AIMS partners with Coconut to provide franchisees with MTD ITSA software
Coconut has partnered with AIMS Accountants for Business to provide thousands of MTD ITSA clients with compliant software! The accountancy franchise will recommend Coconut to their franchisees working with sole traders, unincorporated landlord clients, and CIS subcontractors—to ensure they’re ready for the move to digital in 2024.
We’re very excited to announce that Coconut is officially partnering with AIMS Accountants for Business!
The accountancy franchise will recommend Coconut to members of its network working with sole traders, unincorporated landlord clients, and CIS subcontractors, with a particular focus on those below the VAT threshold.
The partnership—which will give over 175 practices preferential software rates for 25,000 relevant clients—represents a major endorsement for Coconut’s MTD ITSA software, and a financial win for AIMS franchisees and their clients.
What is AIMS?
AIMS Accountants for Business has been running for 30 years and offers professionally qualified accountants the opportunity to start their own accountancy practice with the backup and support of AIMS central office and the AIMS network.
Benefits of membership include access to AIMS’ extensive technical, practice management and marketing support, as well as discounted rates on pre-vetted software and tools—like Coconut.
Jessica Rajwan, AIMS Accountants Head of Partnerships said: “We are really excited about this partnership with Coconut, which will offer a large proportion of our clients a very high-quality and cost-effective solution to meet their needs. We have been really impressed with the software itself; not only does it fit in well with the way that our accountants operate, it also enables them to work with clients more efficiently—which both improves the service they can give and opens up new opportunities for growth.”
Simon Lofts, Coconut’s Head of Growth added: “Millions of sole traders and unincorporated landlords will be impacted by MTD ITSA when it comes into effect in 2024—but these taxpayers are currently massively under-served by other cloud and landlord-specific software on the market.
Coconut fills the software gap by providing a tech solution that’s simple enough for your smaller clients to engage with, but powerful enough to streamline and optimise accountants’ workflows. And by partnering with AIMS’ extensive and highly-skilled network of accountants, we’re incredibly excited to provide a huge number of professionals with the tools they need to ensure that the transition to digital is as effective as possible.”
Immediate and long-term gains
With four months to go until the 2021/22 Self Assessment deadline, any AIMS accountants with eligible clients will be able to use Coconut’s software to streamline the collection and processing of client data in the upcoming tax season. The partnership will also prove critical as accountants and bookkeepers around the country seek out MTD-compliant software ahead of Making Tax Digital for Income Tax 2024.
Data from our recent survey showed that 57% of sole traders have expressed concern about the additional financial costs associated with complying with the new rules, and 62% said they were worried about the extra time that returns will take to complete. 21% haven’t heard of MTD ITSA at all.
Coconut’s focus on providing a cost-effective solution that’s simple for clients to use promises to make it as easy as possible for practices to digitise their clients as seamlessly as possible.
Get started with Coconut
Coconut is a simple app that helps your MTD ITSA clients stay on top of their bookkeeping all year round—by allowing them to connect their bank accounts, categorise their transactions, and capture receipts, bills, and invoices all in one place.
And through our Accountant Platform you’ll have instant access to all of their real-time accounting information, whenever you need it—helping you to:
- spend less time chasing paperwork,
- uncover opportunities to grow revenue, and
- prepare your clients for MTD ITSA without lots of training or process change
Keen to try out Coconut’s software for your own practice?
The best way to get a feel for the Coconut app and Platform is to book a short call with our team, in which we can show you how both work, and answer any questions you may have.
We’re also running time-limited deals for any practices who sign up to Coconut and invite their clients before the end of October 2022! Don’t miss out.
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