Leading business recovery, financial advisory and property services consultancy Begbies Traynor Group plc has launched an added value service offering which has been designed to enable independent accountancy practices to extend the range of services they offer to their clients.

Known as Practice Portfolio, the new package of services ranges from company credit reviews, global payments solutions and asset finance funding to specialist practice insurance, R&D tax relief, outsourced HR, employment law and safety advice, property and real estate services, and business sale and acquisition support.

“We have worked closely with hundreds of accountants for many years and we’ve become increasingly aware of how their role is broadening beyond audit and accounts to become full service business advisers to their clients,” explains Vee Babla, director who is heading up Practice Portfolio. “We have developed Practice Portfolio as a non-subscription service, to help support accountants with a range of white labelled complementary services, both from divisions within our group and also from other trusted service providers with whom we work.”

Vee Babla, who has worked hand in hand with independent accountancy practices for over 20 years and has an in depth understanding of the needs of the accountancy profession, continues: “The concept was developed in response to demand from our small and medium sized accountants who are keen to provide a broader offering for clients whose needs and priorities have changed, particularly since the pandemic. As the UK faces the prospect of an imminent recession, significant strain will be placed on the SME clients of many independent accountants. At this critical time, Practice Portfolio will help accountants and their clients as businesses will benefit from the cost savings and protection afforded by the suite of services.”

All of the Practice Portfolio services are available individually or as a package, on a non-subscription basis.

Dave Broadbent, partner at Begbies Traynor in Yorkshire, added: “This is essentially a unique package of services for accountants and their clients – we want to be the first port of call when their clients need specific advice or solutions. We believe this is an opportunity for accountants to grow their services to existing clients as well as helping them to win new ones.

“Early accountant feedback has been that they love the services; in some cases, they might only want a handful, while others want to use them all. The beauty is that they can pick and mix whichever they want and create their own perfect offering to clients. Already, we are looking to bring online other services, adding further value to the Practice Portfolio offering.”