Discussing end of life matters with your loved ones can seem a bit of a taboo subject but taking control of your affairs now can save heartache and stress further down the line.

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The inheritance tax regime has been relatively stable for some years but one wonders how long this will continue to be the case. In its recent report, the Office of Tax Simplification has called for the system to be overhauled. The proposed changes include cutting the “seven-year rule” on lifetime gifts to five years and scrapping taper relief, which taxes gifts made between three and seven years before death on a sliding scale.

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The second round of the Countryside Productivity Small Grant scheme is now open for applications but only for a limited time. The scheme aims to support investment in agricultural equipment and boost productivity by providing funding for farmers to purchase specialised equipment. 

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Thomas Westcott was, once again, one of the headline sponsors for a charity challenge that aims to raise money for a great local cause.

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We are celebrating being shortlisted in the 2019 British Accountancy Awards, having been announced as a finalist for the Mid-Tier firm of the year award (turnover between £10million and £25million).

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From 1 October 2019, HM Revenue and Customs will introduce a VAT reverse charge on certain building and construction services. This measure will mean that the customers will be liable to account for the VAT in respect of those purchases, rather than the supplier.

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We are delighted to announce that Shona Godefroy has been appointed as our new Managing Partner.

Shona takes over the leadership of the practice from Chairman Richard Thomas, who founded the firm in 1985 and is stepping down after 34 years. 

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Our farming clients often ask our specialist Agriculture team about Agriculture Property Relief. This relief can cause confusion because it is not always clear which land or buildings will qualify.   

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The partners at Thomas Westcott are deeply saddened to announce the death of our fellow partner, Matt Portman, aged 35, who has passed away whilst on holiday with his family. 

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Thomas Westcott is proud to be a VIP sponsor of Venturefest South West, an event which will bring together businesses from across Devon, Somerset and Cornwall, championing innovation, technology and entrepreneurship.

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