High tech industry
- Software developers
- Chemical research & manufacture
- High-tech manufacture
- Associated support businesses
Our experience in this sector has largely arisen from Stanes Rand being based in central Cambridge, arguably the UK’s leading high tech city. We are in a prime location to service the many companies on our doorstep and in the surrounding ‘silicon fen’.
The nature of ‘high tech’ has created a very dynamic environment for businesses in Cambridge. We have extensive experience in translating ideas into start-ups, assisting in raising investment and providing tailored advice every step of the way as sale to larger multinational corporations take effect. We can, and do, help at every stage of the process.
The high-tech sector is vital to the long term success of the UK economy. This is recognised by the government in the form of grant funding and some rather generous tax reliefs to assist in investment into research and development.
Grants represent a core area of funding for many high tech businesses. Not only can we assist in the grant application process, with preparation of cash flow forecasts and budgets, but we also have experience acting as auditors, verifying to the grant-giving body that the money has been spent in accordance with the grant application.
A valuable website to access grant funding can be found here. This provides details of government grants available, for example:
- Ready, Set, Go innovation grants (for new products and ideas)
- Smart Scheme grant (for research & development projects)
- Technology Strategy Board grant (for innovation technology)
Another source of assistance comes in the form of ‘Knowledge Transfer Partnerships’. This is promoted by the Technology Strategy Board and is a scheme to create collaborations between UK businesses and universities.
Investment and Borrowing
We can help clients who need either third party investment or funding from lenders, by assisting in the preparation of business plans with the required budgets and cash flow forecasts.
With regards to investment, we have built up expertise in applying for SEIS (Seed Enterprise Investment Scheme) and EIS (Enterprise Investment Scheme) approval plus subsequent company secretarial support in the issuing of shares.
The SEIS and EIS scheme give 50% and 30% income tax relief respectively on any investment, as well as capital gains tax re-investment relief, provided the investment is held for a qualifying period of time.
Examples of sources of finance, excluding the main banks, are:
- Funding Circle
- Foundation East
- Enterprise Finance Guarantee Scheme – a government backed scheme to provide security for lending in situations where there is no security available from the borrowers
Examples of sources of third party investment are:
Tax Planning and Reliefs
Experience has shown that we are able to add most value in the tax planning process if there is clear dialogue between us and our clients so that we can understand their business as well as short, medium and long term goals and objectives.
Areas in which we have helped clients include:
- Advising on the best legal structure
- Setting up of employee-related share schemes
- Claiming research & development relief or tax credits
- Claiming enhanced capital allowances on certain low carbon capital purchases
Please feel free to contact us to find out how we can help.