Professional and business services (PBS) are a significant contributor to the UK economy. Generating some £300 billion in 2024 and contributing one in seven UK jobs, its scale makes the UK the second largest exporter of PBS globally.
Prioritised as a high growth sector in the government’s Modern Industrial Strategy, it is poised to grow further. Innovation incentives, including R&D tax relief, capital allowances, grants and Patent Box, are key to supporting this journey.
For PBS businesses seeking to partner with a trusted adviser on their growth journey, ForrestBrown has the perfect blend of skills to help you. Whether you’re a legal or accountancy consultancy creating software efficiencies or an engineering practice developing new solutions, we can support your funding strategy.
Professional and business services: a priority growth sector
The Modern Industrial Strategy promises to accelerate growth in eight key UK sectors with the “highest potential”, including professional and business services.
With the global PBS market forecast to grow to 2035, the government hopes to strengthen the UK’s position and increase its share of global PBS trade and inward investment. It has committed over £150 million in transformative programmes to increase technology adoption and innovation in PBS.
Opportunities for innovation
From artificial intelligence to cybersecurity and data privacy solutions, PBS firms are breaking new ground. Here are a few examples of how:
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Artificial intelligence
Development of new tools to help analyse legal documentation, reducing the time taken to undertake due diligence. -
Cybersecurity and data privacy solutions
Development of secure systems to protect sensitive client data, including encryption, access control, and real-time monitoring of threats. -
Intelligent workflow automation
Development of platforms that automate complex professional service processes, such as compliance checks, approvals, and reporting workflows. -
Simulation and scenario modelling tools
Development of systems that allow firms to model different business scenarios and test strategic decisions before implementation.
How ForrestBrown can help
As the UK’s leading R&D tax adviser and innovation incentives specialist, we bring a wealth of expertise to your project to help you unlock opportunity. Whether you’re a scaling SME or large multinational, ForrestBrown will help you make decisions with confidence and clarity. This enables you to secure financial benefit and strategic value.
Katy Long CTA CA
Director
Katy Long CTA CA
Director
- Qualified chartered tax adviser and chartered accountant.
- Experienced working with portfolio of large companies.
- Expert in R&D tax policy and legislation.
Expertise & specialisms
- R&D tax policy
- Overseas R&D rules
- Merged scheme
Beginning her career with a Big Four firm and gaining experience across a range of auditing and tax roles, Katy has specialised in R&D tax relief since joining ForrestBrown in 2019.
During a time of unprecedented change, Katy has led ForrestBrown’s approach to key policy developments including restrictions on overseas R&D activities and HMRC’s introduction of an additional information form. This has included liaising with HMRC, delivering internal training and providing insights to clients.
Clients working with Katy benefit from her commercial mindset and deep knowledge of R&D tax relief, including how it can work alongside other innovation incentives. She works with a range of established SMEs and large businesses in sectors including manufacturing, financial services and aerospace, where she is a trusted adviser on the RDEC incentive.
Katy co-authored the Tolley’s Tax Digest on R&D tax relief and has contributed articles to publications including Taxation and The CFO.
Ben Wyatt LLB
Senior Technical Manager
Ben Wyatt LLB
Senior Technical Manager
- Expert in a huge range of developer and cloud technologies.
- Over 15 years agency experience working across many sectors.
- A dedicated resource at ForrestBrown for uncovering digital innovation.
Expertise & specialisms
- Web design and development
- Cloud technologies
- Digital awareness
- UK law
Ben is a digital expert at the forefront of tech trends. A digital sector specialist at ForrestBrown, his extensive knowledge is invaluable to our clients who are pushing the boundaries of innovation.
He began his career as a law and philosophy graduate in publishing, but quickly developed a keen interest in web development and software engineering. At the time he was working for family law publisher, Jordan Publishing, but subsequently moved from there into the world of digital agencies.
Since then, Ben has amassed more than 15 years of digital agency experience, some at general agencies; others specialising in sectors such as travel and product development. These include 3Sixty, Bray Leino, Cognizant and AKQA.
With experience as a full-stack developer and technology director, Ben has mastered a wide range of development frameworks and tools. He has worked extensively with content management systems, modern web technologies, and responsive design principles.
Ben has also developed expertise in cloud platforms and infrastructure as these technologies have emerged. In his senior roles he has led teams of developers and been involved in wider business management.
His extensive experience at agencies has led him to work across many sectors, including legal, transport infrastructure, entertainment, homebuilding and ecommerce.
Ben’s expertise is tremendously valuable to our clients at the cutting edge of digital innovation. He works directly with them and our R&D tax practice to uncover all qualifying innovations for robust R&D tax credit claims.
Luke Sturgess-Durden MSc
Technical Manager
Luke Sturgess-Durden MSc
Technical Manager
- Over 20 years’ experience in software engineering.
- Former CTO who has worked in many fields at startups and multinationals.
- Worked in FinTech and Healthtech.
Expertise & specialisms
- Web and mobile
- Database engineering
- Cloud technology
Luke has been a leader in tech innovations since the early 2000s. After studying mathematics, computing and education at the Universities of Oxford and Bath he taught maths and IT for several years before embarking on a career in software engineering.
Luke has worked for several start-ups, some of which have gone on to become successful enterprises. He has amassed experience in the HealthTech and FinTech sectors, developing systems used nationally by the NHS and working on an innovative Tax Pooling platform used in New Zealand.
In many of his roles, Luke has been the ‘Competent Professional’, submitting many R&D tax claims for his innovative, ground-breaking work. A recent position saw Luke leading development on a number of high profile projects for Google, Meta and The Home Office.
Luke is always striving to stay ahead of the game with the latest advances in the field of software engineering and technology. He has worked with most of the major tech stacks and cloud computing providers and takes a great interest in blockchain, quantum computing and AI.
Luke joined us from JP Morgan where he worked on the unification of their internal management platforms, which handle millions of requests a week from over 300,000 employees. He is a certified ScrumMaster and appreciates the benefits of using agile practices like Test Driven Development and Continuous Integration/Deployment to facilitate the bringing of new R&D projects to market.
Jayne Stokes FCA
Associate Director
Jayne Stokes FCA
Associate Director
- ACA qualified.
- Former director at a Big Four firm.
- Advises businesses on R&D tax relief, Patent Box and tax disputes.
Expertise & specialisms
- HMRC enquiries and tax disputes
- Accounting
- Patent Box
Jayne is an experienced chartered accountant with Big Four experience, who has worked in both the UK and Middle East. She is a senior adviser in FB Consulting, ForrestBrown’s specialist tax advisory service, as well as leading on the delivery of Patent Box claims for clients.
Jayne joined ForrestBrown in 2020 and brings a wealth of experience in leading complex tax advisory projects, which helps her provide invaluable advice to our clients. She also plays a key role in assessing and managing tax risks and leading client relationships with HMRC.
Drawing on her science background, she takes particular interest in the pharmaceutical and medical sectors. In her role with ForrestBrown, Jayne is focused on developing our advisory services to help more businesses across the UK benefit from R&D tax relief. This includes working with clients and accountants to create robust claims and providing strategic advice or specialist support should HMRC open an enquiry.
After completing a Master’s degree in Chemistry from the University of Sheffield, Jayne began her career with Deloitte in 2006. She was based in the entrepreneurial business tax practice and studied for her ACA qualification.
In 2010, she moved to Dubai to help establish Deloitte’s international tax practice for the Middle East region. She managed a diverse portfolio of clients including large multinationals, owner-managed companies and startups.
Peter Reynolds ATT (Fellow) ICIOB
Partner – Capital Allowances
Peter Reynolds ATT (Fellow) ICIOB
Partner – Capital Allowances
- Leads ForrestBrown’s support for clients relating to capital allowances.
- Over 20 years’ experience working with businesses on asset taxation issues.
- Background in project management in the construction sector.
Expertise & specialisms
- Capital allowances and tax depreciation
- Fixed asset reporting for tax and accounting
- Cost segregation analysis for property investments
Peter specialises in capital allowances and leads ForrestBrown’s support for clients who buy, sell or incur expenditure refurbishing commercial property to optimise the tax reliefs available.
Previously a tax partner with a top 10 accountancy firm, Peter joined ForrestBrown in 2023. His in-depth knowledge of capital allowances provides further support for the innovative businesses we work with, helping to ensure they are fully rewarded for their investments.
Having started his career in the construction sector where he managed high profile projects throughout the UK and Europe, Peter combines a wealth of industry experience with technical tax knowledge to deliver pragmatic advice backed up by a deep understanding of how buildings are put together.
This mix of direct industry experience and technical tax expertise also enables Peter to structure fixed asset programmes that translate effectively for tax and accounting purposes. His approach delivers consistent, accurate information to financial teams, removing the risk of misinterpretation.
Peter draws on his experience working with FTSE100 and multinational companies across sectors including hospitality, retail, engineering and manufacturing to support ForrestBrown clients with tax reliefs relating to their investment in commercial property. Working alongside our grant advisory team, he also supports multinational businesses considering inward investment in the UK.
Tom Jones ATT
Director
Tom Jones ATT
Director
- Leads client-facing teams in ForrestBrown’s R&D tax practice.
- Association of Taxation Technicians (ATT) qualified.
- More than 15 years’ experience in tax and trained at a Big Four firm.
Expertise & specialisms
- Changes to R&D tax relief
- Team leadership and talent development
- Compliance risks with overseas staff
Tom is an ATT qualified tax professional who trained at a Big Four firm and brings more than a decade of experience to the team. He leads client-facing teams in ForrestBrown’s R&D tax practice.
Before joining us in 2016, Tom was part of the global mobility team at PwC where he worked with a range of clients from fast-growth SMEs to large multinationals. He also helped organisations manage tax and compliance risks when sending staff overseas or into the UK.
Tom originally joined us as a tax manager, before progressing to director in 2022. One of the first people to graduate from the ForrestBrown Learning Lab, Tom now leads teams that support companies in preparing robust R&D tax relief claims to achieve the full benefit in line with HMRC’s compliance measures.
As well as leading a team of qualified tax advisers and accountants, Tom can also call on sector specialists with industry experience to ensure effective project descriptions are provided.
Tom builds long-term relationships with clients to understand their innovation and how it contributes to business objectives. This enables him to provide clear, practical and timely advice to clients, optimising R&D investment while reducing financial risk.
R&D tax relief for professional services
ForrestBrown’s award-winning team can provide end-to-end management of your R&D claim, including eligibility assessment, submission and liaison with HMRC. We can also support you with establishing and reviewing your in-house R&D claim capabilities, as well as providing an objective assessment of your last claim. This confidential review will determine whether there are any missed opportunities to optimise value, while also identifying potential risks.
Our tax experts work seamlessly with our industry-experienced sector specialists to review the scope of your R&D. We have technical expertise across a range of PBS frontier and adjacent industries, including artificial intelligence (AI), software development, engineering, real estate and construction. This allows us to accurately quantify the value of your R&D and translate its technical nuance to HMRC.
Grants
PBS companies are eligible for competitions such as the Growth Catalyst. Round 3 is expected to open in summer 2026 and will be relevant for PBS firms developing a deep-tech innovation that involves AI.
ForrestBrown’s experienced grant advisory team is ideally placed to help identify any relevant grant opportunities for your business. From horizon scanning and feasibility assessment, to application review and project management, we have the skills and expertise to support you.
Stay up to date with relevant grant opportunities by signing up to our dedicated newsletter, GrantScan.
Patent Box
New products or processes are often patented allowing the inventor to enjoy a period of exclusive commercial use. For patent owners, Patent Box relief – a Corporation Tax (CT) relief on patented products or processes – can be a valuable incentive, that reduces the CT rate on qualifying IP income to 10%.
Our experienced Patent Box team can support you with your claim and make sure that you’re making the most of the incentive.
Capital allowances
If you’re fitting out commercial space, why not explore your eligibility for capital allowances relief? It can bring significant cash flow benefits for any eligible capital expenditure, such as plant and equipment.
Our capital allowances team, led by Peter Reynolds, has considerable experience working on asset taxation issues, as well as in the construction industry. That perfect combination of industry experience and technical authority enables ForrestBrown to deliver practical, actionable advice to support your business.
Location strategy
While London is home to the biggest concentration of PBS businesses nationally, regional centres offer strong clusters. Leeds for example, is home to a Business, Financial and Professional Services cluster, making it one of the largest financial centres outside London.
With such an array of locations on offer, it can be difficult to determine where your next investment should be. Our location strategy experts can help you to evaluate which geographic region will work for you, by considering a range of factors including the availability of talent and availability of location incentives.
Holistic advice for forward-looking businesses
As the professional and business services sector grows, businesses will need to adopt a strategic approach to claiming incentives. Partnering with a trusted adviser that can take a holistic view and advise across the full innovation toolkit will be key, unlocking opportunity to support what’s next.
Examples of professional and business services firms advised by ForrestBrown
Management consultant
This management consultant developed a new finance tool that combined different sources of information and used regression, time-series analysis, and portfolio-style simulations to understand how retail and institutional sentiment interacted. The R&D focused on overcoming platform restrictions and real-time scalability.
Benefit: £10k
Recruitment company
This recruitment company developed an AI-driven CV parsing and matching platform so it could compare outputs from multiple parsers and pick the best result rather than relying on a single engine.
Benefit: £50k
Business intelligence platform provider
This software company developed a data platform to help management teams analyse performance by combining financial and operational data over time. The R&D focused on enabling complex data interrogation while preserving a clear audit trail of how underlying data changes.
Benefit: £200k
Ready to discuss your funding strategy?
With over a decade’s experience partnering with forward-thinking businesses to unlock innovation incentives and reliefs, ForrestBrown has the skills needed to support your future funding strategy.
By providing market-leading, holistic advice, we ensure that your business can claim with confidence, knowing that all value has been captured and risk managed.
If you would like to discuss how to maximise your innovation funding strategy in professional and business services, get in touch.
- Telephone
- 0117 926 9022
- hello@forrestbrown.co.uk