R&D Tax Credits for the Pharmaceutical Sector
To stay on the leading edge, all pharmaceutical companies must innovate and develop new products. But this can come at an expense for the company’s bottom line. Whether it’s new chemical formulations or improved manufacturing techniques, these investments don’t always yield full return on their own. Ayming USA’s team of business tax experts, are here to increase access to tax credits related to R&D processes healthcare and pharmaceutical consistently undertake.
Each of the various phases of the development processes associated with new, improved and generic drug products involve significant time and expenses that qualify toward tax credits, meaning that any pharmaceutical company can take advantage of the R&D tax credits to reinvest in their business. These activities and expenses can be derived from many categories of qualified R&D activities that fall within the broad scope provided by the R&D Tax Credit framework.
Does your business operate in the Pharmaceutical or Healthcare industry?
Transformation and technological development are daily challenges for companies in the pharmaceutical sector. However, resolving many of these technical challenges often qualifies as research and development from a tax perspective and you’re more than likely to be eligible for generous tax relief. Ayming USA’s R&D tax consultants help pharma and healthcare companies get more out of their R&D activities and unearth cash flow offered by this under-utilized tax credit.
What counts as R&D in the Pharma sector?
Below is a list of just some of the qualifying R&D activities for the pharmaceutical sector:
- Development and testing of new or improved products, formulas, and compounds
- Support and supervision roles in laboratory or testing processes
- New or improved product trials, including manufacturing methodologies and packaging
- And many more…
Our tax specialists can help you make a successful R&D tax credit claim
Ayming USA has the expertise to review the time tracking, contractual agreements, and other industry-specific documentation to deliver accurate results.
Our industry-specific consultants have hands-on experience and knowledge of the Pharmaceutical sector. We always take the time to truly understand how your company innovates so that we can expertly identify all qualifying expenditures to help you make a successful claim for R&D tax credits.
Download your free factsheet
We’ve put together a handy, streamlined summary of research and development in the Pharmaceutical industry. Simply fill in your details to download your free factsheet and learn more about building your business with R&D tax incentives.
