Sponsor spotlight: Shorts

Shorts are a progressive and growing firm of accountants and business advisers based in Sheffield and Chesterfield. Keen users of the latest technology themselves, Shorts specialise in advising digital businesses, looking after a number of prominent companies in the region.

Shorts’ Innovation Taxes Group specialises in helping digital businesses claim Research & Development (R&D) and Patent Box Tax Reliefs, specifically aimed at providing companies with tax incentives to innovate. Many digital businesses are not claiming or are under-claiming these reliefs and are therefore paying too much tax.

R&D Tax Reliefs give tax savings of £26 for every £100 spent on innovation by profitable companies as well as cash payments for those making losses. Patent Box Tax Relief allows profits arising from patented items to be taxed at an effective corporate tax rate of only 10%. Our Group members have successfully saved millions of pounds of tax for local businesses by preparing hundreds of claims for these tax reliefs; savings which are often reinvested in jobs and growth.

Tax reliefs for innovation present an unmissable opportunity for many businesses. The Government wants to see more claims being made and we are perfectly placed to help.

We also provide many digital businesses with meaningful management accounts on a regular and timely basis. Clients are left with an in depth understanding of their businesses’ finances from which they can confidently make well informed strategic decisions.

We use a market leading management reporting tool which produces monthly management accounts which come with easy to understand graphs and charts, as well as an individually tailored dashboard summary. By ensuring the management figures are produced each month to the same standard as the year end, the annual year end work is made simple, with no nasty surprises.

With Shorts’ commitment to ‘cloud’ based accounting, this sits perfectly alongside our use of Xero, for which we hold Gold partner status. Xero describe their products as “the world’s most beautiful accounting software”. The feedback from our clients is that it is much more intuitive than traditional accountancy software packages, enabling you to prepare your business accounts with a minimum of effort.