intensive companies and investors WHILE MANY commentators on the autumn budget were unmoved, we welcomed various tax changes that affect the knowledge-based businesses we work with –…

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Budget 2017 tax predictions: EIS, SEIS and VCT relief

By CT Team | November 8, 2017

SWEEPING aside the Chancellor’s big challenges of income tax rates, self-employed vs employed workers and the headache of the gig economy, an area of tax with direct relevance to technology and biotechnology companies that I believe is ripe for change in the 2017 budget is venture capital schemes – EIS, SEIS and VCT relief. These…

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Confluence Tax and Dutch firm Asjes Bisseling form strategic alliance

By CT Team | November 1, 2017

            Clients to benefit from expanded tax advice network across Europe UK BASED specialist tax advisory firm Confluence Tax and Netherlands-based AsjesBisseling have formed a strategic alliance that will benefit clients across Europe. Confluence Tax is the only tax advisory firm in the UK to specialise in advising biotechnology and…