As a result of the devastating and far-reaching impact of COVID-19, the entire nation finds itself in turbulent and challenging times.
In order to contribute to the national effort to reduce the impact this pandemic is having, MMP is offering its R&D tax services free of charge to any medical technology firm that is founded and operated by part-time NHS staff.
MMP wants to make sure these critical staff are free to serve the NHS when it needs them most, instead of being tied-down in bureaucracy and tax claims. R&D tax incentives, which reimburse firms up to 33% of the amount they have spent on R&D, are particularly crucial in a time like this when many businesses are facing cash flow issues. Understanding how to claim this tax relief is not straightforward, and can be a time- and labour-intensive process, not to mention the risk of having a claim denied when businesses may need the money most.
Therefore, MMP wants to do what it can to enable critical medical personnel to direct their time and efforts towards the NHS
“The NHS is being hammered at the moment and MMP wants to help maximise the time doctors and nurses can spend fighting COVID-19. Therefore, MMP is happy to provide its services free of charge without obligation.” - David Marshall, Director of MMP
Bringing our expertise
MMP will help affected firms determine which tax incentives and reliefs they qualify for, review and analyse their eligible costs and activities, and compile this into a detailed report to be submitted to HMRC on the firm’s behalf.
Take Pando for example, a London-based firm that has created an app that revolutionised how medical professionals communicate with each other, it was founded by Philip Mundy, Dr Lydia Yarlott who is an active NHS paediatrician and former junior doctor Barney Gilbert.
MMP can assist companies like this who are engaging in R&D to improve their services, by ensuring that the medical professionals leading them are free to allocate their time to the NHS instead of applying for tax incentives.
MMP vows to provide this service free of charge, to do their part in making the lives of medical professionals easier, as they continue to work tirelessly in service of the British public.
If you’d like to know more information about this initiative, please get in touch or to speak directly and confidentially to a consultant, call us.
David is one of the founding Directors of MMP Tax.
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