Finance and Tax Advisory Committee (FTAC)

The BIA Finance and Tax Advisory Committee (FTAC) guides the BIA’s policies and initiatives to create a supportive financial environment for the innovative life sciences and biotech companies in the UK.

The committee is the forum where BIA members can directly input into policy development and interactions with Government on finance and tax matters.

FTAC Priorities

1. Connect

We will continue to invite guest speakers and recruit new members from the BIA membership, particularly specialists in areas we don’t currently cover (e.g. accounting and grants), members outside the golden triangle, and companies working in emerging sub-sectors of our industry, such as digital health.

2. Inform/Support

We will pro-actively engage with HM Treasury/HMRC on anticipated tax changes, particularly capital gains tax and the implementation of the PAYE cap, to ensure the BIA is first in the conversation. We will follow the National Security and Investment Bill and inform the BIA’s representations to Government. We will work with the British Business Bank and Office for Life Sciences, and other partners and stakeholders, to identify actions that could increase the availability of finance for our sector.

3. Expert Advice

We will look at issues related to grant funding and how BIA members can be supported to access it. We will keep members informed about the above issues and how they might need to respond.