Posts Tagged ‘Brexit’

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

Union-Jack-flag-with-Brexit-word

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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Tax in Switzerland vs UK tax systems: no comparison?

Mountains-in-Switzerland–for–BIA-tax-trip

WHEN I received the invitation to attend the UK BioIndustry Association’s biotech fact-finding mission to Switzerland to see how the biotech sector might interact in a post-EU UK, I was intrigued to see how it could work for tax. If you indulge in lazy comparisons then you could muse on whether a devolved UK of England, Scotland,…

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Tax discovery mission to Switzerland with BIA

Travel is fatal to prejudice.  When doing comparative summaries of tax systems around the world, Switzerland is always the awkward territory. The Swiss have both a federal and a cantonal (local) system of tax, and each tax liability is deductible from the other, resulting in impossible calculations. The tax rate is also somewhat negotiable. All…

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Brexit: tax implications for biotechnology and technology companies

Brexit-sign

Confluence Tax offers a technical briefing on the UK’s impending EU exit and the potential tax implications for tech and biotech companies ALTHOUGH tax is just one of a raft of implications of Brexit, as an investment driver it will become relevant to consider what the tax implications will be and the potential outcomes. It is rare…

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