Meet Ops Manager Mathew
Mathew Price our new Operations Manager, responsible for overseeing the day-to-day activities at our award-winning company HQ in Carmarthen, fills us in on his new role and the challenges our 5,000 clients face today.
Tell us a bit about yourself and how you got here.
It all started at Aberystwyth Uni when I studied for my (First Class Hons) degree and won Grant Thornton’s Prize for Auditing. I then worked at a Swansea accountancy firm and trained to become a Chartered Certified Accountant, joined LHP as a Senior Accountant and progressed to Operations Manager over the last couple of years. I’m grateful to LHP for the opportunities I’ve been handed here.
What is your day-to-day role?
Nowadays as the Operations Manager at our HQ in Carmarthen, I deal with limited companies, corporate audits and assist clients with tax efficiencies through corporate restructures.
I work mainly with limited companies and their directors, with a number of larger partnerships and sole traders on my portfolio. On a typical day, I might assist clients with queries surrounding tax-efficient profit extraction from their business and advise on incorporation and business restructuring.
Over the past 18 months due to rapid changes in the business environment, I’ve assisted clients in acquisitions, tendering, minimising impacts of Brexit and helped SMEs establish venture capital schemes like the Enterprise Investment Scheme. I work with clients across a range of sectors, industries, and locations. From your local construction company up to large online clothing brands like Rugby Warfare and London based companies such as health and fitness brand TRTLE.com.
How do you help solve problems and challenges?
The key to solving client problems and challenges is first ensuring I fully understand their entity, environment and circumstances, plus the challenges they face. From an initial consultation with new clients, I make it my business to gather as much information as possible on the company to put myself in the client’s position.
Once I’ve grasped a deep understanding of the business, I go about tailoring the approach to meet goals. In the event of needing specialist advice, I might set up an internal team to help with any complex issues. We’ve over 40 team members in our HQ alone ranging in experts on tax and accounts, to agriculture, payroll and chartered tax to name but a few of our services.
Currently for many businesses, challenges revolve around Covid recovery. Many not just in Wales but around UK, have seen the knock-on effects of Brexit and lockdowns. Things like increased prices on raw materials, packaging, fuel, and wages. To continue to navigate through these difficult times, businesses need up-to-date financial information on their position and performance so they can take hold of the changes needed for future success. In other words they need to do digital accounting now.
What are the benefits of using LHP would you say?
LHP is at the forefront of cloud accounting, we won an award just last week – ‘recognised cloud accounting leaders in Wales’. With cloud there are real-time information benefits with results available instantly. All up-to date results on company position and performance at your fingertips, which is especially important when raising finance to grow and invest.
Cloud based software shifts perspective from a reactive historic view to a proactive real-time view. It allows you to better adapt, develop and thrive. One lesser considered benefit is the freedom of location, this has been especially important in recent times with blended work environments. Clients now have more choice and with accounting software like Xero and online meetings using Zoom, you can literally be working from anywhere!
Flexibility at work is especially important to businesses today and LHP works perfectly to this need. While other accountants struggled through lockdown to stay open, LHP thrived. We continued to service clients, assisting them through difficult times, one of the reasons why we have grown so much as a company recently, acquiring two new offices in 2021 and expanding our core team and services.
Advice for businesses regarding HMRC’s Making Tax Digital deadline?
It’s important to choose the right software for your business and to match to circumstances and personal preferences. There’s whole range of Making Tax Digital compliant software out there, choosing the right one is often daunting, but it’s something we can help with easily.
As important as right software is choosing the right team to help you transition to digital accounts. It’s vital to choose accountants with the knowledge, experience, and proven track record in helping clients make the switch. LHP is a Platinum Xero Partner and leading cloud-based specialist in South Wales. We’ve dedicated countless hours of free training to ensure clients are up to date with latest developments and use of software.
How do you relax when not doing this work?
I like to keep active and read and listen to music…of course spending time with my wife Natalie is up there too!
If you are a business, needing help with the switch to Making Tax Digital deadlines or any other accounting or business support, feel free to contact team LHP. Let’s talk.