BusinessCloud reported that a Pulsar Group HMRC petition filed separately against the AIM-listed technology company and its subsidiary ResponseSource has now been resolved, with the group saying it repaid outstanding amounts from normal cash collections.
Pulsar Group disclosed that two winding-up petitions had been filed with the London High Court: one against the parent company on Friday and a second against ResponseSource on Monday, according to court records seen by City AM.
Pulsar Group HMRC Petition Resolved After Cash Repayment
The company said it had paid the outstanding amounts owed to HMRC, with repayments made from normal cash collections, reaching a satisfactory conclusion, according to Morningstar/Alliance News.
Before the settlement announcement, BusinessCloud reported that Pulsar had said it expected to meet its outstanding VAT and PAYE obligations to HMRC in due course.
Pulsar also said its underlying trading position is robust, with a number of recent wins across all regions.
Record Revenue Alongside Tax Dispute
The petitions emerged as Pulsar reported record revenue of £33m for the six months ending 31 May 2026, a 10% increase from £30.1m in the first half of 2025.
The group’s shares traded at 28.00p on Monday afternoon, down almost 10% on the day and nearly 30% over the past year.
A winding-up petition is a legal process initiated against companies that have failed to pay outstanding debts. HMRC uses the mechanism against businesses carrying unpaid tax bills.
ResponseSource: Shrinking Subsidiary
ResponseSource, Pulsar’s digital matchmaking service connecting journalists with PR professionals, was named in the second petition. Its finances have been under pressure.
According to Companies House accounts for the year ending 30 November 2024, ResponseSource’s turnover fell from £3.62m to £3.40m. The average monthly headcount dropped from 20 to 14, and total payroll costs decreased from £1.15m to £745,000.
Access Intelligence, Pulsar’s former name, acquired ResponseSource in October 2018 for £5.5m in cash and shares. At the time, Access Intelligence was the parent company of media monitoring platform Vuelio, and ResponseSource founder Daryl Willcox remained at the combined group as Director of Audience Strategy, according to a ResponseSource press release.
A Business Built Through Acquisition
Pulsar Group, formerly known as Access Intelligence, provides SaaS solutions for the global marketing, public relations and journalism sectors.
The group expanded its platform in January 2022 when Access Intelligence acquired Pulsar Platform, described as an enterprise social intelligence platform, prompting the subsequent rebrand of the parent company. The acquisition was announced on 23 January 2022, according to the Pulsar Platform blog.
Pulsar Group and ResponseSource were contacted for comment.
With the HMRC matter settled and revenue growing at the group level, investors will be watching whether the share price, down nearly 30% over the past year, stabilises as the company demonstrates that the tax dispute was a cashflow timing issue rather than a structural problem.
