R&D tax credits: A health tech guide
Health Tech World are in partnership with ABGI UK and share their knowledge on how your firm could tap into this often-overlooked tax break.
03 March 2021
Innovative firms looking to disrupt and improve healthcare are exactly what the world needs – and demands – right now. And there is plenty of appetite among investors keen to back their efforts.
For example health tech drew around US$10bn of US and European VC investment in the first three quarters of 2020, up US$1.2bn on the previous year data from SVB shows.
But beyond the pitch deck, there may be another financial win for your health tech business within your grasp.
R&D tax relief is an industry agnostic incentive scheme enabling companies from every industry sector to make a claim, as long as they are undertaking projects aimed at advancing the baseline of technology or science; and are using competent professionals in addressing technical uncertainties along the way.
Even though in principle, this sounds simple enough, it’s very important for a business to be able to clearly define the advances they were hoping to achieve, as well as the uncertainties they faced along the way.
If they don't, their claim could be rejected, they could lose thousands in relief, face the inconvenience of an HMRC enquiry or the pain of substantial penalties.
Article originally published on Health Tech World
