PEM’s business tax team has seen firsthand that technology adoption is not about chasing every innovation. It is about intentional implementation that genuinely improves outcomes for clients or colleagues. This human-centred approach has guided our own digital transformation, ensuring that technology serves our firmwide strategy, rather than distracting from it.
Surrounded by science and business parks, incubators and innovation centres, Cambridge continues to stand out as a global hub for technology, AI and scientific research. With world-renowned universities, pioneering companies, research parks and a vibrant startup community, Cambridge has been named the world’s most intensive science and technology cluster by the Global Innovation Index three years in a row.
It is also a place that PEM has been proud to call home for 150 years.
Technology-enhanced tax advice
For the startups and scale-ups attending and exhibiting at Cambridge Tech Week, tax efficiencies can often transform companies’ growth trajectories. At PEM, we are using technology to assist with tax computations for our clients and looking at AI to streamline our workflows. This frees up my colleagues’ time, experts across a range of specialist tax fields, to focus more on advisory work.
We are increasingly looking at technology to help identify clients who would benefit from certain tax incentives, including:
- Seed Enterprise Investment Scheme (SEIS) for startups, which offers 50% income tax relief.
- Enterprise Investment Scheme (EIS) for scaling up, which offers 30% income tax relief.
- Both schemes also enable investors to exempt and/or defer certain capital gains tax.
- Research and development funding and tax credits to encourage innovation.
- Share schemes and equity rewards that help people attract talent who benefit from value growth.
Additionally, we have seen businesses make real progress by structuring themselves correctly from the outset and technology will help us spot these opportunities faster than ever.
The human-tech balance
Technology and AI tools are improving the way we spend time looking at information. It is increasingly automating routine tasks like corporate tax returns. The technology is also increasingly interrogating our data, allowing us to support our clients with greater precision.
However, we remain deliberately cautious about over-reliance on AI. Complex tax computation and strategic advice from PEM requires nuanced expertise that only our 70-strong tax team can provide. It is this human, people first, insight we have built our reputation on.
As we look to the future, we believe technology must work together with people to provide better value and service to clients. A high-quality service means responsiveness, insight, expertise, and ensuring the technology identifies the clients we need to talk to. This means we can make deep, high-quality connections with our clients.
Our goal is to use technology as an enabler, amplifying our human expertise, not replacing it. Clients value authenticity, clarity and connection, which is why we invest in equipping our people to have meaningful conversations, supported by the right tools and insights.
Connect with our tax experts
During Cambridge Tech Week, I am really looking forward to meeting entrepreneurs driving innovation and breakthroughs and understanding how their ideas and businesses are making real-world change.
Whether you are a tech startup seeking SEIS benefits, a scale-up exploring EIS opportunities, or an established company eligible for R&D tax reliefs, our team combines local expertise with global reach. PEM offers the personal touch of a Cambridge firm with the resources of a global network. We’re an independent member of Kreston Global, consisting of 150 accounting firms across over 100 countries, offering a combined resource of 27,500 dedicated professionals.
PEM is poised to support innovative companies looking for standout, technologically capable advisers. If you’re attending Cambridge Tech Week and would like to know more about PEM’s accountancy, tax and advisory services, please get in touch with me.
Please note that this content is not intended to give specific technical advice. It is designed to highlight some of the key issues rather than provide an exhaustive explanation of the topics. Professional advice should always be sought before action is either taken or refrained from as a result of information contained herein.
