Tax planning

Running a technology business is time consuming and it can be difficult to plan ahead whilst keeping your tax position in mind. The industry moves at pace so there are always multiple pressure points that mean tax can be overlooked in a transaction. 

We have years of experience in the field and we understand the personal and company tax implications of your business decisions. For example, you might be looking to hire some developers overseas because the labour rate is more affordable – however, unless you structure this correctly you could end up paying more taxes than you bargained for. 

At Tech Relief we offer tax consultancy services for individuals and businesses and our attitude is to work closely with you to make sure any decisions you make now don't result in any unforeseen outcomes in the future. We can model the options available to you so that you make the correct decisions. Where we are engaged to provide compliance services to you, we won’t charge you for suggesting ways to operate more efficiently, so you never need to worry about getting in touch with us. By keeping in regular contact we can identify opportunities before it is too late and when it comes to end of year compliance, we already have all the information we need.

Identify tax savings with our tax planning services

We prefer to keep things simple, so if you work with us expect to find some easy wins and solutions that are simple to implement. For example, if we think you are eligible for R&D tax relief, we will have a conversation with you straight away and model what the outcome is for you before proceeding with a full claim – this allows you to see the true cost of making a claim. If we are providing compliance services to your company this assessment comes without an additional cost.

We will never suggest an aggressive or convoluted scheme that goes against the spirit of the tax legislation (and that will likely lead to unwanted attention from tax authorities!) So you can be assured you remain on the right side of the law. 

Our approach to personal tax planning and business tax advice

At Tech Relief we get to know you and your technology business and advise on where there are opportunities for tax savings so that our business tax advice is tailored specifically with you in mind. Where we handle your tax compliance obligations it is easier and more efficient for us to identify planning opportunities but even if we don't then we can work alongside you to create tax efficient solutions for you. Our business was founded by a Chartered Accountant with years of experience in the Tech sector, which gives us a unique position and means we only offer solutions that are viable to your situation.  

Tax consultancy services

Here are some of the services that we offer:

• Structuring - we can advise on the most efficient structure for your technology business. We will present you with the pros and cons of the options available so that you can make an informed decision.
• R&D tax relief - certain businesses are able for research and development tax relief. This is a government incentive for certain sectors that are seen as a key component for improving the UK's productivity and competitiveness. The scheme works by increasing the tax deductions available to eligible businesses and can result in cash back where a company is loss making. We can support you through the process by assessing your eligibility and submitting your claim. 
• Capital allowances -  running a technology business is costly and often requires significant investment. We can help you reduce your tax liability by making the appropriate claims for all your capital expenditure. 
• Tax efficient benefits - we can help you understand what tax efficient benefits are available to you and your business. 
• Overseas tax relief – where you are eligible to make a tax claim outside of the UK, for example if you are developing technology outside of the UK, we can assess your eligibility for tax relief and help you understand how to make a claim.
• Video games tax relief – video game creators can reduce the tax they need to pay/apply for a tax refund if the development meets certain tests. We can help you by evaluating your entitlement and submitting your claim to HMRC. 
• Animation tax relief – if your business is involved in creating an animation you can reduce the tax you need to pay/apply for a tax refund if the animation meets certain conditions. We can evaluate your entitlement to claim and submit your tax relief claim to HMRC.

Why appoint tax advisers?

There are thousands of pages of tax legislation in the UK alone. Whilst there are many simple aspects that you could tackle alone, it is often more efficient to work with a professional who is familiar with the detail and can save you time trying to find solutions that may not work for you. 

For a free consultation with a tax planning consultant call us today on 07586 955861 or send us an online enquiry so that we can help you understand how to optimise the value that you have created in your business.