Leading Scottish tax and business advisory specialists, EQ Accountants LLP have been awarded the highest possible commendation for their commitment to service innovation and staff development.
With just over six months to go until stringent new ‘Making Tax Digital’ legislation comes into effect across the UK, EQ has been awarded the status of Xero Platinum Champion Partner, having previously held ‘Gold’ status.
Xero is Britain’s leading online accountancy software, one of many used by EQ’s Amber accounting department. Its dedicated Virtual Finance Office (VFO) offers expertise and support to clients’ day-to-day financial controls, allowing them to focus on their key business objectives.
The award is particularly timely with the stringent HMRC rules coming into effect from April 2019, requiring businesses, including sole traders and landlords, to keep their accounting records using computer software. Such systems will then automatically update HMRC on a quarterly basis, with relevant data on their business income and expenses. From April 2019, business and landlords with a turnover above the VAT threshold (currently £85,000) will require to comply, with other businesses likely to follow from 2020.
This year, EQ has already succeeded in moving over 100 clients onto Xero in preparation for the April deadline, from sole traders working from home to businesses working across different countries.
Scott Kennedy, Manager of Amber in Forfar said, “We are delighted to have achieved Platinum status which reinforces our expertise in cloud accounting, an innovation which will shortly become more relevant when ‘Making Tax Digital’ commences.
“Through Xero, we can innovate our approach and better support our clients’ accounting needs as they approach these new legally binding requirements. We can also take a more pro-active and interactive approach with our clients, allowing us to give management information and advice in a timely and responsive manner. By offering so much more than standard end of year compliance, we can build our existing relationships with clients and cement our role as their ‘go-to’ business advisors.”
Achieving the status of Platinum Champion Partner emphasises EQ’s ongoing commitment to service innovation and internal staff development, with team members across EQ’s offices in Dundee, Forfar, Cupar and Glenrothes maintaining their Xero accreditation.
Ellie Redfern, Xero Account Manager said, “I'm thrilled to announce that EQ Accountants have now become Xero Platinum Partners. This is a fantastic achievement which is down to their hard work, dedication and drive to embrace technology. Their knowledge of Xero and the wider app marketplace means they are able to advise clients on how to best use technology to become more efficient.” For more information on Amber, and how to prepare for ‘Making Tax Digital’, visit http://www.eqaccountants.co.uk/amber-accounting/
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