Taxation of the life sciences sector

The life sciences sector is a significant contributor to the UK economy. In the UK, there are important valuable tax issues for this sector to support the financing of medical research, as well as the development, protection and exploitation of intellectual property (IP). Advisers supporting clients in the life sciences sector should also review the international structure of their business arrangements to ensure it is BEPS compliant. In view of the recent reduction in the lifetime limit for what was entrepreneurs’ relief, consideration should also be given to any future exit plans.