Technology
Whether you’re a bootstrapped startup or an established tech business, our tech experts are on-hand to support you.
Technology
As specialist technology accountants we have a real understanding of the technology sector, our specialist knowledge and experience within the technology sector enables us to help technology businesses prosper. Technology is one of the UK’s most important sectors, it’s constantly innovating year-on-year and changes the way we work and live our lives. That’s why we’re passionate about working with companies in the technology sector.
At The Smart Accountants, we’re specialist technology accountants that are experts in helping high growth technology companies. From bootstrapped start-ups to established businesses looking to exit and everything in between, we can support you along the journey as your specialist technology accounting partner.
Often, tech businesses will start with just an idea, but it can take a long time before that idea develops into a product that can attract a user base and generate revenue. This can become especially difficult when the startup is bootstrapped and has the added challenge of raising external funds to provide a cash runway to take the business to the point of delivering their MVP.
However, we’re experienced with supporting tech startups and understand the common hurdles that they face, which goes well beyond just filing their annual accounts. That’s why we don’t want you to see us just as your accountants, we want you to see us as an extension of your business and trusted partners that you can lean on to ask questions and get advice from.
We can support you at the very earliest stage with incorporating your company, registering you for the relevant taxes and completing your shareholder agreement. We’re cloud-accounting experts so we can implement technology that will help you run your company, from bookkeeping and receipt scanning to automating credit control. You can rely on us to give you a personal service that provides solid foundations to establish your start up and help you grow.
Just some of the areas we can support with include:
- Removing administrative burden – if your company is scaling, you don’t want admin and inefficient processes to be holding you back. That’s why you can outsource areas of your finance function like bookkeeping and payroll to our outsourcing team who will take care of this for you all under one roof. As you grow, we simply scale with you.
- Providing clear management information – Stakeholders will need clear management information to be able to make informed and data-led decisions that allow for further growth. That’s why we can provide useful and timely management information such as cash flow forecasts and management accounts, so you always know how your company is performing and what your runway looks like.
- Making your company attractive to investors – We can support with EIS or SEIS applications that would provide tax relief to potential investors into your company, making it far more attractive in any raises you have planned.
- Getting you tax relief to help add fuel to your runway – Tech companies by nature are innovative and many of this innovation allows them to claim tax relief on their research & development expenditure. We work with R&D experts Easy R&D to help claim back this tax relief for you.
If you’re looking for an accountant to support you whilst you grow, get in touch.
We can support established tech companies with areas such as the below:
- Audit and assurance reviews
- Business valuations
- Finance transformations or outsourced CFO services
- Board reporting
- Management buy outs
- Employee ownership trusts
- Long term incentive plans such as Employee Management Incentive (EMI) schemes
- International expansion
- Exit planning
If you feel you’ve outgrown your current accountant, switching to us is easy.
The Tech Journey
Working in conjunction with a solicitor, we can support you with preparing a shareholders agreement
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We’ll be on hand to support you with operating tax efficiently
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Setting up your business with cloud-accounting software and apps
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Your first official raise to help get your company off the ground quicker
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Cap table
We can support with providing clarity on what shareholders own what shares through your cap table
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We can help with ensuring your company is attractive to potential investors
Read more…
With our Research & Development partner, we can help tech companies with R&D claims that provide valuable cash back from HMRC
Read more…
We can ensure you understand key metrics for tech companies like your burn rate & cash runway
Read more…
We’ll advise on the most appropriate schemes to retain and motivate your key staff
Read more…
Founders, investors and the board will start to require regular management information in the form of board reports
Read more…
We can help tech companies with an outsourced finance function and CFO to provide valuable analysis, insight & planning
Read more…
The next landmark raise to help you scale
Read more…
A review of financial statements to add credibility to your company and/or to comply with legal requirements
Read more…
An additional raise to help your take your tech business to the next level
Read more…
With our international network, we can help if you have ambitions to expand overseas
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Once you’ve made your exit, we can still help you with planning for your personal future
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Whether it’s an IPO or an M&A, an exit allows founders a way to sell their shares in the company they built from scratch
Many tech companies will have an exit in mind early on in their journey, if this is the case, it’s key to start planning ahead
Read more…
The Tech Journey
Working in conjunction with a solicitor, we can support you with preparing a shareholders agreement
Read more…
We’ll be on hand to support you with operating tax efficiently
Read more…
Setting up your business with cloud-accounting software and apps
Read more…
SEIS/EIS application
We can help with ensuring your company is attractive to potential investors
Read more…
Cap table
We can support with providing clarity on what shareholders own what shares through your cap table
Read more…
Your first official raise to help get your company off the ground quicker
Read more…
With our Research & Development partner, we can help tech companies with R&D claims that provide valuable cash back from HMRC
Read more…
We can ensure you understand key metrics for tech companies like your burn rate & cash runway
Read more…
We’ll advise on the most appropriate schemes to retain and motivate your key staff
Read more…
The next landmark raise to help you scale
Read more…
We can help tech companies with an outsourced finance function and CFO to provide valuable analysis, insight & planning
Read more…
Founders, investors and the board will start to require regular management information in the form of board reports
Read more…
A review of financial statements to add credibility to your company and/or to comply with legal requirements
Read more…
An additional raise to help your take your tech business to the next level
Read more…
With our international network, we can help if you have ambitions to expand overseas
Read more…
Many tech companies will have an exit in mind early on in their journey, if this is the case, it’s key to start planning ahead
Read more…
Whether it’s an IPO or an M&A, an exit allows founders a way to sell their shares in the company they built from scratch
Once you’ve made your exit, we can still help you with planning for your personal future
Read more…
Our Services
Testimonials
“We’ve always found the team to be responsive, helpful, and proactive in suggesting ways for us to improve our processes.
In particular, we have been happy with the move from Sage to Xero, which has made our lives much easier as we scale the company.”
“The Smart Accountants has looked after our statutory books for the past 5 years and has always been proactive and extremely responsive to our needs. We are a VC backed startup so things are constantly changing and fundraising is regular. The fees are sensible and the team are always on hand if we need a nudge in the right direction. Highly recommend.”
“The open, friendly and genuinely interested approach of all staff was highly motivating for the business founders, who subsequently raised just over £1m in their seed round.
They have been supporting us through all stages of the start-up journey and we are excited to see what the future holds.”
Deeptech companies are focused on using advanced technologies like artificial intelligence, machine learning, biotechnology, virtual reality, blockchain, robotics, and more to disrupt or transform industries. Naturally, this makes deeptech an exciting and rapidly-evolving space, with the potential to drive signification innovation and change over the coming years.
While we may not have in-depth technical expertise in the aforementioned technologies, we are certainly experts in our fields and can provide support to deeptech companies in a variety of ways. This includes helping with basic annual compliance and R&D claims, as well as getting businesses investor-ready and assisting with due diligence and much, much more. Through a combination of our Tech & High Growth teams, internal specialists and external partners, we’ll be on hand to support you in achieving your business goals and vision, whatever they may be.
We have experience working with both Edtech & SaaS companies, so we can offer a level of support dependent on what stage your business is at. Whether you’re an early stage startup looking to offer a Freemium model to build a customer base or an established company focusing on user retention. We can take care of your basic compliance needs or we can offer a fully outsourced finance function and other value-add services dependent on your requirements. Just as you look to unlock potential with your users, we’ll look to unlock the potential of your business.
Our experience in e-commerce allows us to use and advise you on cloud-accounting software, integrations and outsourcing options that allow you to operate efficiently and scale up. We’re able to provide timely management information that keeps you informed on your business performance and we can use our expertise to highlight financial KPI’s that are pertinent for e-commerce businesses such as your average order value. We’re always just a phone call away should you need to speak to us.
To read more about our retail specialism, click here.
Whether this is the compliance work of preparing your annual accounts, the day-to-day work of bookkeeping and payroll or value add work such as claiming R&D relief or retaining key staff through share incentive schemes, we’re here to help our fintech clients grow their business.
If you’re a start up or growing foodtech business, we have the experience and expertise to support your business as it grows. We understand the sector and can provide a range of accountancy services to help you navigate it, from the essential compliance services to outsourcing and value-add services, we can help you flourish.
We have experience in working with start-ups in the Insurtech space and have supported them along their journey. Where our insurtech clients utilise technology and changing consumer trends, we ensure they also utilise other opportunities like tax planning, R&D claims and share incentive schemes as well as taking care of all the compliance work. Regardless of how far along you are, get in touch to discuss your business objectives and we can talk about how we can support you.
As well as working with traditional solicitors and law firms, our tech teams can also support tech companies working within this space, giving us a solid understanding of how companies in the sectors operate. We’ll take time to understand your business and advise on the services that we can provide to support you.
For modern businesses, their IT infrastructure and processes provide the backbone for their business operations, so working with the right partner for managed IT services can be crucial. However, the services for IT companies today can be very broad. Traditionally, core services may have included IT helpdesks, telecoms and more, but today’s IT companies could be offering supplementary or alternative core services such as digital transformation, bespoke software development and much, much more.
At The Smart Accountants, we have plenty of experience working with managed IT companies, from board experience through to supporting with exit planning and transactions. We can help you with automating your finance function and removing manual data entry. We can help with setting up management reporting that tracks bespoke KPIs and metrics to help you understand how each business function or contract is performing (see our guide here). We can help you retain key staff through share incentive plans. Ultimately, we can help in every aspect of accountancy and tax, but we also act as a key advisory partner to help your IT company reach its goals and ambitions.
Having a presence in Cambridge, one of the UK’s medical technology hubs, we have built up an expertise in supporting medtech companies. From the more embryonic companies relying on grants to fund them through their discovery phase through to companies with an established product to distribute, we can support you along the way as your accounting partner. We understand the common schemes that will support you, from claiming R&D relief to using schemes to retain key staff or making your company more attractive to investors.
As a SaaS company, you can be confident that we share the same values in using cloud-based software. We’ll use the best cloud-based accounting software and integrations to make your accounting and finance processes as automated and efficient as possible. This will always allow you to have access to real-time management information, which coupled with our personal expertise and advice on important SaaS KPI’s such as subscription churn and LTV, allows you to better understand your business performance and forecast your future runway.
Web 3.0, as the name alludes to, is predicted to be the third evolution of the internet. This next iteration is said to have a focus on decentralisation, which will be built on blockchain technology to allow the internet to be run and shared by users, rather than a single entity. Once viewed as science fiction, it’s also likely that the ‘metaverse’ will become more and more ‘real’.
It’s true that no one yet knows what web 3.0 and the metaverse will look like now, but there will be many tech businesses that will help shape this future and we’re keen to support them as their accountancy partners. One area that will likely be foundational to both web 3.0 and the metaverse will be cryptocurrency which is an area that we support our clients with. Our tech team works with market-leading software that connects all of your wallets and exchanges to help with portfolio tracking and tax reporting. Alongside our tax experts, we can advise you on the ever-evolving tax implications on the many different types of crypto transactions.
Our Blog and Resources
Tech Sector Update: Unpacking the Impact of the Autumn Statement 2023
We explore the main tax changes in the Autumn Statement 2023 and their potential impact on tech businesses.
Managed IT Services Company’s Guide to Management Reporting
Running a Managed IT Services company is [...]
Retain and Motivate Your Key Staff: EMI Schemes for Tech Businesses
Retaining and motivating key employees in such a competitive market can be challenging and costly for technology businesses.