Specialist accountants for IT can take the stress away when dealing with your accounts, finances and taxes. They also make sure you keep more of what you earn, so you can grow your technology business.
We are specialist accountants and help IT, technology and digital companies save tax with expert services and strategic advice. From identifying R&D Tax Credits to boost your profit margin, to supporting you with online software systems, it is important to have an experienced team behind you.
Welcome to Audtax, Specialist Accountant For Technology & IT Companies
At AudTax, we support businesses within the technology sector. We fulfil the role of a traditional accountant, such as bookkeeping, payroll and preparing financial statements such as annual accounts, but we also provide valuable tax advice to make businesses more profitable.
When you run your own business, you naturally want to keep as much of your profit as possible. AudTax can help reduce your tax liabilities and also assist with tax credit claims, personal tax planning and Corporation Tax advice.
At AudTax, we understand the tech sector
You need an accountancy firm that knows the challenges faced by tech businesses and the potential pressure points. At AudTax, we have a great deal of knowledge and experience in the tech sector and can provide relevant, quality advice. We operate a sector focused approach that is bespoke to you with great service that you can trust.
Whether you have a new business or are more established, have a small company or a large enterprise, then we can help. In our accountancy firm, our team have the knowledge and knowhow to cover a wide range of technology businesses. Whatever your specialism, our team has the expertise to meet your needs.
What tax relief can a technology company claim?
There are tax incentives, tax reliefs, debt funding and Government support for IT and tech firms, but it very much depends on the company’s financial position and activities. Our team have the knowledge and experience to guide you so that you can make the maximum possible claim that you are entitled to. We can also help you with tax and VAT planning. own business
Research and Development tax relief for the tech sector
Research and development is at the heart of the tech sector. If your tech business has undertaken any sort of R&D, you may be eligible to receive R&D tax relief on a portion of your costs. This applies to any company, including start-ups, small businesses and limited companies.
Many technology companies are simply not aware of what they can claim and miss out on this valuable cash refund that could be invested back into the company. AudTax can help you identify eligible R&D activities and claim what you are entitled to.
Help with IR35
Many technology companies use contractors to complete different aspects of the work at various times. It is now the responsibility of large and medium sized private businesses to determine the IR35 status of these contractors. Basically, you have to decide whether they should be treated as an employee of your business or not.
Making the right decisions around IR35 is important to avoid investigation by HMRC. The onus is on you as a business and if the wrong decision is made, there may well be penalties. We can support you to make decisions with business confidence.
Product relief with Patent Box
Tech businesses often protect their intellectual property with a patent. But did you know you can apply for product relief on the profit from those patents to reduce your tax liability?
This kind of tax credit could have a big impact on your small business. As your accountancy firm we will ensure that you receive all the tax reliefs that are available to your business, so you don’t miss out.
Share options for employees
Great employees can feel hard to come by in any type of organisation. Yet it is quite likely that at some point you have had one (or more) who has been tempted by another company offering additional money or status in the tech world.
You might not have a huge amount of cash reserves to devote to keeping those great employees. Therefore you may want to consider share options for your employees. These are private shares that could be cashed in at a later date, perhaps during an acquisition or a merger.
It is simply a sweetener to give those top employees a part of something you are all working hard for and encouraging them to stay. It is also a tax bonus for them as well. We can help you decide whether this is a good option for your organisation and can help to make the arrangements if you do.
Types of technology companies we work with
We work with a wide range of technology companies, from those involved with software development to IT consultancies. Others include data specialists, industry experts (such as the smartphone industry), hardware manufacturers and computer maintenance firms.
Those in the tech sector encompass a really wide range of industries. Our strength is in supporting the financial operations of all of these tech companies and giving each individual business high quality support.
AudTax accounting services for IT, technology & digital companies
If you are looking for a reliable and knowledgeable accountant for your technology company, then AudTax could be your ideal partner. If you are looking to switch accountants, we can help make the transition to AudTax stress free.
We make a great effort to understand our clients’ particular specialisms and needs, then tailor our services accordingly.
Frequently Asked Questions
Can I set up a tech company and start trading later?
Yes, you can set register your company’s name, domain and other details and start trading at a later date.
Can I hire contractors for my tech business?
Yes, you can hire contractors and/or freelancers to get your work done, in addition or instead of employees. You just have to make sure that the contractor or freelancer does not fall in to IR35.
Can I trade as a sole trader and set up limited company later?
Yes, you can trade as a sole trader at the start and then set up limited company later. We can guide you through the benefits of transitioning to a limited company and help you register with Companies House.
Do I need to register for VAT?
You can register for VAT from the very start or you can wait until you reach the VAT registration threshold and then register after that.