Important changes are coming that will affect your company. This article explains the changes and tells you what you need to do. 

From 6 April 2016 you needed to start keeping a record of the people who control your company - your PSC's. There are criminal penalties if you don't do this. 

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From 1 April 2016 ATOL holders are required to use an ATOL Reporting Accountant (ARA). This requires all accountants who produce reports for the Civil Aviation Authority (CAA) be members of a participating accountancy body, register to take the required training and become part of the ARA scheme. 

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Our 2016 Spring/ Summer Agricultural Newsletter is now available. 

In this latest edition we take a look at the impact of the Somerset floods on the local farming industry 2 years on. Plus we here from Phil Cork of Crediton Dairy on the issue of milk price in 2016. 

To read about this and much more click on the image below.

  

A cheque for more than £4,000 was presented to the South West Multiple Sclerosis Centre charity by Thomas Westcott Chartered Accountants.

The money, which in total came to £4,100, was raised at the firm’s annual charity golf day and other fund raising events and will go towards daily running costs of the centre in Clyst Heath, Exeter.

The South West MS Centre receives no government funding, relying solely on charitable donations in order to survive and is run by a team of part time staff and dedicated volunteers.

Therapies offered at the centre to those with MS include hyperbaric oxygen, reflexology, yoga and physiotherapy.

The cheque from Thomas Westcott was formally handed to the centre’s management by Steve Cresswell, partner and head of the firm’s charities and not for profit team.

(Alan Whiteman, Steve Cresswell, Caroline Smith, Paul O'Hara)

Steve, who was given a personal tour of the centre to see for himself the facilities and therapies offered to people suffering with MS, said: “To see the excellent work being done here by dedicated teams of mostly unpaid volunteers is truly eye-opening and I am very moved that Thomas Westcott can help this worthwhile cause through our ongoing fundraising activities.

“As a firm we are committed to raising funds for this charity and are very grateful for the continued support of our sponsors and the many teams who gave their time to take part in our annual golf day.”

He added: “Without the ongoing help and willing assistance from the centre’s members this event would not be the tremendous success it is.”

Caroline Smith, centre manager, said: “At the South West MS Centre we have shared experiences and know and understand what it feels like for such a debilitating condition to impact on your life.

“We like to think of the centre as an oasis of caring, supportive and like-minded individuals who come together to support each other.”

She added: “It’s a fact of life that we have to depend on the charity of others in order to deliver these treatments that make the lives of people with MS that little bit more bearable, and we would like to thank Thomas Westcott and the many other individuals and businesses who help us achieve this.”

(The South West MS Centre)

(Hyperbaric Oxygen Chamber)

 

To read about the great work they do at the centre click here to visit their website

The Sedgemoor Bunsiness Excellence awards recognises the hard work done by local businesses in the Sedgemoor area of Somerset. It's annual event and 2016 was its fourth year, this time around being hosted at Bridgwater College on the 17th March.

We were delighted to sponsor the event and Butterworth Jones and Thomas Westcott partners Ray Symons and Phil Butterworth were in attendance to show their support. 

Here are some photos from the evening:

(Ray Symons with Family Business of the Year Winners Pedruth Paddocks)

(Andy Adams of Bridgwater College, Phil Butterworth and Ray Symons)

For more photos of the event and to see a full list of the winners click here 

The March issue of Taking Account is now available.

Click here to read more about our recent merger with Parkhurst Hill, implications of the 2016 budget and much more. 

Following today's Budget Announcement by the Chancellor George Osborne, Click Here for an 'easy to understand' summary

A whole raft of new tax rules have already taken or will take effect in the coming years that particularly affect those not resident or not domiciled in the UK. Such individuals should consider undertaking a thorough review of their affairs to ensure that tax planning opportunities are identified and an increasing number of pitfalls and tax charges avoided. 

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You may be expecting it or it may come out of the blue but what should you do if you find out a customer is about to enter liquidation? 

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We’re delighted to announce that one of our newly-qualified accountants, Jo Davey, is on top of the world after her final accountancy exam results saw her finish in the top five globally.

Figures from the ICAEW show that Jo, who joined us as a trainee in 2012 and works in our Axminster office, came fourth out of 3,800 students worldwide who took the globally-recognised exams.

Jo says that even though she had a good idea she’d done well after studying hard it was still a shock to learn she had finished in the top five in the world, adding: “Gaining my full professional qualifications has been tough going at times but my colleagues have been very supportive and, as a firm, Thomas Westcott has given me every opportunity to succeed, including allowing time off to attend special training in Gloucestershire, for which I’m very grateful.”

There was also previous success for another of Jo’s colleagues, Mark Johnstone, who works in our Exeter office and who also sat the ICAEW exams, finished just outside the top 10 globally in eleventh place last year. 

Jo grew up in Honiton and attended the town’s secondary school before studying maths, physics and biology at Exeter College. After college she gained a place at Plymouth University and studied accounting and finance, before joining us here at Thomas Westcott.

Jo and Mark’s achievements are the latest successes for our firm which has “training office” status under ICAEW rules and is also authorised for training and post-qualification training by the ACCA and AAT.

At any time we have 20 or more trainees learning their profession across our network of offices and Jo and Mark’s positive attitude, professional approach and a desire to succeed are typical of the calibre of young people we attract, and their success should provide our clients with peace of mind that they will continue to receive the very best advice.

(Jo Davey with Shona Godefroy)