Medical Trials... official MoneySavingExpert.com discussion

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  • Former_MSE_Andrea
    Former_MSE_Andrea Posts: 9,614 Forumite
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    Hi

    Just a quick note to ask people not to post actual medical trials please. Discussing and linking to companies that run them is sufficient

    Thanks!

    Andrea :)
    Could you do with a Money Makeover?


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  • coolman_2
    coolman_2 Posts: 61 Forumite
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    I value my health way too highly to let some doctor test drug on you, and hardly get paid for this Especialy as only about a year about 6 people nearly died doing this
  • monty77
    monty77 Posts: 59 Forumite
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    monty77 wrote: »
    Considering going for one of these trials at the moment to earn some extra $$$ - how do they pay you for these trials? I'm going to assume anything you earn is taxable so return becomes less attractive but still worth it for a high paying trial.

    Cheers,
    Adam

    So does nobody know for sure whether tax is payable (officially) on the money received for the trials?

    Thanks,
    Adam
  • stphnstevey
    stphnstevey Posts: 3,224 Forumite
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    oneknight wrote: »
    I got paid by cheque a couple of days after the trial finished.

    As far as I know the money is not taxable, they are paying you "expenses" and not a wage. Someone else may correct me on this but I am pretty sure I am right.

    For Phase II and higher trials, only travelling expenses are reimbursed and there is no fee paid to the patient. Therefore as this is simply reimbursement of expenses, it is not taxable.

    With Phase I trials a fee for patient participation is payable. I imagine this would be seen as 'income' by the tax man and thus taxable.

    Whether you declare it is another question.....
  • RichOneday_2
    RichOneday_2 Posts: 4,403 Forumite
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    The following is an extract from one of the company's T&Cs:



    How much will I be paid and when do I receive payment?

    Payment for a study depends on the duration, complexity and inconvenience involved. The amount is specified on the study list and consent document.     Payment is made by cheque within 14 working days of the completion of the study and should be declared to the Inland Revenue, as tax is not deducted at source. Occasionally part payments will be made on longer studies and this will also be indicated on the study list and consent document.



    So definitelytaxable.
    In terms of the studies themselves I would have no hesitation at all. Quite frankly the risks of being on a trial are less than if you were out and about doing normal activities - so you've probably reduced your risks of coming to any harm.

    Most of the drugs under trial are only slight variations on existing drugs and are administered in miniscule quantities. Another bonus is you get an HIV test without it appearing on medical records and messing up insurance premiums. Its nice to to get a clean bill of health!
    There are sometimes the odd side effects as I know only too well. The first trial I did some years back was for an anti-inflammatory drug which, due to the side effects we experienced, is now popularly known as Viagra! Not a lot of people know that it was discovered accidentally in Leeds.
    Gt NW 1/2 Marathon 21/2/2010 (Target=1:22:59) (6:20/mile) 1:22:47 (6:19):j:j
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  • matman15
    matman15 Posts: 19 Forumite
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    hi everyone, i am new to the forum and i have been looking around the web for medical tests in the south west or mainly plymouth but i cant find any! :confused: Does anyone have any ideas or know of anyone in the plymouth area who advertise the tests?
  • stphnstevey
    stphnstevey Posts: 3,224 Forumite
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    matman15 wrote: »
    hi everyone, i am new to the forum and i have been looking around the web for medical tests in the south west or mainly plymouth but i cant find any! :confused: Does anyone have any ideas or know of anyone in the plymouth area who advertise the tests?

    There is a Phase I Unit that does loads of trials up near Derriford - they sometimes advertise on Plymouth Sound. Its on the opposite side of the big roundabout from Derriford hospital (ie left if your coming from town) and then on the right hand side
  • matman15
    matman15 Posts: 19 Forumite
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    thanks for that stphnstevey i will have a check, i dont live far from derriford roundabout so its good that its close, any idea of contact details?
  • matman15
    matman15 Posts: 19 Forumite
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    dont worry about the contact details i have found their website, its http://www.nowvolunteer.co.uk/index.asp if anyone wants it
  • rachel83_2
    rachel83_2 Posts: 134 Forumite
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    i would do it, lets face it medical trials are nesasary for the companys to find cures for things.

    trouble is i dont think they do them round here,
    :rolleyes:september:£22 jackpotjoy,screensaver,£50 thomas cook voucher
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