Technology Accountants2023-11-23T10:01:53+00:00

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.

The Tech Journey

Shareholder agreement

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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Seed raise

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

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With our Research & Development partner, we can help tech companies with R&D claims that provide valuable cash back from HMRC

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We can ensure you understand key metrics for tech companies like your burn rate & cash runway

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We’ll advise on the most appropriate schemes to retain and motivate your key staff

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Founders, investors and the board will start to require regular management information in the form of board reports

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We can help tech companies with an outsourced finance function and CFO to provide valuable analysis, insight & planning

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Series A raise

The next landmark raise to help you scale

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A review of financial statements to add credibility to your company and/or to comply with legal requirements

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Series B raise

An additional raise to help your take your tech business to the next level

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With our international network, we can help if you have ambitions to expand overseas

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Wealth planning

Once you’ve made your exit, we can still help you with planning for your personal future

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Exit

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

Exit planning

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

Shareholder agreement

Working in conjunction with a solicitor, we can support you with preparing a shareholders agreement

Read more…

Tax planning

We’ll be on hand to support you with operating tax efficiently

Read more…

Cloud accounting

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…

Seed raise

Your first official raise to help get your company off the ground quicker

Read more…

R&D claims

With our Research & Development partner, we can help tech companies with R&D claims that provide valuable cash back from HMRC

Read more…

Cash flow forecasting

We can ensure you understand key metrics for tech companies like your burn rate & cash runway

Read more…

Employee Incentive Schemes

We’ll advise on the most appropriate schemes to retain and motivate your key staff

Read more…

Series A raise

The next landmark raise to help you scale

Read more…

Outsourced Finance Function

We can help tech companies with an outsourced finance function and CFO to provide valuable analysis, insight & planning

Read more…

Board reporting

Founders, investors and the board will start to require regular management information in the form of board reports

Read more…

Assurance / audit

A review of financial statements to add credibility to your company and/or to comply with legal requirements

Read more…

Series B raise

An additional raise to help your take your tech business to the next level

Read more…

International expansion

With our international network, we can help if you have ambitions to expand overseas

Read more…

Exit planning

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…

Exit

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

Wealth planning

Once you’ve made your exit, we can still help you with planning for your personal future

Read more…

Meet our Tech Sector Experts

James Foster ACCA
James Foster ACCAHead of Strategy (Tech & High Growth)
James works as Head of Strategy in our Tech & High Growth department. Whilst he is an ACCA qualified accountant with over 8 years of experience within the industry, he has taken up a variety of different roles covering commercial, finance, marketing and technology responsibilities.
As well as accountancy, James is passionate about the tech industry which makes his current role the perfect overlap between the two. James enjoys getting to know our potential new clients and understanding the challenges they face and how The Smart Accountants can help overcome them.

Outside of work and technology, James likes playing both football and has started playing golf too, although he admits he doesn’t play either hobby very well!

Dave Hailey
Dave HaileyHead of Tech & High Growth
Dave is a Director and heads up our Tech & High Growth department at The Smart Accountants. As Head of Tech, he has extensive experience in supporting tech businesses, whether they’re early-stage and pre-revenue or preparing to exit.
With over 15 years of practice experience, in addition to stints in both industry and the insolvency sector, Dave has built up significant commercial and business acumen. Dave spends time understanding his clients and the vision they have for their business, their key drivers and the challenges they face. This allows Dave to help them navigate the common pitfalls and to provide solutions to the challenges they face.

Outside of work, Dave enjoys playing golf and watching Tottenham Hotspur (although, don’t hold the latter against him!).

Sam Robson
Sam RobsonSupervisor (Tech & High Growth)
Sam is a Supervisor within The Smart Accountant’s Tech and High Growth team.

As an ACCA qualified accountant, Sam offers a wide range of accounting services and advice to tech and high-growth businesses.

Sam enjoys the fast pace and speed of innovation within the tech industry and aims to support our clients as they progress along their tech journey, often from the pre-MVP stage to exit. Whilst ensuring all compliance needs and deadlines are met is critical, Sam also values building strong relationships through pro-active communication with his clients.

Outside of work, Sam likes to travel and explore new places. He also enjoys watching football, namely Tottenham Hotspur FC.

Panos Tsakloglou
Panos TsakloglouManagement Accountant (Tech & High Growth)
Panos is a Management Accountant within our Tech & High Growth team. With 10+ years’ experience in Bookkeeping and Management Accounts, and specialising in cloud accounting, Panos is passionate about finding new technology solutions for his clients.
Panos likes to get things right and enjoys streamlining processes to optimise performance, deliver accurate information and meet all internal and statutory deadlines.
In his free time, Panos loves watching films (especially sci-fi), listening to music, exercising, travelling, and spending good time with friends and family. He also often spends hours watching educational YouTube videos about science/biology, new developments, new technology and travel.

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.”

Jack Waley-Cohen, what3words

“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.”

Aaron Awan, Hometree

“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.”

Dr. Juergen Fink, OBRIZUM Group

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.

Traditionally, education was delivered by paper textbooks in face-to-face classrooms and seminars. Today, due to digitalisation and then accelerated by the pandemic, people can receive forms of education wherever they are. The tech-enabled, online model that isn’t confined to the dimensions of a classroom allows for education to be offered at scale, often without sacrificing the level of interaction from students. Due to this, Edtech is a growing space within the UK economy and one that we’re proud to support through our clients. 

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.

There has been a shift in recent years from high-street to online shopping and e-commerce is predicted to remain strong in a post-pandemic world. Better technology and SaaS platforms that enable businesses to sell, distribute and process payments for their products online have made it easier for startups to enter the e-commerce space. However, it’s also important that e-commerce businesses have a reliable accountancy and finance function, whether in-house or external, that not only keeps them compliant but also helps drive the company forward.

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.

Fintech was previously a sub-sector reserved for larger institutional finance organisations due to the technological, financial and regulatory barriers to enter. Fast-forward to today and this sector is a hotbed for new start-ups and an area of interest for many investors willing to help fund startups getting beyond these barriers to entry. Many startups are using technology to innovate payments, lending or other financial tools and processes.

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.

Technology has been a driving force in innovation and responding to evolving consumer trends within the food industry such as the increased demand for home deliveries, more ethical foods and alternative/substitute ingredients. Technological advances have ranged from consumer apps offering meal kits and subscriptions from restaurants to smart appliances and the Internet of Things (IoT) improving kitchen technology all the way to blockchain being used in supply chains.

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.

Digitisation in the insurance industry is a growing trend due to evolving consumer demands. Where some larger incumbent insurance companies are slower to adopt technology, it has provided opportunities to smaller but more agile start-ups that utilise automation, cloud computing, big data and AI to provide value and offer support to consumers.

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.

Technology is playing a huge part on the evolution of the legal industry, ranging from AI driven software that scans case law to using smart contracts stored on a blockchain. Many legal tasks can be complex and time consuming, but the space where legal services and tech overlap, may help transform and simplify these whilst still mitigating risk and retaining the foundational trust and integrity required.

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.

Medical and health technology are growing industries and there are many innovative companies in the UK utilising tech such as AI, wearable tech and machine learning for medical, science and health advancements. However, high regulation and testing requirements can often mean these companies take time before a product or service can be delivered and a revenue can be recognised, so it can be a difficult space to operate in. Therefore, having an accountant that understands the common pitfalls and issues you may face is very valuable.

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.

Software-as-a-Service (Saas) is no longer emerging technology thanks to its rapid growth over the last 20 years establishing it as the norm for selling software, where today having to download software can feel like a relic for consumers. Many SaaS businesses have managed to scale their subscriptions rapidly through acquisition models such as freemium models, free trials, demos and referral schemes, making it an attractive space for high-growth startups.

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

FAQ’s

Yes, we want to ensure that we’re good fit for working together and to give you a chance to meet the team before you join us. Therefore, our Head of Strategy for Tech will reach out to arrange an initial call with you. This will be to understand more about your business such as your key challenges and your vision for the business as well as discussing our services. After this, we’ll be able to prepare a bespoke proposal for our services and arrange a 2nd call where our Head of Tech will join to talk through this and any questions you might have before you join.

Yes, this is a straight forward process. If you speak to us about switching, we’ll look to agree a date for the process to start. You’ll then need to let your previous accountant know and give us permission to speak to them. We’ll then liaise with your old accountant directly to get your information transferred over to us with minimal disruption for you. After we undertake our ‘Know Your Client’ processes to ensure we’re complying with the Anti Money Laundering regulations, we’ll register as your agents with HMRC. This will allow us to correspond with HMRC on your behalf. We’re then ready and set up to start supporting you and your business.

Yes, we’ll speak to you to understand your requirements and the existing processes that you have in place. From here, we can then recommend, set up and support you with relevant software and apps that will make the running of your business more efficient and provide you with better management information. This can range from Xero, a cloud-accounting software to manage and track your finances in real time, to GoCardless that makes it easy to collect recurring or one-off payments. Whatever your finance and accounting function requirements, we’ll be able to advise on the relevant software. More details of the software providers we work with can be found here.

Yes – we’ll work with you on a fixed fee basis. We’ll agree a tailored monthly fee covering the services that you’ve requested to be paid via a direct debit every month. If you require additional services, we can agree these before the work is carried out. Our monthly fees include ongoing advice, so you can always pick up the phone and ask us relevant questions with no additional charges.

All technology clients sit with our specialist technology accountants team which allows the team to specialise in supporting these clients and focus on understanding the unique issues and opportunities that apply specifically to clients working in this space. Our team understand the typical lifecycles for tech clients, the common pitfalls and opportunities and what the most important metrics are for tech companies dependent on where they are within their journey. For a tech startup, we can provide management information that details important metrics like the company’s burn rate and cash runway. For a tech company looking to retain their key staff, we can advise on the common schemes within the industry like the EMI scheme. Whatever your business model, company maturity or sub-sector within tech, we can lean on our experience to advise and support you.

Yes, we understand that your business will be strapped for time and often it can be more efficient and cost-effective to outsource your bookkeeping. Our experienced and specialist outsourcing team can take on this admin for you to allow you to focus on more value-add tasks. We can set you up with Xero’s online accounting software which we’ll use for your company bookkeeping and accounts, but provide you with access.

You can send your invoices to a pre-agreed email address so that we can feed these into Xero. In terms of your bank account(s), we can set up an automated bank feed so transactions are automatically posted and you’ll see a real-time view. Using’s Xero’s app, you can scan expenses and receipts automatically so they’re sent through to us. Once we have all this information, we’ll then be able to review all of the transactions to reconcile your accounts and make adjustments where necessary, to ultimately provide you with periodic reporting.

There may also be other apps such as Dext than will further automate and streamline these processes.

No, whilst we’re based in Hertfordshire & Cambridge, we support tech companies across the country through our online solutions and can offer meetings via phone calls or Team/Zoom if needed. If you are local though, we’re happy to arrange face-to-face meetings if preferred.

The Next Steps

If you’d like to speak to us regarding any of our Tech services, please feel free to reach out and one of our specialist technology accountants will be happy to discuss this with you. Please call us on 0845 606 9632, email us at team@thesmartaccountants.co.uk or complete the contact form below.