In a vibrant and innovative sector, we provide the accountancy services you need
From cybersecurity specialists to the latest tech and software systems, the UK tech sector is thriving and our team of experts are on hand to provide you with the advice you need.
The UK tech sector continues to innovate and move forward but it faces a number of challenges ahead. From a skills shortage to regulatory challenges, our team of experts can help support you and your business thrive against these challenges. Our team has an abundance of experience supporting a number of clients within this sector from e-commerce start-ups to web developers, we have the experience and knowledge your business needs.
The world of technology is also complex and fast-paced, leaving individuals who work in the sector to be unaware that they may be eligible to claim tax reliefs on the work they produce. Here at Forrester Boyd we can help you understand the type of activities that will qualify for R&D tax credits and make you aware of work that will not be eligible.
Services for tech companies
Our advisers work closely with you to ensure that you are in compliance with all the relevant tax laws and regulations in the tech sector. We also offer a wide variety of services which include:
- R&D Tax Credits
- Annual accounts
- Tax planning & compliance
- Billing and collections
- Cashflow and forecasting
- Outsourcing services
- Consulting services
- Corporate Finance
Challenges facing the tech sector
The UK technology sector is one of the most vibrant and innovative in the world, but it faces a number of challenges. These include:
- A skills shortage – The UK has a shortage of skilled tech works, which is making it difficult for businesses to hire the talent they need. This is particularly acute in areas such as artificial intelligence, cybersecurity and data science.
- Brexit – The UK's departure from the European Union has created uncertainty for the tech sector. Businesses are concerned about the impact of Brexit on trade, immigration, and regulation.
- Competition from other countries – The UK faces increasing competition from other countries, such as the United States and China. These countries are investing heavily in research and development, and they are attracting top tech talent from around the world.
- Cybersecurity threats – The UK is a major target for cyberattacks. Businesses need to invest in cybersecurity to protect their data and systems.
- Regulatory challenges– The UK tech sector is subject to a number of regulations, which can be complex and time-consuming to comply with. Businesses need to be aware of the regulations that apply to them and make sure they are compliant.
Despite these challenges, the UK technology sector is still growing and innovating. Businesses in the sector need to be aware of the challenges they face, but they should also be confident in the sector's long-term prospects.