This week’s Q&A is with David Cox, Partner at haysmacintyre Chartered Accountants and tax advisors. haysmacintyre advise small and medium sized businesses and in particular are actively involved in assisting new start-ups. David acts for a number of start-ups including Duedil.
Who are haysmacintyre, and what does your day-to-day work involve?
haysmacintyre is a medium-sized firm of accountants based in Holborn, London, with 23 partners and about 160 staff. We act for a broad range of clients from new start-ups through to £150m multinationals. My day-to-day work is pretty varied; for example my diary this week looks like this:
Yesterday: Performed financial due-diligence on an acquisition target company for one of my clients.
Today: Pitching for the audit and tax work for a prospective new client.
Wednesday: Assisting a client with their accounting following their private equity backed management buy-out.
Thursday: Assisting a client with their R&D tax relief claim and their EMI share options.
Friday: Preparation of accounts and tax return for a new property company client.
How has Duedil benefited your work?
As a firm we have historically used another data provider to access information on companies and documents from Companies House. However the usability and speed of Duedil is already superior and hence it’s made it easier to find out quick information on companies. We also pay a not insignificant annual subscription to the other guys which doesn’t look like particularly good value for money compared to the free services offered by Duedil.
What specific information do you use Duedil to seek out?
Today I prepared a quote for a potential new audit client and Duedil enabled me to quickly identify the group companies (via the brilliant group graph function) and the other companies that the directors are involved with. Yesterday I was off to visit a potential acquisition target and following a Duedil search, I got a quick snapshot of information that helped me guide my work. The client I’m seeing on Wednesday now has a particularly complicated group structure following the MBO and it’s useful to get information on the enlarged group. And finally I use Duedil to find out information on my own clients to enable me to prepare their accounts, etc.
What kind of entities do you look up?
I use Duedil on a daily basis to find out information on clients, prospective clients and acquisition targets. These are usually UK private companies.
What pieces of information on company/director profiles are most useful to you?
I find the information on who the company directors and shareholders are the most useful. This information is available through our other data provider but it’s not particularly easy to find – Duedil is just a lot more intuitive.
Which features are the most beneficial for you?
The group graphs and the ability to quickly jump between connected companies. As part of financial due-diligence I want to find out about other companies that directors are involved with and may be connected in some way. Duedil allows me to easily find these companies in a quick and user-friendly manner.
The usability of Duedil is already superior to our other data provider and I’m sure that this will only get better. I’m looking forward to being able to download more Companies House documents and use the new features currently in development.