Investment Company Pours Money into Online Accounting Firm in UK

Milestone Partners, a private investment company, has invested a “significant, but undisclosed” amount of money into an online accounting firm in Newby Hall, Ripon, England, BDaily reported. Clever Accounts offers access to a free online accounting system, overseen by an accountant, allowing clients to manage their finances easily with support and advice available by phone or email. The company takes care of all annual reporting, tax compliance, VAT returns and payroll, for a variety of small businesses and individuals, as well as providing ongoing tax advice and business support. “The investment will enable Clever Accounts to move on to the next stage of its development, expanding the scope of its work, growing its customer base and increasing its staffing levels,” says Matthew Smith, an associate at Dickinson Dees, the law firm that assisted in the deal.