Technology

Sectors

Our team can provide support across the key areas of the practice such as audit, tax, business startup, payroll and VAT

However, specifically for businesses involved in developing innovative technological processes or applications, we offer specialist advice on:

– Raising finance, including venture capital, business angels and crowd funding

Venture Capital, and Angel funding brings, speed, access to experience, personal involvement, cash and independence.

For crowd funding, involving multiple shareholders, there is usually a number of key documents to prepare and file at Companies House.

We can advise on investment funds offering tax reliefs to individual investors via shares under conditions such as Seed Enterprise Investment Scheme (SEIS), aimed at early stage companies and Enterprise Investment Scheme (EIS), aimed at medium sixed companies. We can help with advance assurance, compliance statements and eligibility advice.

– Preparing financial forecasts
Whether its cashflow forecasting, budgets or forecasts, a business will often require these tools to facilitate planning and drive business success. Cashflows are often required for loan or investment applications to support. Budgets and forecasts are required to ensure the business is on track, monitoring results and allowing quick reaction to changes in business conditions.

– Business Structures
We advise on business structures, including joint ventures, licensing, and group structuring.

We also have experience in setting up employee ownership trusts (EOTs) which owns all or most of the shares in the company, on behalf of the employees. We can help with the valuation of the company and help prepare and file the necessary shareholder documents.

– Working with Innovate UK

Innovate UK is the UK’s national innovation agency. It is a public body funded by grant aid from the UK Government. Innovate UK supports business-led innovation in all sectors in the UK to help them develop their ideas by issuing grants to support with the costs.
Grants require an independent accountants report who must be a registered auditor listed at the audit register.
We are able to complete the review and check works required for the report and provide the completed report for submission to Innovate.

– Research and Development (R&D)

R&D Tax Credits are a Government incentive in place for companies operating in the UK to encourage investment in innovation and promote advancements in science or technology. These credits can be recovered as relief on your Corporation Tax payments or as a cash payment, with SME’s able to claim up to 33p for every £1 spent on qualifying R&D activities and large companies up to 11p for every £1 spent.
We can assist with the process and help you to understand the governing legislation. We can help in the preparation of the report and claim calculations and manage the submission to HMRC, via the company tax

– Patents Box

The Patent Box is designed to encourage companies to keep and commercialise intellectual property in the UK. It allows companies to apply a lower rate of Corporation Tax to profits earned from its patented inventions. Companies must elect into the Patent Box to apply the lower rate of Corporation Tax which is 10%. This relief was introduced in phases from 2013 up until 2017. We can facilitate calculation of the patented profits for inclusion into your corporation tax return and preparation of patent box report for attachment.

We can assist you by:

Raising finance
Financial forecasts
Business structures

Innovate UK
R&D
Patents Box

Our technology experts

If you operate within this sector then please call us to discuss how we can help you as you move up the growth curve

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Dean Wright

Director

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18th Aug 2023 / Insights / Technology

Additional information required for Research & Development (R&D) claims

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Experts you can trust

We advise businesses and private individuals on a full range of services. Where we do not have the necessary experience or expertise, we will know someone who has. We have established a strong network of other professional advisers to whom to entrust our clients.