BIA submission to the 2018 Autumn Budget

The BIA has responded to HM Treasury's call for representations ahead of the Autumn Budget 2018.

In our submission, we called for:

• pre-revenue SMEs to have the option to surrender R&D Allowance losses arising on capital expenditure for up-front cash credits
• grants for manufacturing investments
• R&D Tax Credits to better reflect 21st Century life sciences R&D, notably the purchase of data for R&D purposes 
• HMRC to update the HMRC list of eligible foreign institutions for R&D Expenditure Credits to underscore the government’s commitment to global collaboration
• a review of to identify fiscal policies to support early-stage companies to offer competitive salaries  relative to more established companies