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

Colin-Hailey-headshot-Confluence-tax

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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Entrepreneurs’ Relief and EMI: letter to HM Treasury

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!

Open padlock

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

Sunday_Times_Confluence_Tax_RandD_tax_credits

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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