Our Specialist Sectors
Technology

Technology is a high growth, rapidly changing area and here at Ellacotts we aim to be equally dynamic in the accounting services we offer to our clients in this sector.

Our team of professionals servicing our technology sector clients are dedicated to helping them at all stages of their business, from sole traders and start-ups to established companies and multi-national groups. We represent clients operating in many fields, including computer hardware and software, telecommunications, provision of internet services and IT consultancy.

Online Accounting

At Ellacotts we want to make things easier for you. We offer a selection of online accounting software packages for bookkeeping which are cost effective, secure and practical meaning access to your records anywhere, anytime with no installation, upgrades, data files backup or disaster recovery to worry about. These can often be ideal for smaller or start up businesses and we regularly offer demonstrations and training sessions to our clients.

More about online accounting

The Patent Box

Phased in from April 2013, The Patent Box relief is closely linked to R&D tax relief, providing a reduced rate of corporation tax for companies exploiting patented inventions or other innovations protected by certain intellectual property rights. You can read our factsheet here. Although a relatively new area, we are already exploring this with our existing clients and can work with you in preparing and submitting a claim to give your business the best chance benefitting from the potential tax relief available.

Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS)

The purpose of both the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) is to help small, unquoted trading companies to raise capital. The SEIS focuses on smaller, early stage companies and so can be viewed as higher risk for the investor than the EIS which is reflected in the rate of tax relief available.

The EIS and the SEIS can provide income tax and/or capital gains tax relief to the investor where certain qualifying conditions are met. Although the SEIS applies only to investments made between 6 April 2012 and 6 April 2017, the relief is unprecedented and unlike the EIS, company directors investing in their own companies may also be able to qualify for SEIS.

An overview of the key conditions to be met by the investor and the company can be found in our factsheet here. As with all such transactions it is crucial to have the right advice before proceeding and whether you are a potential investor or are looking to raise company finance through the scheme we can guide you through the process.

Research & Development

The Government actively encourages Research & Development (R&D) and the advancement of technology through its tax incentive scheme. The R&D tax relief offers enhanced relief on allowable expenditure and can even result in a repayable tax credit in some instances. You can read more details in our factsheet here. We can assist in preparing and submitting your claim as well as liaising with HMRC on your behalf to ensure that the process is as smooth and efficient as possible.

We would love to hear from you!
Book a free meeting with us today.
David Stevens
Managing Partner and Corporate Services Partner
Charlotte Houghton
Partner

Using the latest technology, our App has been developed to provide you with useful tax tools and information via your mobile device. Available for iOS and Android mobile phones and devices.