INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of loss before Income Tax, Domestic and Foreign

For the years ended March 31, 2021 and 2020 loss before income tax benefit arose in the UK and U.S. as follows:

	March 31,
	2021			2020
		$			$
Loss before income taxes arising in UK		(5,030,204	)		(2,470,107	)
Loss before income taxes arising in U.S.		(1,564,224	)		(2,304,451	)
Total loss before income tax benefit		(6,594,428	)		(4,774,558	)

Reconciliation of effective tax rate

Reconciliation of our effective tax rate to the loss calculated at the statutory U.S. federal tax rate is as follows:

	March 31,
	2021					2020
		$					$
Loss before income taxes		(6,594,428	)				(4,774,558	)
Expected tax benefit		(1,384,830	)	(21	%)		(1,003,000	)	(21	%)
Foreign tax differential		100,604		2	%		—		0	%
Enhanced research and development		(259,861	)	(4	%)		(231,000	)	(5	%)
Other		20,226		—			125,000		2	%
Change in rate allowance		—		—			119,000		2	%
Change in valuation allowance		1,523,861		23	%		990,000		21	%
R&D credit received		335,832		5	%		614,362		13	%
Actual income tax benefit		335,832		5	%		614,362		13	%

Schedule of deferred income tax assets

The tax effects of the temporary differences that give rise to significant portions of deferred income tax assets are presented below:

	March 31,
	2021			2020
		$			$
Net operating tax loss carried forward		5,204,000			3,926,000
Research and development enhancement		1,057,000			797,000
Other items		(333,000	)		(319,000	)
Valuation allowance		(5,928,000	)		(4,404,000	)
Net deferred tax assets		—			—