The SME businesses behind the tech revolution have to maintain innovative ways to provide products and services. As technology accountants located in ‘silicon fen’ in East Anglia, we understand the specific accounting and tax needs of these businesses.
We have developed a wealth of accounting/tax experience and insights into acting for technology clients, who typically require a mix of our services such as:
- Assisting you to make your book-keeping system Making Tax Digital compliant.
- Preparing your annual statutory accounts and submitting a minimum disclosure filleted set onto the public record at Companies House.
- Submitting your annual business tax returns (CT600 company tax return) to HMRC, including maximising claims for:
- Obtaining EIS/SEIS tax status for outside equity investors.
- Grant claim audits.
- Completion and submission to HMRC of the directors personal self-assessment tax returns.
- Before submitting these tax returns to HMRC, taking out tax investigation insurance to mitigate the potential extra professional fees that would arise if HMRC open a tax enquiry into one of your tax returns. Key risk areas for such an enquiry in this sector:
- R&D tax relief claims,
- VAT refund claims,
- Company eligibility for EIS status.
- Book-keeping, including use of cloud hosted software.
- Cashflow projections, to manage your cash burn rate during start-up and commercialisation phases,
- Company secretarial duties including maintaining your statutory registers and minutes, together with annual Companies House submissions.
- Helping you with your business plan,
- Incentivising and tying in your middle management by issuing them with EMI share options.
- Helping you raise finance to fund product development and taking your product/service to market (including through use of crowd funding),
- Tax efficient remuneration and other tax planning,
- Helping you keep on top of your cash ‘burn’,
- Turnaround advice.
- Bench-marking your turnover growth.
- Valuing your business,
- Business exit planning, perhaps enabling you to consider retiring early,
Whiting’s Technology Group publications
Our Tax Group “A Brief Guide to…” publications:
- Annual Investment Allowance | Enterprise Investment Scheme Relief | Individual Savings Accounts | Making Tax Digital | Off-payroll Working | Patent Box | Pension Death Benefits | Personal Tax Account | Research & Development Tax Relief | Seed Enterprise Investment Scheme | Tax Year End Planning
Get in touch with your local office and speak to one of our specialist technology accountants, to see how we can add value to your business.
We offer a free initial consultation to potential new clients.
In the years that you and your colleagues have acted as my accountants, a professional service has developed into a valued friendship and source of financial advice and guidance. In both service and professional terms, you have really gone the extra mile.