BIA welcomes UK government's R&D tax credit cap amendment

20 March 2020

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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