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Award-winning accountancy firm, Lamont Pridmore, is educating businesses on the benefits of cloud accounting as the UK prepares for significant change to taxation.
Over the last year, Lamont Pridmore has been hosting a wide range of fully-integrated cloud accounting solutions to help businesses prepare for the challenges ahead under the Government’s Making Tax Digital (MTD) plans.
With businesses earning above the VAT threshold of £85,000 expected to begin storing tax information online and sending quarterly digital reports to HMRC for VAT purposes from April, Lamont Pridmore believes that businesses ought to get up to speed with cloud accounting sooner rather than later.
Graham Lamont, Chief Executive at Lamont Pridmore, is a member of the national MTD Taskforce at the Institute of Chartered Accountants that has been helping other accountancy practices across the UK set best-practice on MTD.
He said that online accounting services were perfect for businesses that wanted to get to grips with cloud services ahead of the April deadline.
“The various systems on offer can help businesses to store all of their tax and financial information in one safe location, and to understand the up-to-date performance of their business in real-time, and collaborate more closely with their accountants,” added Graham.
“By accessing their accounts on the move via smartphone apps, business owners can enjoy significant time savings – and our expert team can communicate with them via the platform should any problems arise, and make them aware of new opportunities.
“But for those clients who do not wish to continue their own bookkeeping and accounting records using new software, Lamont Pridmore has developed processes and procedures to take over these functions, on their behalf, at very competitive prices.
Chris Lamont, a Partner at Lamont Pridmore, added: “Furthermore, our team only use certified online software with bank-level security and 24/7 customer support, which means that they have the confidence to fully utilise this innovative technology.
“We are already working with a number of local businesses on migrating their systems in time for Making Tax Digital, and are ready to help more.”
Further information about Lamont Pridmore is available by telephoning 0800 234 6978 or emailing info@lamontpridmore.co.uk
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