Clinical trials data management company receives £71k R&D tax repayment

The Problem

A new client made contact with us as they were unhappy with the results being achieved from their existing accountants. As a software company who recruits patients for clinical trials, they handle vast amounts of highly sensitive information between GP’s, hospitals and patients. We took over the management of their accounts to ensure seamless adhesion to all compliance and advisory work. Our accounting team referred the client to their tax department, whose experience indicated that in such situations a tax investigation should be made for the benefit of the client.

The Solution

Working with the directors and every member of the client’s finance team, we were able to understand their financial situation fully. Our knowledge on the legislation of handling sensitive data was extremely helpful in these circumstances. Both of these factors enabled us to identify that the client invested heavily into qualifying R&D projects and we were able to identify how much was spent on it. The software that the client created, maintained and continuously improved was unparalleled, and essential, in the medical and pharmaceutical world.

Our own accounts team worked closely with the client’s finance team and we were able to submit to HMRC details on their investment into research and development, plus associated qualifying expenditure. The claim was accepted by HMRC and resulted in a tax saving of £71k over two years.

This repayment was achieved for our client due to the detailed knowledge we have of tax legislation, combined with the importance we place on understanding our client’s industry.

The Director of the clinical trials data management company said:

“We are still in shock with how easily you’ve been able to fix past problems. We’ve moved from a deficit position with low credit rating to being in the black again AND submitting a tax repayment claim of £11k in year one and £60k in year two. This is testament to your expertise. It may seem very routine to you both, but your advice has returned strength to our company. Thank you.”

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