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Tech savvy
Key points
- Tech clients increasingly seek tax practitioners with sector-specific expertise.
- The UK government encourages growth in the tech sector with extensive tax reliefs and incentives.
- To make the most of the reliefs and incentives a tax plan needs to be created as soon as possible after the business is set up.
- To apply for R&D tax relief the business must comply with conditions including meeting a strict definition of what constitutes qualifying activity.
Tech clients place an increasing value on working with a tax adviser who has sector specific expertise: one that is able to identify any issues relevant to the tech sector and who can clearly explain those relevancies in layman’s terms to the client. However founders of tech businesses are generally also quite savvy and they often have conducted most of the foundation work themselves – such as registering the company applications for seed enterprise...
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