KPMG UK and online accounting software provider Xero have partner up in a deal, which will enable KPMG to offer select online accounting and tax services to SMEs using the cloud from May.

These services include corporate tax, accounts, bookkeeping, payroll and VAT.

KPMG UK chairman Simon Collins said: "today’s partnership further demonstrates our commitment to small and early stage businesses that form the backbone of the UK economy and its future growth."

Xero UK managing director Gary Turner claimed the deal backed up Xero’s view that cloud accounting was fast becoming an important platform for both accounting firms and small businesses.

The partnership does not include KPMG taking any equity stake in Xero.

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By GlobalData

KPMG UK