Case Study: MDM Props protects up to £240K in quarterly VAT reclaims with Payhawk
Key results
The challenge
MDM Props, an arts and events fabrication business, lost VAT reclaims when receipts went missing, with quarterly VAT bills of up to £240K at stake. Chasing receipts took about 1.5 weeks during month-end, and payments took two to three days to appear in the old system.
The solution
The company moved to Payhawk so cardholders upload receipts in seconds at the point of spend, giving real-time visibility and accurate receipt reconciliation, and shifting card fees from per-transaction to fixed monthly pricing.
“Before Payhawk, missing receipts meant missing VAT reclaims. With quarterly VAT bills of up to £240K, that's massive. Now with Payhawk, our cardholders upload receipts in seconds and save the business thousands.”
UUchennaFinance Manager, MDM Props
The results, in context
Accurate receipt reconciliation protected up to £240K in quarterly VAT reclaims that had previously been at risk from missing receipts. The finance team also saved 32 hours of manual admin per week, equal to four working days.