R&D tax credits: PAYE cap implemented in 2021

Biotechnology-laboratory

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…

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Budget 2020 tax update for biotech and tech companies

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THE 2020 Budget was an interesting one, especially for biotech companies. Confluence Tax’s team presented the headline points during the company’s Post-Budget Briefing event held on March 12. The focus was on the main elements that will affect companies from a tax and finance perspective.

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Confluence Tax: registered tax agents in Ireland

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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

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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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