We started working with Cooper Parry in 2022, when we were looking for an auditor to go through our first-ever financial audit. The CP team convinced us with their positive approach and their willingness to help. Together we went through our first-ever audit, which was far from simple. We used to offer credit cards with embedded instalment loans, which were funded through a complicated securitisation structure. Like any startup, we suffered the usual problems associated with the beginnings of a company which grew faster than anyone expected. The audit performed by CP showed all the weaknesses of our young financial reporting structure and we were able to improve our processes and procedures thanks to that.
Thanks to the good experience of the financial audit with Cooper Parry, we decided to request CP be our main Corporate Income Tax and Value Added Tax advisors. The tax advisory team helped us find answers for many challenging questions. We were going to launch credit cards, where customers would benefit with loyalty points exchangeable for airmiles, gadgets, hotel nights and numerous services provided across the world, where the VAT treatment was far from clear. Together we managed to arrange the intercompany cost structure to manage our tax burden, while ensuring tax compliance in all the jurisdictions where our technology team are based and where our revenues are generated.
Cooper Parry helped us claim Research & Development funding in the UK and thanks to their assistance, we secured additional funding which helped the company through difficult times.
The Cooper Parry team are always willing to help. It seems that no matter what level of complication we come up with, there will be specialists who will happily engage in looking for answers and solutions. The positive approach is the key to solving most of the problems. I often have the feeling that when I stumble on a problem which keeps getting worse the longer I look at it, Cooper Parry team will quickly find a solution which will be far easier than anything we in Tymit thought about. It is nice to know that we can always ask Cooper Parry for help in any financial, accounting, reporting and tax issues.
Piotr Wolinski – Head of Finance
ABOUT TYMIT
Tymit is a provider of buy-now-pay-later technology platform that supports loyalty programmes for retailers wishing to enhance their customer experience. Having secured a strategic investment from Frasers Group, Tymit supports one of the fastest growing BNPL programmes in the UK, which is being expanded into multiple retail networks. They have built a unique, state-of-the-art, technology platform and they keep developing it to meet growing customer expectations. Tymit are proud of their exceptional quality technology team, who build bespoke solutions for the benefit of their clients.
