Tech Start Ups & Software Developers
Working as a tech start up or in software development requires you to be savvy and up to date with all the opportunities available to you when it comes to managing your accounts and finances.
MWA’s specialist accountants are here to help, streamline your financial management using completely digitalised solutions giving you the real time data you need to manage your businesses growth.
Operating in the tech sector means there are a number of opportunities available to you through grants and research and development that using a specialist accountant can help you maximise and enhance your chances of success for any applications or claims made under the schemes providing grants for tech start up business and software development research and development claims.
Whether you are looking for advice on taxes, invoicing, business planning or payroll, we can offer tailored guidance to ensure your finances are in the best possible shape.
With MWA, you can rest easy that your accounts are in good hands, allowing you to focus on your work and your passions.
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Help you prepare financial information for research and development claims or grants
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App for all your expenses and receipts
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Complete your tax return for you
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Always available for any queries
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Make sure you get as much tax relief on your expenses as possible
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Help you decide whether to be VAT registered
Research & Development Claims for Tech Start Ups & Software Developers
Navigating the complex landscape of Research & Development (R&D) claims can be daunting for tech start-ups and software developers. At MWA, we specialize in guiding you through this process to maximize your financial benefits.
Our expert team understands the unique challenges faced by tech businesses and offers tailored solutions to ensure you take full advantage of R&D tax relief schemes - strategies that we've implemented in the past include changing from a low salary/high dividend remuneration strategy for owner/directors, to high salary, in order to maximise the global tax benefit of an increased R&D claim. Whether you’re developing new software, improving existing technologies, or undertaking innovative projects, we can help you identify qualifying activities and compile robust claims.
Bespoke Packages for
Tech Start Ups & Software Developers
based on your needs.
Sapling - Tech start-ups at the beginning of their journey that need some assistance.
Momentum – established tech businesses and software developers needing a higher degree of assistance to streamline financial management.
Global Crowd - large businesses in the tech sector generating a higher level of income that need full a full service solution
"extremely friendly, approachable, and give clear advice. The team are highly efficient and go the extra mile for me and those that work with me. Whenever I have a query Richard is always on the end of the line to assist. I would highly recommend MWA to any other company looking for a reliable accountancy practice..."
Alex, Managing Director, UK Expert Medical
"...inputs and response times are fantastic ... advice has been timely, professional and commercial both in dealings with us and other professional advisers... it’s unusual to find an accountant in practice who speaks in plain English and is so commercially-minded, which is exactly what we have in MWA.”
Andy Scott, Chairman, REL Capital
"...great service from MWA Accounting every time, really pleased we switched across to them and they've really helped us out as a company over the last couple of years, always offering great advice, would certainly recommend."
Josh Ainsley, Managing Director, Ainsley Signs
FAQs
Influencers represent a relatively new industry, meaning that many of the rules and conventions that businesses usually follow are still only just emerging. For individuals and brands that are just starting out, this can create a number of areas of potential confusion.
If you are earning money online, it can be unclear what is the best business model to adopt, or how to plan and manage your finances around an irregular income. You may also be unsure about what your tax liabilities are, or how to account for gifts, royalties and appearance fees when filing tax returns.
Given that many influencers start out as hobbyists without any specific intention of forming a business brand, getting professional advice from an experienced accountant with knowledge of the sector can be a crucial step in getting your finances in proper order.
Claiming expenses for tax-deductible purchases is one of the key ways that businesses can improve their financial efficiency, but many influencers do not know which of their costs could potentially be claimed as an expense.
The following purchases could potentially be claimed back through your tax return, provided that it is being used solely for business purposes and the receipt has been retained:
- Office supplies
- Business software and subscriptions, such as payments for stock photos and video assets
- Internet service costs
- Web design and development costs, including hosting and domain names
- Phones, laptops and cameras used by the business
- Business-related travel
- Merchandise and products purchased for content creation, such as items that have been bought to be reviewed
- Marketing-related spending, including prizes purchased for giveaways
Working with an accounting firm, you will be able to work out which of your outgoings can be written off as expenses, while remaining on the right side of the law.
As a general rule if your income is over a certain amount then it is VATable. There are some specific loop holes for YouTube AdSense for example if you meet certain criteria but the best thing to do to work out what is required/the most cost effective for you is to get in touch with us and we will point you in the right direction.
A W-8BEN-E is to prevent content creators and influencers losing 30% of their income when they are working with brands in the USA. We have completed a number of these for various clients and can asset you with this process.
No, but if you’re thinking about VAT then it’s probably worth trading through a company to save tax. This is something that we would be able to advise you best with a bit more information from you, so book a call or drop us an email.
If you are paying someone to help you create or edit content, deal with brands or anything else directly related to your business, then yes you can and will reduce your own tax bill if you do it correctly. If it’s a one-off, then they can give you an invoice and depending on their circumstances may not pay tax on it, even if it’s semi-regular. Get in touch so we can advise you of the specifics in relation to your content creation and social media channels.
If you’re a limited company, yes. Every transaction related to your work should flow through that bank account. Even if you’re a sole trader then legally you don’t have to, but we suggest you do so that no tax deductible expenses are missed when your accounts are done, given the nature of content creation and social media this could easily happen.
Contact MWA Accounting
We're really flexible you can email, WhatsApp, call or DM @mwa_accounting let us know what works best for you?
info@mwa-accounting.co.uk 0161 826 5259WhatsApp:07595 970 657