Online Accounting Firm Xero to Open Manchester Office
Cloud accounting software provider Xero has announced plans for its first office in the North of England, with a Manchester site set to open in November.
The New Zealand company, which already has offices in Milton Keynes and London, says that it will create up to 40 jobs in Manchester by early 2020.
Xero has experienced rapid growth in the UK. The online accounting company saw its UK subscribers increase almost 50% to more than 463,000 in the year to 31 March 2019.
Targeting small and medium sized businesses with its innovative cloud-based system, Xero already makes £40m in revenue in the UK. And with legislative changes to Making Tax Digital on the horizon, the number of small business customers is likely to increase even more rapidly.
Xero co-founder and Managing Director Gary Turner said: “With the growth we are experiencing in the UK, a new office opening is the logical step to ensure we are best placed to serve our small business customers and accounting and bookkeeping partners.
“With more and more small businesses and their advisors using Xero, it was clear we needed to expand and Manchester is the perfect fit for us. It has a vibrant tech scene buzzing with entrepreneurs, academic strength, as well as strong transport links.
“The city gives us a great opportunity to attract the best talent as we start recruitment here.”
Making Tax Digital is a HMRC initiative designed to make the tax system easier and more efficient for taxpayers. From this year, businesses with revenue over the £85,000 VAT threshold have been required to keep digital tax records and submit VAT returns using HMRC-recognised software like Xero.
While it currently only applies to VAT, Making Tax Digital will eventually be rolled out across other taxes, forcing more businesses to use digital accounting software.
Online accountancy software like Xero is best used with support from an online accountant like Cloud Accountant. Because Xero stores your financial data in the cloud, it means that your online accountant can log in remotely to review your data and offer help, advice and other support.
To learn more about Cloud Accountant’s Xero services, speak to a member of the team today. Call: 0808 281 0303.