The Business Exchange Swindon & Wiltshire Edition 37: June/July 2018 | Page 8

WHAT TO LOOK FOR IN A PROFESSIONAL SERVICES COMPANY In 2017, Optimum Professional Services was founded, breaking the mould of the traditional professional services companies by combining - for the first time in this area – accountancy and legal services all under one roof. Here, CEO Richard Mathews looks at how Optimum supports its client base of businesses, people and families, and suggests what business owners and directors should be able to look for in a professional services provider in the future: 1. Experience When selecting a professional services adviser, look for experience. Although only formed in 2017, Optimum brings together a team of accountancy and legal professionals who between them have decades of experience. The accountancy team comprises specialists who can advise on everything from starting up, through business development, to exit planning. On the legal side, the team – led by Mary Hoffman – are career specialists in property law, wills and conveyancing, and can help businesses with everything from commercial leases and contracts to landlord and tenant issues. 2. Range By providing a range of services, as we do at Optimum, clients benefit in a number of ways: • the service is seamless, as we are all under one roof • it is more efficient, as we are working together rather than sending work out to another provider • it’s more cost effective • it’s more transparent. There are many occasions where the accountancy and legal team work together for one client. For example, when businesses are bought and sold – as in a recent case with a shop owner; here, the accountancy team supported the sale of the business and the legal team carried out all the necessary requirements with the lease and landlord. 3. Being up-to-date There are many challenges that face businesses, one being Making Tax Digital. This is the initiative under which HMRC plans to make fundamental changes to the way the tax system works, and eventually move to a fully digital system. The most significant change for businesses under Making Tax Digital will be the filing of Returns every quarter. Although the pace of introduction of MTD has been amended, it’s still very much on the horizon. Businesses will now be mandated to use the Making Tax Digital system from April 2019 to meet their VAT obligations. This will apply to businesses with a turnover above the VAT threshold - the smallest businesses will not be required to use the system immediately, although they can choose to do so voluntarily. Thereafter, all businesses including those below the VAT threshold and landlords will be brought under MTD and we expect it to be fully introduced by 2021 at the latest. MTD requires having the right systems and software in place to enable businesses to be compliant. From the start, Optimum has been proactive in anticipating MTD, and our accounting systems were set up specifically to cope with quarterly reporting. 4. Dynamism and growth At Optimum, we are listening to what our business and individual clients want and are responding to their needs. This is why we have strengthened and added on new services. Mandy Gibson joined us as tax supervisor, to strengthen the tax services we offer clients; Lisa Hilton recently came on board to head up our payroll department, and we plan to expand these sections further. On the legal side, we have strengthened the wills and probate team with the appointment of experienced solicitor Alison Griffiths. Since we set up, we have taken over accountancy firm Reeves & Co, and the team has expanded both on the accountancy and the legal side to meet increasing demand and a growing customer base. For more information about Optimum Professional Services, based at Windmill Hill Business Park, visit the website or contact them on the details below. 01793 538198 [email protected] For more info: www.optps.co.uk 5. A great service Above all, we pride ourselves on offering a personal, bespoke and efficient service to our clients. Many have been with the team members for years; on the property side, Mary is supporting house sales and purchases for the same clients for the umpteenth time. We’re a growing, passionate and committed team who represent the future of professional services in Swindon and the surrounding areas. WORK - MEET - EVENTS - CAFÉ Pictured (from left to right): Mandy Gibson and Lisa Hilton –– Be part of the innovative south-west business community at Hartham Park MAKE HISTORY 01249 700 000 Harthampark.com Corsham, Wiltshire Just off M4 Junction 17 8 THE BUSINESS EXCHANGE 2018