The pharmaceutical industry is the most research-intensive business sector in the UK, with £4.1 billion spent on research and development in 2016 alone. This accounts for almost a quarter of total expenditure on R&D.
Potential R&D Claims
Many companies are conducting qualifying R&D tax relief purposes in this sector on a daily basis without even realising it.
What may seem as typical day-to-day challenges in the office and field may qualify. This may include developing new products, processes or services or duplicating existing products and processes in an appreciably improved way.
Typical qualifying activities within this sector include but aren’t limited to;
The development of easily soluble medication which previously only came in pill or tablet form.
The redevelopment of certain medications which have been altered due to the prohibition of certain ingredients by EU legislation.
The development of integrated software systems which has increased the efficiency of certain NHS departments by over 60%
Potential Patent Box Claims
Some examples of patents in this sector include but are not limited to;
Nasal cannula manifold with an innovatively designed inlet and outlet valve.
The development of a medical garment which regulates body temperature and improves recovery time from various illnesses.
If you think you might be eligible for Research & Development Tax savings or to see how we can help you please get in touch with us.
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