For many years small companies have been able to take advantage of the option to file abbreviated accounts at Companies House, thereby keeping to a minimum the information they put into the public domain about them. All this is about to change!
Effective from accounting periods commencing on or after 1 January 2016 this option is removed from company law. So what filing options will be available to small companies in the future?
Generally speaking, small companies will be required to file the version of the accounts that they prepare for their shareholders. They will, however, still have the option not to file the profit and loss account and/or the directors’ report at Companies House – although this does mean that more of the notes to the accounts are likely to have to be filed than at present.
Are there any other options available? Well, yes.
The Chancellor has confirmed that he will give his Autumn Statement & Spending Review on Wednesday 25th November 2015.
It will be a chance for the Chancellor to expand on announcements made in his July Budget, together with any possible further changes planned for the following year, as well as presenting the OBR’s forecasts and impacts of previously advanced changes.
As usual Thomas Westcott will be following the announcements carefully and providing comment on what any announcements mean for our clients and the business community across the South West on the day and the following weeks. Check our website for our commentary following his speech.
Find out what a 'green roof' is, and learn how the summer budget changes will affect the farming sector in our Agricultural Autumn Newsletter.
The team is hosting a series of seminars in Tiverton, Axminster, Holsworthy & Zeal Monachorum (near Crediton). Thomas Westcott representatives and guest speakers will be discussing the following topics.
- The Basic Payment Scheme and what you will need to know for next year’s application process.
- Getting your partnership agreement and wills in order to ensure your most valuable assets are protected.
- Changes to the permitted development rules and what they will mean in practice.
Click here to see more details, we look forward to seeing you there.
The new National Minimum Wage rates will come into play 1 October 2015.
Click here for more information on the changes and how Thomas Westcott's Payroll Bureau can aid you with this transition.
If you have any questions or need advice regarding these changes, please do not hesitate to contact Stuart Carrington or Debbie Cole.
As you may have read in the news recently, the law on workplace pensions has changed and these changes will affect every employer. You can use the Pensions Regulator's staging date calculator to confirm the date your automatic enrolment duties start.
Our Auto Enrolment Employer events in September 2015 will provide you with detailed information on automatic enrolment. Please see our events page for dates and venues.
If your business is in one of the following sectors, then the new South West Growth Fund may well be of interest: Advanced Engineering, Marine, Digital Creative, Environmental, Manufacturing, Food Processing, Electronics and Pharmaceuticals.
The South West Growth Fund (SWGF) 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. These grants, ranging in size from £15,000 to £999,999, are awarded on a competitive basis to growing businesses that intend to make substantial new capital investments that will lead to quality, permanent job creation.
We are delighted to announce the we have been shortlisted in the British Accountancy Awards for Best Mid Tier Firm of the Year.
It is the first time the firm, which has 14 offices across Devon and which this year celebrates its 30th anniversary, has ever entered the prestigious awards which are held annually to recognise excellence in the UK’s accountancy sector.
We will now have to wait until November when the winner will be announced at a glittering awards ceremony in London.
Thomas Westcott is delighted to announce that they have acquired David Jenkins & Co in Tiverton.
It is anticipated that the transfer of David Jenkins & Co’s practice, based in Woodward Road, Howden Industrial Estate, to Thomas Westcott will see the two Tiverton offices combine over the coming months.
Richard Thomas, Chairman of Thomas Westcott, which has 13 offices in Devon including one in St Peter Street, Tiverton, said: “David Jenkins, who has a superb reputation built over many years, has now transferred his practice to Thomas Westcott and we are delighted to welcome his staff on board.
“We look forward to working with them and also with David’s clients who, rest assured, will continue to receive the very best accountancy and business advice services available.”
Following the transfer Thomas Westcott partner Stuart Carrington has taken responsibility for the new Tiverton office, while his colleagues John Potter and Denise Harris continue to look after Thomas Westcott’s existing Tiverton clients.
If you have any questions regarding the new office please contact Stuart Carrington on 01884 252466 or firstname.lastname@example.org
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