Posts Tagged ‘Brexit’
R&D cap’s off!
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…Read More
BREXIT AND TAX: WHAT’S IN STORE FOR BIOTECHS?
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…Read More
Tax in Switzerland vs UK tax systems: no comparison?
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,…Read More
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…Read More
Brexit: tax implications for biotechnology and technology companies
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…Read More