BIA welcomes UK government's R&D tax credit cap amendment
The UK BioIndustry Association (BIA) has welcomed revised proposals put forward by the government to ensure that genuine biotech companies are not penalized by a cap on R&D tax credits.
A cap that would limit R&D tax credit payments to small and medium-sized enterprises (SMEs) to three-times their PAYE (pay-as-you-earn) and national insurance contributions was first announced in November 2018 by the then Chancellor Philip Hammond.
Cap would 'inadvertently impact genuine UK biotechs'
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