BioIndustry Association says that biotech companies would have been disproportionately penalised by the cap
An association representing over 300 bioscience companies has welcomed government’s new proposals to relax a cap on R&D tax credits.
The government had originally announced plans to limit R&D tax credit payments for small and medium-sized businesses to three-times their PAYE and national insurance contributions in order to prevent abuses of the system.
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