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Chantrey Vellacott gives technology firms the edge
Accountants and business advisers, Chantrey Vellacott, are very proud to sponsor the Southern Tech 100 for the first time this year. The firm’s sponsorship is a reflection of the growth that the firm has seen in this sector in recent years, driven by its innovative approach to Research and Development (R&D) tax credits, writes Neil Tustian, head of technology and telecoms at Chantrey Vellacott
Our team
brings together specialists from across all service lines including engineers and scientists alongside chartered accountants and tax advisers
Our newly constituted Technology and Telecoms Group offers a full range of audit, corporate finance and tax services to technology and telecoms companies, from fast growth start-ups to established multi-national businesses.
The breadth of the technology sector, and the pace of change and growth for successful companies, requires advisers to have a wide range of knowledge and expertise to support the industry effectively.
Chantrey Vellacott has always had a strong foothold in the technology and telecoms sectors, and this has grown considerably in recent years. The expansion of our Technology and Telecoms Group places us in an ideal position to support new and existing clients to gain a competitive advantage in their respective fields through our knowledge and expertise.
We have a 100% success rate on all R&D claims
Our team brings together specialists from across all service lines to ensure that the wider firm, and our clients, are fully briefed and able to respond quickly to changes in legislation or other regulations.
The key defining feature of the technology sector, and one of the things that makes it so fascinating, is that it is very difficult to define, and overlaps with many other sectors.
There are, however, similarities that are consistent across the breadth of the technology sector, such as the pace of change, product development, funding and exit routes, intellectual property protection and structuring, VAT and other tax intricacies.
A key part of our service in this sector has been our standing in the area of R&D tax credits, where we have a specialism in identifying claims which have been overlooked by previous advisers or where the directors are not aware that they have projects and related expenditure that qualifies.
The scope of R&D tax credits is much broader than many people realise. The firm has helped companies from across the sector claim cash back from HM Revenue and Customs, easing cashflow and allowing reinvestment in future
THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2015
www.businessmag.co.uk
innovation. Every tech company should take time to investigate carefully whether they carry out activities that qualify for R&D tax credits, or they may be missing out on a valuable tax break or even cash in their bank account.
Our team includes experienced engineers and scientists alongside chartered accountants and tax advisers. This variety of expertise is vital in enabling us to gain a full understanding of a company’s products and services, which has helped our clients achieve savings of over £30 million in the past year and has a 100% success rate in the technology and scientific aspects of R&D tax credit claims.
These tax credits are not restricted to the sort of industry that businesses used to associate with R&D, such as science or aerospace, because it can also include other innovations whether for new product development or the development of new internal processes.
Neil Tustian, a partner at Chantrey Vellacott since 2012, has built up considerable expertise within the technology sector during his 12 years based in the Thames Valley region. He was appointed head of the firm’s Technology and Telecoms Group in early 2015.
Details: Neil Tustian 0118-9524700
ntustian@cvdfk.com www.cvdfk.com
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