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Two of the South West’s leading independent accountancy practices have announced they are merging to create a new South West regional firm.

Thomas Westcott will join forces with Butterworth Jones to create a combined business with 24 partners and 190 staff across 18 offices in Devon and Somerset.

Devon-based Thomas Westcott is an established practice with offices across the county providing services including accountancy, audit, business recovery, corporate finance, financial planning and tax advice.

Somerset-based Butterworth Jones, founded almost 100 years ago, has five offices in Bridgwater, Burnham-on-Sea, Langport, Somerton and Weston-super-Mare.

Richard Thomas, Chairman of Thomas Westcott, said: “The merger is the ideal coming together for us and our clients as we continue to build a full-service accountancy business delivering first-class proactive support that adds real value to our clients.”

He added: “Butterworth Jones is a well-established and successful accountancy firm and we believe the two firms’ highly-complementary service offerings will significantly strengthen our overall market position in the South West and beyond.”

John Parker, Managing partner of Butterworth Jones, said: “A key advantage of this merger will be our ability to broaden the portfolio of services available to clients.

“Over almost a century we have provided high quality accountancy services and joining forces with Thomas Westcott will only enhance our reputation and create huge opportunities both for the business and our clients.”

He added: “Our hallmark is to deliver specialist services across a range of sectors through local offices.”

 

 

More than £4,000 was raised at a charity golf day held in aid of South West Multiple Sclerosis Centre.

The event, sponsored by Thomas Westcott Chartered Accountants and Thomas Westcott Business Recovery, saw 22 teams of four, made up of professional contacts and clients, battle it out at Teignmouth Golf Club.

In all £4,100 was raised through a combination of entry fees, fun golf-themed events, raffles and an auction. 

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Tom Hughes-Parry (1949-2015)

 

It is with great sadness that the partners announce the death of our former partner Tom Hughes-Parry FCA, after a lengthy illness that he fought bravely and uncomplainingly for the past two years. He passed away peacefully at home surrounded by his wife Rosemary and their sons Thomas and Phillip.

Tom joined Beer Aplin on 2 November 1978 having served his articles at Harmood Banner and working after qualification in the Investigation Department of Deloitte Haskins & Sells. He was appointed as a partner on 1 May 1979 and after the merger retired as a partner of Thomas Westcott on 30 April 2006.

Tom was well respected as an accountant by the business community of Exeter and his peers in the other professions. His work in the Charity and Not for Profit sector was extensive, holding many honorary positions including initially as Secretary to the Governors and then as Trustee of the Exeter Royal Academy for Deaf Education.  

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At Thomas Westcott Business Recovery, one of the most important initial steps in any Liquidation or Administration is to make sure that employees are looked after as efficiently and empathetically as possible.

You may have just received notification that your employer is soon to be placed into Liquidation or Administration. This is often a time of worry and panic for many. How are you going to pay the mortgage, pay your credit card bill or feed the family? There are a few practical tips you should consider in these circumstances:

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Several Thomas Westcott representatives attended the ICAEW Business Futures event in Coventry on Friday, they are pictured above with ICAEW President Andrew Ratcliffe. The interactive event considered the way in which businesses will need to continue to adapt in order to deal with the future. Topics were introduced by leading expert speakers across a range of subjects including energy and resources, financial markets, architecture and design and fashion.

The event closed with an uplifting key note address by Professor Brian Cox who gave his view on resourcing future energy needs, life beyond Planet Earth and the universe before the Big Bang. Professor Cox related his topics to business in the future and what life will be like on Planet Earth in thirty five years time.

 

In recent months, the Charity Commission have published reports following the conclusion of a number of statutory inquiries, many of which have been in respect of charities that have failed to file accounts for two consecutive years, these are known as double defaulter charities.

The published reports give brief details as to why accounts had not been filed and the reasons (or excuses) given by the trustees for their failings. It is important to note that a failure to file accounts is always due to the failings of trustees and is a criminal offence. Any new trustee assumes a responsibility to rectify the failings of the past as soon as they take on the role.

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1 November 2015

● Payment of corporation tax liabilities for periods ended 31 January 2015 for small and medium-sized companies not liable to pay by instalments.

2 November 2015

● Filing date for form P46 (Car) for quarter ended 5 October 2015.

5 November 2015

● Deadline for specified employment intermediaries to file return for tax quarter ended 5 October 2015.

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.

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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.