PharmaTelevision - Grant Thornton: Samantha Vanags, Tax Partner on What the UK Budget Means for Companies

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Video title: Grant Thornton: Samantha Vanags, Tax Partner on What the UK Budget Means for Companies

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In this episode of PharmaTelevision News Review, Fintan Walton talks with Samantha Vanags, Tax Partner at Grant Thornton. Filmed at the PharmaTelevision studios in Oxford, UK, they discuss:

• The impact of the tax changes following the recent UK budget

• Good news in the corporate tax arena with reduction in the headline rate

• Increase in rate of Capital Gains Tax and the implications of that

• Changes to National Insurance and how companies can work round these

• R&D Tax Credits, Consultation likely to be based around the James Dyson Report and what the implications may be

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

The impact of the tax changes following the recent UK budget

Fintan Walton:

Hello and welcome to PharmaTelevision News Review here in Oxford. On this show I have Samantha Vanags, who is a Tax Partner at Grant Thornton, welcome to the show.

Samantha Vanags:

Thank you.

Fintan Walton:

Samantha Vanags, obviously you are a Tax Partner here in the UK the government has changed, we just had a general election, we've now got the conservatives and lib dems in power. Just after they came in they put a new budget forward and then that budget obviously has changes in the tax, way taxes occur in this country. Obviously our audience are pharmaceutical and biotechnology companies, some of those are manufacturing, some of those research and development operations here in the UK, what's the impact of the tax changes and let's start let's say for an example with corporate tax or corporation tax?

Samantha Vanags:

Okay, so in the corporate tax arena the budget was generally good news, we were expecting a reduction in the headline rate of corporate tax in the UK so currently companies pay 28% tax, we were expecting it to go down to 25 in fact it went down to 24, however it went down overtime so there will be a 1% deduction each year over the next four-years until we reach a rate of 24%.

Fintan Walton:

And that 24% puts us where in terms of G8 and G10 and so forth?

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Fintan Walton

Dr Fintan Walton is the Founder and CEO of PharmaVentures . After completing his doctoral research on the genetics of cell proliferation at the University of Michigan(US)and Trinity College (Dublin, Ireland), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc (1982-1992).

Samantha Vanags

Tax Partner

Samantha Vanags leads the firm's team of R&D tax specialists and is a tax partner in the Oxford office. Samantha Vanags primarily provides advice on corporate transactions and on R&D tax relief. She has clients across a range of sectors. She joined Grant Thornton in May 2000. Previously she worked with one of the big four in London. Samantha Vanags 's expertise covers Research and development tax credits, Research and development tax relief, Tax acquisitions and disposals and Tax due diligence. Samantha Vanags 's Qualifications include ACA-ICAEW, BA and CTA.

PharmaVentures

PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.

Grant Thornton>

Grant Thornton: A leading financial and business adviser Grant Thornton UK LLP has offices in 30 locations nationwide and more than 25,000 individual and 15,000 corporate and institutional clients and is a member firm within Grant Thornton International, one of the world's leading international organizations of independently owned and managed accounting and consulting firms. Clients of member and correspondent firms can access the knowledge and experience of more than 2400 partners in over 100 countries and consistently receive a distinctive, high quality and personalized service wherever they choose to do business.