We help creative and technology entrepreneurs who would like to run a business that generates recurring revenue without sacrificing their family time but also make an impact. 

Our Expertise

Accountant in Cambridge providing Business Planning support for startups

Creative Agencies

We help creative agency businesses owners scale their business while building a retirement plan

Startup Accounting

Technology Startups

We help technology startups kick off the ground and attract investors

Accountants in Cambridge providing Research and Development Tax Relief

R&D Tax Relief

We have claimed milloins of pound for our clients as R&D tax credits


Watermill Accounting interviewed on Cambridge TV Business Focus

See what our clients say

Managing Director



DZP Technologies Ltd.

 R&D Tax Credits

Get £33 for every £100 you spend on R&D

Accountants in Cambridge providing Research and Development Tax Relief

Get peace of mind when claiming R&D tax credits as we will take care of any HMRC audit.

Our Cloud Accounting Partners

Quickbooks Accountant

We are members of


Recent Awards


Watermill Accounting has proved to be an invaluable partner for us over the past 12 months. Patience in explaining accounting processes we transitioned between ERP software and guidance to maximise opportunities offered through R&D tax credits have made the management of these areas considerably less stressful and more fruitful than they would have otherwise been. There was a lot of cleaning up required concerning our historical accounting; Watermill took this in their stride.

Julian Dudley Smith

Fluenta Solutions Limited

Watermill Accounting has been instrumental in helping set up our UK office and in drafting the financials for the acquisition of Intellectual Property in the UK. We have now outsourced all our bookkeeping, payrolls and R&D tax credit claims work to Watermill who has also been handling all our accounts and all compliance related work with regards to HMRC. Watermill is a conscientious accounting firm and has been quick and efficient throughout our association with them.They have a good team and are very accommodative.

Paresh Parekh

Director, Autofina Limited

Having been a career civil servant before starting my own business I had never had need of an accountant, so I was uncertain what to expect when I employed Watermill. I have been very impressed by the tailored and diligent service they have offered me. They talked me through what I needed to know about tax with great clarity, and my tax return was completed well within the deadline and accurately. To cap it all Watermill succeeded in getting me a substantial tax refund which I had no idea I was entitled to. They know their stuff and are a pleasure to work with.

Warwick Hawkins

Faith in Society

Watermill Accounting initiated the idea for us to recover R&D tax credit, which our previous accountants had failed to make us aware of. To date we have recovered nearly £50,000, which has been invaluable in terms of cash flow, continuing to develop our R&D, employ additional consultants and strengthen our core business. We have found Watermill to be courteous, very professional and timely in the provision of advice, submitting and winning refunds on our behalf.

Matthew Turner

Goshawk Communications

Upcoming Event

Accounting & Finance for Entrepreneurs

Wed, 29th June 2022, 2 PM – 3 PM


An essential workshop for Entrepreneurs and Startups

  • Cash Flow
  • Grants and R&D Tax Credits for Innovation
  • Profit & Loss and Balance Sheets
  • Limited Co vs Sole Trader
  • Due Dates and Taxes
  • VAT
  • Workplace Pensions

The event includes a Q&A, refreshments and opportunities to network.

Contact Us

Watermill Accounting Limited

Future Business Centre

Kings Hedges Road



Phone: 01223 781290