A valuable but sometimes missed relief available to Limited Companies in the UK comes in the form of Research and Development (R&D) Relief. In this article, we are considering the relief available to SME’s.

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One of the most prominent benefits of cloud accounting software is their ability to speed up everyday processing tasks and ‘Bank Feeds’ lead the way in simplifying one of the most important tasks, bank reconciliation.

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At Thomas Westcott Chartered Accountants and Financial Planners we believe excellent customer service is about truly understanding our clients as we work towards becoming their trusted Partner.

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This month, we introduce our HR Coordinator, Jenny Field, based in our Exeter office.

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Our strong growth continues with the announcement that accountancy practice Reddaway and Co has merged with our Tiverton office.

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Over the last two years there have been many headlines concerning IR35, which at it’s heart is simply whether an individual should be taxed as an employee.

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In accounting terms limited companies often fall into two categories. Firstly, those who are medium or large and are required to have statutory audit. Secondly, small companies who are not required to have an audit but still have to produce statutory accounts which can be prepared by an in house team or an accountant.

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1. There are two different classifications of the way in which taxi businesses operate for VAT purposes.

2. Businesses can operate as an agent so that the taxi fare is paid as a direct transaction to the driver who is self employed and is registered for VAT if they are exceeding the turnover limits.

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This month we introduce one of our Trainee Accounting Technicians, Dan Ellard, based in our Exeter office.

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