Support for Life Sciences in UK Spring Budget 2023

The UK’s Spring Budget, announced on 15 March 2023, set out the government’s plans to help businesses, including the life sciences sector. In addition to an enhanced rate of tax relief for loss-making R&D-focused small and medium sized enterprises, companies investing in qualifying main rate plant and machinery can write off the full cost from 1 April 2023 until 31 March 2026 under a 100% First Year Allowance. Read the full Spring Budget.