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BIA webinar: Upcoming changes to the R&D tax relief regime
The UK Government is changing how the R&D tax relief regime works, excluding some overseas R&D activities from claims, expanding the scope to cover cloud and data costs, and introducing anti-abuse measures.
Join us for this webinar with experts from HMRC and the BIA’s tax committee to learn about these changes and how they might impact your business.
Chair
- Colin Hailey, Partner at Confluence Tax and Chair of the BIA’s Finance and Tax Advisory Committee
Panelists
- David Harris, Senior Policy Advisor, HMRC
- Melissa Strange, CFO, Closed Loop Medicine and vice-chair of the BIA’s Finance and Tax Advisory Committee
- Richard Turner, Senior Managing Director, FTI Consulting
Speakers
Colin Hailey
Colin worked in the tax departments of both Arthur Andersen and Deloitte in London and Cambridge, UK. He left the Big Four professional services world behind in 2010 to start a new tax firm, Confluence Tax, where biotech and technology clients' needs could be met in a tailored way, while retaining an exemplary level of tax advice. Twelve years on, Confluence Tax remains the top tax advisory firm for biotechnology and technology clients, having established extensive networks within the life sciences sector, and having built a reputation as the go-to firm. He specialises in venture capital schemes, R&D tax credits, patent box, share incentives and M&A transactions within biotech and tech. He chairs the Finance and Tax Advisory Committee of the BIA and undertakes consultation work with HM Treasury and HMRC. Colin is a regular speaker and contributor on tax issues relevant to the knowledge economy.
David Harris
David is a Senior Policy Adviser in the Incentives and Growth team in HMRC’s Customer Strategy and tax design directorate. He joined Inland Revenue in 1994 and has worked on the design and reform of tax reliefs since the early 2000s, including the original large company R&D relief and the reform of Film Tax Relief. David’s background is in physics, including PhD research on neural networks and he’s enjoyed the opportunities that working on R&D relief presents to see what companies are doing and how they organise themselves. In his spare time he runs a book review blog and enjoys dog walking and cycling.
Richard Turner
Richard Turner is a Senior Managing Director at FTI Consulting and is based in London. Mr. Turner is a member of the UK Tax practice within the Corporate Finance & Restructuring segment. With more than 20 years of experience and being widely recognized as one of the leading UK tax specialists in life sciences, Mr. Turner has helped FTI Consulting establish itself as one of the leading tax advisory firms in life sciences. Richard leads the firm’s tax and innovation services, including intellectual property planning, research and development incentives and the UK Patent Box. Richard has had a wide range of professional experience, including working on research and development incentive claims for large, medium and small-sized enterprises and providing related transactional advice. He has also worked on and planning, licensing, advice, acquiring and divesting of intellectual property rights, and advising companies on cross-border supply chain and transfer pricing. Additionally, Mr. Turner has worked on developing insights into the clinical supply chain to allow life sciences companies to enhance their research and development tax incentives, preparing and presenting tax strategies for clients, long-term effective tax rate modelling and advising government and trade bodies on the design and implications for the UK Patent Box regime. Prior to joining FTI Consulting, Mr. Turner was a Partner at Deloitte and part of the UK Healthcare & Life Sciences leadership team.
Melissa Strange
Melissa Strange is CFO at Brainomix, an AI-powered MedTech, where she leads finance, HR and operations and is helping to guide the Company’s future direction. Melissa has spent 14 years working in life sciences, helping companies such as Summit Therapeutics, a NASDAQ listed biotech, Closed Loop Medicine, a TechBio developing combination prescription drug plus software products and Kuano, who are seeking to redefine drug discovery with Quantum and AI. With experience in corporate and commercial transactions, as well as wider organizational development and operational capabilities, Melissa has been actively involved in raising over £120M through UK and US private and public financings and helped secure ~£67M in non-dilutive funding.
