Novabook

The Accountant for Startups

[Novabook @Novabook_]

Set up your office sweepstake without all the admin --> https://t.co/SOtUBjHTZB

[Novabook @Novabook_]

Introducing the Supernova Sweepstake #WC2026

[Novabook @Novabook_]

The largest single fee most tech startups pay their accountant isn't for accounts, payroll, or tax returns.

It's for an R&D report ☹️ and there's no need to!

The model is simple:
Agency approaches founder, tells them they qualify, files the claim, HMRC pays out.

Then years later an investigation opens. The founder gets the bill. The agency already took their 10%-20% fee.

20% of a £60,000 refund is £12,000.

For most startups that's more than their entire annual accounting bill. Paid to someone who helped write a document. Probably with an LLM doing half the lifting.

To be fair - specialised agencies with PhD researchers translating genuinely complex technology for HMRC have a real place.

But that is not most claims.

HMRC is considering a new Advance Assurance model for R&D tax relief - closer to how SEIS/EIS works.

It would mean founders stop getting ambushed by repayment demands years down the line. And if they think through constraints on commercialising the applications, then the relief will flow back to the people actually building things.

The incentive in the current model isn't on getting it right. It's on getting it filed.

Stricter rules on firms profiting from taxpayer-funded applications are long overdue.

We charge £1,200 fixed. Every client. Every claim size.

Because taking a percentage of someone's refund for filing a document has always felt wrong to us.

If you want to sense-check what you're paying, message us or visit https://t.co/Pl7zqwrzRC

[Charlie 'Ramen Space’ Ward 🍜 (ramenspace.com) @charlierward]

👋 This month's event is brought to you by @Novabook_ - the accountant for startups. Built by exited founders who get the startup gig. From pre-revenue to £££, they'll help you sort bookkeeping, VAT, payroll & taxes without slowing you down or costing you much. Get in touch here. I use them myself: https://t.co/eNnsvz2f9w

[Novabook @Novabook_]

Here's how Volvo shareholders rejected 40% of Norway's oil reserves...

In 1978 🇳🇴🇸🇪, were looking to swap Volvo shares for a stake in Norway's continental shelf oil assets.

Volvo's CEO was in favour, but other shareholders thought Volvo was worth more. The deal crumbled.

And yet now, 10% of the production from this oil field amounts to 300 million barrels of oil. 🤯

The worst M&A call in history by $VOLV?