Our software development client recently made a substantial profit, which came with the expectation of a hefty Corporation Tax bill. As their dedicated accounting partner, we took proactive steps to reduce that liability and help them keep more of their earnings. Here’s how we made it happen:

Profit Carry Back

We offset this year’s profit against previous years’ losses, resulting in savings of £6,978.25.

SSAS Setup

We established a Small Self-Administered Scheme (SSAS) for retirement planning, which offered tax-free growth on investments and reduced their liabilities by £15,000. They could have saved even more by leveraging unused allowances but chose to limit their contributions.

R&D Tax Credits

By claiming R&D tax credits for their innovative work, we secured an additional £34,549.74 in savings.

We don’t just handle compliance tasks like bookkeeping, VAT, payroll, and tax returns. We actively seek out opportunities to add value through tailored tax strategies that align with our clients’ goals.

If you’re in IT or software development and want a proactive accountant who understands your industry, let’s connect and explore how we can support your growth.