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Please contact us to discuss how working with Myriad Associates can maximise and secure R&D funding opportunities for your business.
If your company is in the pharmaceutical industry and you've recently introduced a new drug or developed a new piece of technology then there is a strong chance that you could benefit from an R&D Tax Credit claim.
Although similar to other industries, the types of pharmaceutical activities considered R&D
R&D in the pharmaceutical industry typically takes place in four stages:
This phase is concerned with the identification of promising new chemical entities.
Pre-clinical trials are concerned with the non-human testing of compounds. Compounds that are identified as promising at the pre-clinical trial stage move into clinical trials.
Clinical trials go through three phases, they could generally be described as toxicity tests (phase 1), preliminary efficacy tests (phase 2) and comparative efficacy and tolerability tests (phase 3). Work in these first 3 stages will likely be considered R&D. This will likely include work on applying to and responding to the regulator, and work on doing further testing as requested by the regulator. Most of the work involved in making an application to the regulator would involve work that directly contributes to the resolution of technological uncertainty and would therefore qualify as R&D.
The post-launch phase occurs when a product has been licensed. Thus this phase involves post-marketing confirmatory studies, special interest studies, longer-term efficacy, tolerability etc. Work in this phase would generally not be considered R&D unless the work involved a scientific or technologically advanced uncertainty.
It seems to be the case that the research activities of discovery, pre-clinical development and Phase 1-3 trials will usually be concerned with the resolution of scientific and technological uncertainty, but that phase 4 (post-launch trials) will not. Our experience has shown that this is generally an appropriate starting point for
By profiting from our specialist knowledge and experience, you can be sure of maximising your R&D tax relief claim. As a rule, Myriad Associates submit R&D tax relief claims that are up to three times higher than in-house prepared claims or those filed by generalist accountants.
We identify all your R&D activities
We capture all your R&D expenditure
We write your R&D technical reports
We submit your R&D Tax Relief claim
We work with HMRC to agree your R&D claim
With just two to three hours of your time we'll take care of your claim from start to finish
At Myriad Associates, we've had the opportunity to provide R&D Tax Credit claim services for some of the UK's most innovative pharmaceutical companies.
Cleaver Scientific is a UK based electrophoresis equipment supplier who
It was clear that Myriad Associates were not just very knowledgable about the R&D Tax Relief Scheme, they also made it their business to understand our technology, process and business costs model.Adie Cleaver, Managing Director, Cleaver Scientific Limited
This R&D tax credits calculator estimates the amount of corporation tax savings you may be entitled to by making a claim for R&D tax relief.