The Life Sciences sector encompasses many strands but is underpinned by the power of medical technology, biopharmaceuticals, genomics, diagnostics, and digital health. Investing in life sciences represents an engine for future economic growth. The UK has an international reputation in this area, making it a core element of its knowledge economy.
Life Sciences represents one of the dominant economic sectors in the UK and is one of the country’s fastest-growing and most productive sectors. In 2017, Life Sciences accounted for 6.7% of the country’s economic output, 40% of commercial R&D activity, employed 350,000 people in more than 4,000 companies and generated more than £20bn in exports.
Ayming Life Sciences
R&D Tax Relief
Driving innovation in the Life Sciences sector
Innovation is the lifeblood of the Life Sciences sector. Still, costs are rising, and it’s harder to recoup on innovation than in other sectors as the window for first-to-market treatments and solutions narrows.
Our R&D tax consultants have experience working throughout the Life Sciences sector, from academia to start-ups & broader industry. Ayming also has a wide range of cross-sector experience, including manufacturing and software development which comprise a large proportion of claim value for many businesses in the Life Sciences sector. Our consultants are best placed to assist Life Sciences companies in making the most of their R&D claims.
From software development to inventory management, from new product development and speculative technical work to product modification, recovering these costs helps to fund continuous innovation and boosts pharmaceutical companies’ competitive advantage.
Learn more about R&D in Life Sciences
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