Biotech & Life Sciences R&D Tax Credits

The UK’s life sciences sector is Europe’s top hub for life science startup funding. Focusing on the multifaceted, scientific research of living organisms, life science includes biotech, pharmaceuticals, medical technology, digital health and more.

Under high demand within the last few years for the development of vaccines, life sciences innovations can also include new formulations, biological screening, compounds, species, strands, reagents etc.

R&D tax credits can offer the life sciences industry an additional tax deduction of up to 130% (SME example) off all qualifying innovation spend (changing to 86% on all expenditure on or after the 1^st April 2023 (View R&D tax credit changes)).

Biotech & Life Sciences R&D Tax Credit Examples

R&D tax credit qualifying life sciences projects must attempt to “resolve a scientific or technological uncertainty”. This is when a qualified professional cannot see a solution to a problem without exploratory testing and development.

The testing must attempt to fill a knowledge gap within the industry by changing a current product, process or service, or creating a new product, process or service.

Innovative Products

Developing, testing and analysing new or modified:

Drugs and compounds
Species and Strands
Use for existing drugs
Formulas to, for instance, improve shelf-life
Reformulation of a drug to, for instance, reduce side effects
Animal and crop feed improvements
Pharmaceutical, biological or medical devices
Remote care technologies
Prototypes

Innovative Processes

Developing, testing and analysing new or modified:

FDA compliant trials
Toxicology and safety testing
Biological screening and pharmacological testing
Preclinical testing
Assays, methods and protocols
Reagents for testing
Manufacturing methods, which could include automation or robotics
Tools or equipment

Contact Amplifi, R&D Tax Credit Specialists

Contact the Amplifi Solutions’ team for advice with your innovation and R&D tax credits

Biotech & Life Sciences R&D Tax Credits

Biotech & Life Sciences R&D Tax Credit Examples

Innovative Products

Innovative Processes

Contact Amplifi, R&D Tax Credit Specialists

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