Tax Systems - Bowmark Capital

Investment March 2019

Business ModelSoftware

Business Tax compliance software

Growth StrategyOrganic Accelerators Digital Transformation

Why we invested

The aim of HMRC’s “Making Tax Digital” is to improve efficiency and make it easier for businesses to “get their tax right”. The initiative is driving changes in the way companies report their tax positions, starting with VAT and to be followed by corporation tax and income tax. As the established leader in corporation tax software in the UK and Ireland, Tax Systems was uniquely positioned to capitalise on these market opportunities and to drive the digitisation of tax reporting.

Number of customers

>1,500

The result

During our investment period, Tax Systems developed the UK’s leading, cloud-native, multi-tax technology platform, and doubled its revenues and profits.

Continued investment also enabled the company to expand its global tax product suite – including launching AlphaVAT, a new compliance and workflow product for value-added tax, and Pillar2, an AI-powered SaaS solution for global Pillar Two compliance and reporting. The company also extended its international presence, including acquiring TaxModel, a pioneering Dutch company specialising in innovative tax technology.

In March 2025, Tax Systems was acquired by Providence Equity Partners.

We have enjoyed an excellent and rewarding partnership with Bowmark, whose support has been instrumental in strengthening our position in core markets, expanding our product suite, and successfully entering new geographies Bruce Martin,CEO