Local Accountant makes a Capital Investment

capital investment

Cheshire-based accountant, Paul Austen Associates has made a heavy capital investment in their automated systems, to continue supporting their clients in light of new government legislation.

The European Union’s General Data Protection Regulation (GDPR) comes into force at the end of the month (25 May), allowing the public more control over how organisations use their data, and introducing hefty penalties for organisations that fail to comply with the rules.

The new system adopted by the accountancy firm has inbuilt data protection, and automation of several tasks which provides consistent compliance with the new GDPR legislation.

Meanwhile, HM Revenue and Customs has introduced a new initiative called Making Tax Digital, a scheme that ensures each individual and business has their own personalised digital tax account. HMRC’s aim is to modernise the tax system to make it more effective, more efficient and easier for customers to comply.

Paul Austen Associates has partnered with QuickBooks online, offering the service free with their compliance packages. The service enables automated invoice recognition which digitalises clients’ records, ensuring businesses meet with the upcoming requirements of the Making Tax Digital legislation.

Paul Austen explained,

“As the GDPR deadline is fast approaching, many business owners are frantically trying to get to grips with the new legislation. Here at Paul Austen Associates, our aim is to support small to medium sized businesses through these complex changes, which is why we have invested significantly into our automated systems, to make it a much easier transition.”

Whilst assisting individual and corporate clients in the management of their finances, Paul Austen Associates offers a full bookkeeping service, management reports and assisting and informing on payroll and VAT services.

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