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Clinical Trials Taxable?
Dani21
Posts: 1 Newbie
in Cutting tax
Hi,
I'm in full-time employment and thinking of taking part in clinical trials. For each trial that I participate in, I will receive compensation for my time and inconvenience. Would this be taxable? I've read mixed articles with some saying it's non-profit volunteering and just covering expenses and others saying it's the same as a second income... =/
And sorry if this is in the wrong place, I wasn't sure where to post it!
I'm in full-time employment and thinking of taking part in clinical trials. For each trial that I participate in, I will receive compensation for my time and inconvenience. Would this be taxable? I've read mixed articles with some saying it's non-profit volunteering and just covering expenses and others saying it's the same as a second income... =/
And sorry if this is in the wrong place, I wasn't sure where to post it!
0
Comments
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When I used to do them (10-12 years ago) the 'inconvenience allowance' certainly wasn't taxable. I don't know if this is still the case...0
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Fully covered here :-
http://www.hmrc.gov.uk/manuals/eimanual/EIM71105.htm
The last 3 paras are particularly relevant if you have no other association with the group conducting the trials.If you want to test the depth of the water .........don't use both feet !0
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