Taxation of the life sciences sector

Gary Ashford

Gary Ashford (Harbottle and Lewis) examines some of the tax issues facing those operating in the industry.

The life sciences sector is a significant contributor to the UK economy. According to the Offices for Life Sciences report Bioscience and Health Technology Sector Statistics 2018 the sector value is £73.8bn of which £49.8bn relates to biopharmaceuticals and £24bn from medical technology. The majority of people in the life sciences sector work in medical technology (127 400 or 51% of the whole industry). This amounts to 3 861 of the total 6 015 companies (64%) in the life sciences sector.

As scientists around the world work together to fight the challenges posed by Covid-19 pandemic this article examines some of the tax issues facing those operating in the industry.

Research and development

Research and development (R&D) reliefs are important incentives to encourage investment in...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this article in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

Gary Ashford (Harbottle and Lewis) examines some of the tax issues facing those operating in the industry.

As scientists around the world work together to fight the challenges posed by Covid-19 pandemic this article examines some of the tax issues facing those operating in the industry.