Software Developers

As a software developer you need to be confident that your advisors can provide the very specific advice and support you need in order to continue to innovate, develop, produce and sell your software, successfully.

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Software development is a mainstay of UK industry. This vibrant sector includes companies of all shapes and sizes and at every stage of their corporate life cycle. This means that every software developer faces a slightly different set of issues. So you need to be absolutely sure your accountant can provide the very specific advice you will need in order to continue to with your work and to sell your product, successfully.

If you are involved in software development we can help you meet all of your compliance requirements including the preparation of your year-end statutory accounts and corporation and personal tax returns. We can also help you with your payroll, P11ds and VAT.

However where we can really add value is by applying the knowledge and experience we’ve built up from working with software businesses just like yours. It is this experience that will help you navigate some of the more specific issues software developers face on the road to success.

We will help you get the right structure in place

Many software businesses give out too many shares to too many people too early and when it comes to fundraising that can put off many investors. Similarly you need to make sure your company’s structure houses your intellectual property correctly so it delivers the highest possible return.

We will make sure you have a Shareholders Agreement in place

This will protect you from any fall-outs or loss of shareholders in the future and to make sure that when you reach your exit point, all of the shareholders receive the right returns.

We will help you recognise who should be doing what

The person who has the initial idea behind your software will often make a better CTO than they would an MD or CEO but, despite the fact having the wrong person fronting your business is potentially damaging, sometimes it’s hard for you to see that from the inside.

We will help you ensure any drive for funding is a success

There are different funding options for the different stages of your businesses’ life. At the start your funding is likely to come from either yourself or your family, but as you start to grow and eventually look to exit, business angels, VCs and crowdfunding will start to become involved. We will guide you through the process at every stage.

We will help you make the most of EIS & SEIS

Aside from the fact that registering for Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS) can make it easier for software developers to secure investment, it is essential you register your business as early as possible. We will explain why and then guide you through the registration process.

We will help you put your preferred exit plan in place

With a technology driven business you need to start planning how and when you want to exit as soon as you start your business, especially as your exit could be almost imminent.

We will show you how to take advantage of R&D tax credits

R&D tax relief is designed to encourage innovation in the UK and to give companies investing in Research and Development a valuable boost.

As creating software is reliant on innovation, it is likely you could qualify for this relief.  Our experienced specialists understand the criteria and the application process, we will let you know if you are eligible, and will help you with your application.

We will show you how to take advantage of the UK Patent Box

If you have any current patents you are now able to pay a reduced rate of Corporation Tax on all of the income generated by your patented innovation whether you have generated the revenue yourself or if it has been generated by a third party that you’ve licensed to sell your software on your behalf. We will help you put your claim together so you enjoy the maximum financial benefit from the Patent Box incentive.

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For support for your software business please contact us

    Software Developershttps://www.alliotts.com/sectors/technology/software-developers/
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    Luke
    Bath

    Partner

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    Luke is a partner within our Corporate Finance and Outsourced Business Services teams.

    Luke’s approach is to invest time in understanding the client’s objectives and uses his expertise and experience to help the client achieve this.

    Luke particularly enjoys working with growing businesses and has experience in dealing with clients of a range of sizes, from large private equity firms to startups.

    Luke is also honoured to have been recognised in the 2021 Accountancy Age ’35 under 35′ awards, which showcases the rising talent in the industry who are making great contributions to both their firms and field.

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    Chris
    Cairns

    Partner

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    In his capacity as a business advisor to fast growing businesses Chris often works in the technology and space sectors.

    Alongside support with accountancy and tax, clients in these sectors look to Chris for high level advice on setting up in the UK, company structuring, tax reliefs and on M&A transactions. Chris is driven by working towards a successful outcome for his clients, and taking their business challenges on as his own, is relentless in finding solutions that will work.

    Chris is regularly invited to present on investing in the UK at events hosted overseas.

     

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    Andrew
    Douthwaite

    Partner

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    As an advisor to fast growing start ups and accelerating established business Andrew works cross sector with recent clients in the gaming, hospitality, space and professional consulting industries.

    These clients benefit from Andrew’s experience in working as an outsourced CFO/Finance Director to facilitate the business and its directors to achieve its goals.

    With Andrew’s experience in general practice, founders and directors can lean on his advice for more than just commercial and statutory accounting, with knowledge of corporate and personal tax including experience in R&D and Video Game Tax Reliefs.

    Andrew works with clients both seeking and having achieved inward investment, and as part of the Corporate Finance team has advised clients both preparing and pitching for investment as well as assisting in due diligence for those looking to acquire.