At Manchester Digital, we like to interview our members to find out a bit more about what they do and their work in the Greater Manchester digital and technology sphere. This week, we're speaking with John McCaffery, Tax Partner and Head of Tax at Alexander & Co.
Can you tell us more about Alexander & Co's journey over the past five decades and what sets you apart as business advisors in Greater Manchester?
The single most important factor which sets us apart from many other firms is that we have remained independently owned. This is unique today, where many accountancy firms are being sold to private equity firms.
Being independently owned, we understand what it means to own and run a business, the difficulties and the challenges clients face. Equally important, we can place more resources on client care and developing our teams to better serve our clients’ needs.
Our focus is, and always has been, on serving the needs of entrepreneurial owner-managed businesses. Our offering is unique; we specialise in servicing this area of the market which is not well represented or understood.
We provide a comprehensive and in-depth range of advisory and compliance services to owner-managed businesses and entrepreneurs which require broad and technically excellent, innovative advice enabling them to make informed decisions.
As specialists in accountancy, taxation and business advisory services for the digital sector, how do you stay ahead of the curve in such a fast-evolving industry?
We stay ahead by investing in our team and infrastructure to enable us to provide the best possible service for our clients. It is also important that we understand the sectors we work in and are genuinely interested in the work our clients undertake.
We are also a firm which never rests on its laurels. We are always looking at new and evolving areas where we can assist clients, add value to our offering and embrace technology.
Through spotting the need for crypto tax advice early, we developed a specialist team which is now one of the leaders in its field in the UK. We have already developed plans and processes for Making Tax Digital for Income Tax, which roles out in April 2026. This has the potential to affect many sole traders in the digital sector, so early advice is crucial.
R&D tax is complex, with HMRC increasing its enquiries into claims. Providing specialist, fully qualified advisors to assist here, who understand this area and, equally important, the sectors they are working in, ensures robust advice and strong claims. We have undertaken many successful claims for businesses in the digital sectors and we recommend anyone with any uncertainty regarding an existing or potential claim discusses this with us.
We continually review our internal digital offering and processes to ensure best practices and services for our clients.
What impact have you seen your work have on the creative, media, and technology businesses you advise, and can you share a recent success story or milestone?
The needs of entrepreneurial businesses change as their businesses evolve and develop; this is especially so in the digital sector. This is built into our DNA; we advise them on all stages of their business journey.
Importantly, we focus not only on the requirements of the business, but also the personal requirements of the business’s owners and key stakeholders. Ensuring that their personal objectives are planned for effectively, as these evolve alongside the business.
We provide robust advice that business in these sectors can rely on. We assist clients on their growth journey and grow with them. Clients don’t outgrow Alexander & Co; we can assist them on every stage of their journey.
We have worked with many businesses, from start up, through fast growth cycles to advising on mergers, sales and business exits.
This year, we assisted with one of the first IPOs on the London Stock Exchange of 2025. This raised £6.15 million at a valuation on £18.2 million.
Here, Alexander & Co had provided tax advice to the firm since its inception in 2020 as a small company. We assisted the firm throughout its growth, including personal tax planning for its directors and providing specialist R&D advice.
We also advised on a growth share plan for an employee. Additionally, due to the structure of the company, we provided advice on any risks resulting from IR35.
For the IPO, we provided tax due diligence; this included advising on the availability of Business Asset Disposal Relief and undertaking tax modelling based on different valuations. We also advised on the structure of the IPO ensuring it was undertaken in the most tax efficient way possible.
This is an example of how we assist clients through their growth journey.
Another example is how we saved a client £750,000, correcting incorrectly submitted tax returns for crypto transactions. Our client had traded crypto for four years before he approached us. As his previous accountants had incorrectly calculated his tax, he sought an experienced crypto tax advisor that understood the tax treatments of different crypto assets.
Our detailed analysis confirmed that our client’s gains over the four tax years had been incorrectly overstated. By providing all relevant information to HMRC to amend these returns, the tax liability was reduced by c. £750,000. If it were not for Alexander & Co’s extensive knowledge of crypto taxation, these discrepancies would have gone completely unnoticed.
How do you view your role in Greater Manchester's vibrant tech and creative ecosystem, and what excites you most about the region's future in these sectors?
Manchester is the UK home to digital outside of London. I am sure it is no coincidence that Benjamin Disraeli infamously said: "What Manchester does today, the world does tomorrow." Manchester has always been at the forefront of innovation. It is exciting how far it has come, and how it continues to lead.
We have, for many years, been providing robust solutions for clients in this area. Importantly, we understand these businesses, how they operate, the pitfalls and the difficulties they can face.
For clients in this area, we are a vital extra pair of ears and listen to their financial concerns (and assist). Being a business owner can at times be isolating. Alongside providing professional advice, we are also there for our clients as someone they can sound out their ideas, to discuss their worries and be an extra shoulder to lean on. Many business owners may not be able to discuss their business concerns with others in the business or be able to take their worries home. Here we can play a significant role, ultimately helping them succeed.
What advice would you give to entrepreneurial businesses in the digital sector looking to grow and adapt in today's challenging environment?
An age old saying, but ‘Cash is King’ and this remains the case. Many profitable businesses have become undone because of cashflow issues.
Take an interest in your business’s finances from the outset and ask your accountant/tax advisor lots of questions. Your advisors are there to advise; make sure they are doing so in a proactive way. Whilst this may sound obvious, many owners of entrepreneurial businesses are so focused on their day-to-day work, that they take their foot of the peddle when it comes to understanding their finances. This can include what it means to grow, especially those on a fast-growth path.
Whilst we continue to provide the holistic advice and support to help entrepreneurial businesses grow, and have been doing so for five decades, ask yourself “are you getting the advice you need from your advisor?”
Thank you John!
To find out more about Alexander & Co click here.
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