Funding Advisory Hub

Bishop Fleming Funding Advisory Service

Our Funding Advisory Hub, curates insights and expertise together in one place, to assist your company in raising finance.

Technology, Media and Telecommunications

Accounting Services for Technology, Media and Telecommunication Businesses

The world is changing at lightning speed. Businesses are increasingly technology based and constantly innovating to stay one step ahead. Where once it took years to build a business, growth can now be exponential. 

The Bishop Fleming Technology team offer an accountancy and business advisory service for the technology sector. We fully understand the needs of the sector and can support your business, whatever the size, locally, nationally and internationally.

We are a multi-disciplinary team offering numerous services to the technology sector, from research and development tax credits to management accounts and restructuring to refinancing. We work with everyone from start-ups to PLCs, including the business angels and other funders that invest in many of the region's businesses. We are experts in Angel and Venture Capital (VC) funds including British Venture Capital Association (BVCA) structured funds.

To find out how we can help you or your business with Technology sector advice, please contact a member of our team.
 

Empowering tech growth at every stage

Our support for tech companies include:

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Accounting Systems and Controls

Accounting systems consultation, design and strategy
Our team of experts keep up to date with the latest developments and work closely with software providers to help and advise our clients within this sector to run their business as efficiently as possible.    We are seeing an increasing number of clients benefiting from automation and digitalisation to provide them with real-time and accessible information to make informed business decisions. 

 
Internal control review and report
We also help clients of all sizes,  by reviewing internal processes to assist with their understanding of the internal control environment. This can assist with workforce management or getting ready to implement new systems.  
 

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Audit

We believe an audit is more than a tick in a box and statutory requirement. As auditors we are in a hugely privileged position to bring true insight to both management and key stakeholders. With higher data volumes and the shift from manual to automated processes, we have developed sophisticated data analytics tools to derive more value from the audit process. 

Our data analytics tools use your business data to perform complex interrogation routines. Results from these procedures are presented in easy to understand “dashboard” style visualisations. With a diverse range of clients we can benchmark data and enhance meaningful conversations.

We embrace technology and use a secure portal to seamlessly exchange information with our clients. We were one of the first UK firms to invest in highly sophisticated audit and accounting software. Our level of involvement in the design and development of the industry leading CaseWare programme has given us unrivalled experience which can be drawn upon should you need assistance in the preparation of your statutory accounts.
 

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Funding Support

We are experienced in advising on raising new debt for acquisitions, capital expenditure, working capital or anything else. We can assist in identification of and liaison with potential lenders, preparation of forecasts & business plans, presentations to lenders, negotiations with lenders and financial and commercial input to legal documents. 

We can also identify sources of equity funding for technology, innovation and growth businesses, from those needing start up capital, through to those established businesses looking to fund expansion. We can assist in the presentation to potential funders, establish an indicative valuation for the business and assist in negotiations with funders. We can do what is required to ensure that the business gets the funding it needs to reach its objectives.

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International Tax

We have an experienced team of international specialists who advise our technology, innovation and growth sector clients on a wide range of international tax matters, including cross border funding transactions, structuring overseas expansion tax efficiently and helping our overseas clients investing in the UK to navigate UK tax requirements and access key UK tax reliefs for innovation. We provide international VAT, corporation tax and employment tax advice and keep our clients updated on Brexit developments, advising on its implications and restructuring for the post-Brexit landscape.

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Media

When it comes to HMRC filings and tax-returns, there are no dress-rehearsals. Our specialist media and creative industries team can help you to focus on the bigger picture.

The UK has a vibrant and thriving marketing, media and creative industry which is becoming more and more important to the economic well-being of the country. We understand that businesses in the media and creative sector operate in an extremely competitive marketplace and so your time is precious. Our team can work flexibly around your commitments and take a proactive approach to guiding you through the regulatory and financial issues involved in running your media or creative business. This allows you to spend more time doing what you do best.

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Patent Box

Patent Box is part of the Government's strategy to make the UK one of the most competitive tax regimes in the G20. It provides an additional incentive for companies to develop, commercialise and retain patented technologies in the UK. The Patent Box is likely to be of interest to a large number of companies engaged in the design, commercialisation and exploitation of innovative patented technologies. The potential benefit is dependent on a company's business models, internal accounting policies and IP strategy. Companies should consider now if they could benefit from the Patent Box initiative and consider what steps they need to take to maximise the benefit of the relief.

To find out how we can help you or your business with Technology sector advice, please contact a member of our team.

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R&D Tax Credits

Bishop Fleming has already submitted successful claims for Research and Development (R&D) relief in excess of £250m in the past seven years.

We have considerable knowledge and expertise in the Research and Development market and understand how to use the rules to maximise the claim. It is often surprising for what expenditure claims can be made. Business costs that would otherwise simply be written off could actually be increased for tax relief purposes, resulting in a substantially reduced corporation tax bill, or even a tax repayment to help fund further development.

Visit our R&D Knowledge Hub for more insights.

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Statutory accounts and outsourced services

We provide a range of outsourced services to our clients so that they can focus on running and growing their business in the knowledge that financial compliance and management is taken care of. 

Our clients value the flexibility to choose what services they require, and to what extent, so they can benefit from our expertise at the right time.

Our outsourced services include:

  • Statutory accounts preparation
  • Management reporting including budgeting and cashflow forecasting
  • Virtual Finance Director 
  • VAT returns and record keeping
  • Registered office and company secretarial
  • Payroll
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Strategy

We can assist the Board of a company over time in long term strategic decision making. Utilising our diverse technology, innovation and growth sector expertise we can ask the hard questions, sometimes providing the unpopular view. We can help identify what the owners and directors want out of the business, and help with the implementation of long term plans.

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Tax Compliance

We offer a full, holistic tax compliance service to our technology, innovation and growth sector clients including corporation tax compliance, payroll services, annual P11d returns, VAT returns and company directors’ personal tax returns.  We provide an efficient and cost effective compliance service ensuring our clients’ tax compliance obligations are met. At the same time, we provide pro-active advice on minimising tax liabilities, accessing tax reliefs and tax efficient remuneration planning for both owner managers and their employees.

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Tax Advisory Support

There are many tax incentives available to technology, innovation and growth businesses. We help our clients access those reliefs effectively and comply with the strict conditions which must be met.

Complex structures for funding and ownership expose Technology, Innovation and Growth clients to less commonly encountered areas of the tax code. We explain the issues to our clients in plain language, and work with them to find effective solutions.

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Transaction Advice / Business Lifecycle Support

We provide a life-cycle service for technology, innovation and growth businesses. 
For businesses considering taking on an equity investor for future growth, we can assist in assessing strategic options, preparing the business for investment and due diligence, researching the market and finding potential investors, negotiating the best deal, providing commercial and financial input to the legal process and project managing the transaction to completion.


For businesses looking to expand by acquisition we provide a full lead advisory service to ensure the right deal actually happens. We can assist with finding targets, raising finance, negotiating the deal and efficiently and effectively project managing the transaction to completion. We can also provide due diligence services, evaluating the financial and tax aspects of the acquisition, and assist with post-transaction acquisition integration.

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VAT

VAT compliance is an important consideration for all growing businesses. It is important to have strong systems in place to make sure that transactions are treated correctly and that VAT compliance is managed effectively. The UK now has digital reporting for VAT returns and in 2020 there will be a further requirement for all the steps within the VAT accounting process to be fully digital. Complex businesses may need to review or upgrade their systems in order to comply with these requirements.

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