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Di Perrett
By Partner Di Perrett


All small companies with accounting periods commencing on or after 1 January 2016 which have not adopted micro entity accounts will have to implement Financial Reporting Standard 102 (FRS 102).  FRS 102 supersedes all previous accounting standards.

The top 5 changes are considered below and in all cases the changes will need to be examined in relation to the current year and associated restatement of the comparative figures.  This will typically mean considering these changes as at the yearend, the prior year end and also the year end prior to this to ensure the figures are shown on a like for like basis.  


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Jamie Giles
By Jamie Giles

We’ve just held a special celebration event to launch the merger between ourselves and Parkhurst Hill in Plymouth

At a champagne reception senior partner of Parkhurst Hill, Paul Stapleton, welcomed over 60 professional contacts including solicitors, banking executives and others to the firm’s offices at Marsh Mills. 

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Jamie Giles
By Marketing Administrator Jamie Giles

Here at Thomas Westcott we value every one of our team members. We have over 240 dedicated staff including trainees, accounts staff and admin staff. Each with their own stories, motivations and reasons why they love working for Thomas Westcott!

So we’ve decided to give the people who work behind the scenes some recognition. Every month we will post a Q & A with a staff member from one of our 18 offices. 

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Mark Tibbert
By Partner Mark Tibbert

Below are some key financial dates and deadlines for August.

Ray Symons
By Partner Ray Symons

The floods on the Somerset Levels 2 years ago were the worst in living memory.  Villages were cut off or became ghost towns as all the residents moved out. Farmers were particularly affected and had to move livestock from their farms at very short notice.  The aid that was given by members of the agricultural community and the general public was extraordinary.

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Keith Clay
By Partner Keith Clay

For private limited companies and limited liability partnerships there has been a requirement from Companies House to submit an Annual Return listing the company information, officers and shareholders ensuring the data on the public record is up to date.  From 30 June the Annual Return has been replaced by an annual Confirmation Statement.

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Chris Hill
By Partner Chris Hill

The South West Growth Fund, launched in September 2015, is an £8.7M grant fund that is able to provide investment grants to small and medium sized enterprises throughout South West England and large companies within the Assisted Areas of South West England.

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Matt Portman
By Partner Matt Portman

Whether its Quickbooks, Sage, Xero or one of the many other internet based accounting products, Thomas Westcott’s software specialists are able to assist you with all of your Cloud Accounting needs. We pride ourselves on finding the right product for our clients and then building our service around it. 

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Michael Marsh
By Partner and Head of Tax Michael Marsh


Previous editions of our Taking Account Newsletter have focused on the enhanced tax relief available for qualifying expenditure on research and development (R&D) costs.

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Jack White
By Agricultural Consultant Jack White

With the well-publicised delays in basic payment and the majority of agricultural commodities over supplied, 2016 is likely to be a difficult year for many farm businesses. Profits are under pressure and cash flows are likely to become increasingly difficult to manage with many producers already at or over existing overdraft limits. 

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