If you are planning an audit, it is likely that your finance team will need to be heavily involved throughout the process.

Ensuring that they are prepared in advance of the auditors arriving on site will reduce the stress and minimise interruptions to the department’s day-to-day work. 

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We have appointed a tax specialist with more than three decades’ experience to enhance our team serving clients across the South West. Chartered Tax Adviser Ian Pring (pictured above on right) joins as a Partner, based in the firm’s fast-growing Plymouth office.

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Not all businesses require a statutory audit. If your private limited company has an annual turnover of less than £10.2 million, assets that are worth no more than £5.1 million and fewer than 50 employees, you may be exempt from an audit.

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As every professional knows the world of tax is ever-changing. In recent years there has been a continual push to seek to simplify the UK tax system to make it simpler to administer but also seeking to close the ‘loopholes’ that often arise as a result of the complexity of the rules and hastily enacted legislation.

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If you are considering taking on new commercial premises, or deciding whether to refurbish your existing business premises, there are many different things to bear in mind ahead of making your final decision.

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At Thomas Westcott we have embraced new technology across the firm to enhance our service to clients. For our audit and assurance team, using computer-aided audit tools (CAATS) helps us deliver more robust assurance. This means we can offer a far more intelligent service, helping our clients face the future with greater confidence.

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Following the Conservative majority in the December 2019 General Election, it seems highly likely that the Chancellor of the Exchequer, Sajid Javid, will announce a review of Capital Gains Tax Entrepreneurs’ Relief (CGT ER) in his first Budget on 11 March 2020.

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Many of our clients are unsure exactly what an audit entails, including whether or not it involves a thorough examination of the company’s taxation affairs.

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We have bolstered our presence in Somerset by appointing a new Certified Chartered Accountant. Szymon Krzyzanowski (pictured above on left) brings nine years’ accountancy experience to our growing firm, which has the largest network of accountancy offices in the South West.

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Three of our team members are braving the January cold and spending a night sleeping under the stars in aid of South West homelessness charity Julian House.

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