Supporting you at every stage of your business journey

• Address
  Ebenezer House,
  Ryecroft,
  Newcastle Under Lyme,
  Staffs,
  ST5 2BE
• Telephone
  01782613141
• Email
  info@twca.co.uk
• Web
  www.thompsonwright.co.uk/

• Address
  Spring Court,
  Spring Road,
  Hale,
  Cheshire,
  WA14 2UQ
• Telephone
  0161 928 7100
• Email
  info@twca.co.uk
• Web
  www.thompsonwright.co.uk/

• Address
  11 Cawdry Buildings,
  Fountain Street,
  Leek,
  Staffs,
  ST13 6JP
• Telephone
  01538372972
• Email
  info@twca.co.uk
• Web
  www.thompsonwright.co.uk/

Today’s business environment is fast moving, complex and highly competitive. Business owners need the support of professionals who provide on time, effective solutions to help their business move forward and we aim to provide such a service.

We will provide a team of reliable, approachable and proactive accountants who will not only respond to your needs, but will also work alongside you to help you prepare your management accounts.

These are vital to the continued success of your business and we will discuss your requirements with you and provide you with tailored information and constructive advice based on our extensive business knowledge.

Finance lies at the heart of every business, be it a question of boosting profits, managing costs, ensuring that operations and processes are as efficient as possible, or securing the funds necessary for growth and expansion.

Through years of working with organisations of all types and sizes we have developed a wide range of skills and services designed to improve business performance and profitability.

For more details about our accountancy services please contact one of our friendly specialist team

For employers, the introduction of workplace pensions by the government has additional issues that need to be addressed. Emphasis will be placed on employers to meet the stringent rules and regulations of auto enrolment, with those who fail to comply facing heavy financial penalties.

We can help you in all aspects of auto enrolment including:

• Identifying at what stage you need to be ready
• Assessing who within your workforce qualifies to join
• Choose a suitable pension scheme
• Liaising with your payroll function
• Implement software as required
• Registration
• On going administrative responsibilities

TW Financial Planning are here to help you through every step.

Helping you plan for a financially secure future

It’s never too early to start thinking about your personal financial future. How you will fund your retirement and maintain your existing standard of living once you are no longer economically active.

Achieving your retirement dream

Increased life expectancy, a rising state pension age and changes to workplace pension schemes mean that we all need to take responsibility for our retirement.  This is particularly important if you want to maintain your current lifestyle into your later years.

A fear of making a wrong decision is often what stops many people from having a financial plan. Add to that a plethora of consuming and complex information plus a range of constantly changing financial products and it is easy to see why people avoid making any plans for their retirement.

Financial freedom

We can help with retirement planning, offering advice about ways to achieve a lifestyle that suits the needs of you and your family. A framework that considers unexpected events, for example, changes in your work circumstances and adapts accordingly.

All our clients have individually tailored plans that are based upon their immediate and future priorities. However, there are consistent themes throughout that include inheritance tax, wealth protection, setting up a trust fund and achieving a desired lifestyle.

We provide impartial advice in the following areas:

• Pension schemes
• Individual savings accounts (ISA’s)
• Life assurance
• Investments
• Critical illness cover
• Private health insurance and care plans

Once we have discussed your financial situation we will advise you on the best way to chart a course to your financial destination. This includes advice about the retirement age and what you will need to live on to maintain your current standard of living.

We understand that life can be unpredictable and situations occur that have a direct impact on your present circumstances, for example, redundancy. Your financial plan will be flexible and adapt to any change in circumstances.

Authorised and Approved

Our directors, David Wright and Richard Thompson are members of TW Financial Planning Ltd, a sister company that is registered with the Financial Conduct Authority. This accreditation means that we are ideally placed to offer advice about personal and corporate financial issues alongside our specialist tax services.

We are regulated by the Institute of Chartered Accountants in England and Wales and the Financial Conduct Authority in respect of investment business services.

Contact one of our qualified advisers for an initial discussion.

Strategic focus with a real world approach

All businesses are required to file annual accounts with HM Revenue & Customs and Companies House as a matter of course.  Furthermore, there is a mandatory requirement for large and medium sized businesses to undergo an external audit of their accounts.

Value added service

This highly skilled task is a strength of our firm. Our auditors use a tried and tested system that enables them to analyse and disseminate information in a business-friendly language that you can understand.

We provide statutory and specialist audit services to businesses of all sizes including private companies and other more specialist sectors. These specialist sectors include charities, academies, the legal profession and property development.

Looking at key risk areas within your business, we can suggest practical solutions that will improve the finance function of the business as a whole. The further benefit from this process is an enhanced reputation in the eyes of future investors, suppliers, customers and potential sources of funding.

The outcome is a positive business image that increases your future success.

The role of an auditor

This vital task requires technical knowledge and skills allied to a business-savvy approach. It requires the auditor to take a broad view of the client’s business sector whilst considering potential opportunities for growth and development.

Rest assured of their ability to carry out your audit to the highest standards; looking at your financial and management systems with a keen eye to ensure that every aspect is covered. This attention to detail is a key part of our in-depth approach and ensures that you comply with all the necessary legislation.

The audit is an unavoidable part of business but can pay dividends when done properly. This system of checks and balances keeps your business on track and performing to its maximum capabilities.

Our audit team will carry out this task in a professional and courteous manner, identifying any problem areas and offering solutions to resolve these issues. They will discuss the current financial year and work closely with you to help plan for the future.

Our audit and assurance services include:

• Tailored review of your systems
• Fixed fee
• Hands-on approach
• Flexible and specific to your needs
• Comprehensive report with targeted guidance
• Punctual tax returns

For more information, contact our professional, friendly audit team:

• Jeremy Bostock
• Wayne Riley
• Steve Hollins

Running a successful and developing business can be about control. It is vital that the information you receive is accurate and regular so that you will have a full and honest picture of your financial status. At Thompson Wright our Client Services Bureau ensure all our customers have the right amount of information delivered at an appropriate time interval. It may be that your business needs just a yearly full financial review. It could be however, that it is more appropriate for you to receive quarterly, bi-monthly or even monthly information. Being close to your day-to-day operation means we understand the individual needs of your company and we filter information through in a format that suits you.

However, providing accurate information is half the story. We never deliver information without a full and honest explanation. Our job does not end when we provide your accounts details, we will help interpret the figures, explain what they represent and help in understanding what this means in real terms. Keeping regular health checks on the company finances will help to anticipate trends, highlight potential areas needing focus and will ensure you are never the recipient of unpleasant surprises!

Our one page report summary will extract from the full accounts key factors enclosed within the accounts. It will enable you to read and understand the implications to your business of the latest financial results. The report is written in plain English and we are always on hand to discuss the findings with you.

Effective tax planning saving you time and money

We all have to pay tax whether we are employees, business owners or contractors but the UK system is a complex and daunting area to deal with. It is easy to get it wrong and end up paying too much tax, which then has a negative effect on you, your business or your family.

How do I set up a PAYE scheme for my employees? What is the best tax structure for my business? Where can I get advice about registering for VAT? Whom do I speak to about reducing my inheritance tax liabilities?

Complete tax assurance solutions

We have the answers to these and many other similar questions about tax planning. At Thompson Wright, we believe it is vital to have an efficient tax structure in place that ensures you pay a sensible amount of tax to HMRC.

We help with:

• Business taxes
• Personal taxes
• Employment status
• VAT registration and planning
• Capital Gains Tax
• Inheritance tax planning
• Profit extraction strategies
• Employee remuneration strategies
• Exit strategies
• IR35 advice (for contractors)

Our strategic planning services with expert advice and support will result in a welcome reduction to your tax bill.

Ever-evolving plans

Our first rate team of tax experts has extensive knowledge of tax law and the effect on our clients from a personal or business perspective. This includes a deep understanding of the complexities involved combined with the ability to decipher these so that they are easy to understand.

We will devise a personalised tax plan for you that exploit areas of potential savings whilst reducing your liabilities. This includes clarification of any technical information with discussions about various options for efficient organisation of your tax affairs. Furthermore, we explain about any recent changes to tax legislation, keeping you up to date and in an ideal position to take advantage of any savings.

Our tax plans constantly evolve to accommodate changes or additions that may prove to be beneficial. This ability to adapt and to look for the latest developments in tax law for the benefit of our clients is a particular feature of our firm.

Here to help whenever you need us

Let us remove the stress of tax returns, VAT administration, National Insurance (NI) contributions or IR35 legislation. Talk to us about plans for the future of your business, transferring your estate and/or trusts to your chosen beneficiaries or making a will.

For more information, contact our well-qualified tax experts.

Helping hand on a daily basis

Administration is a crucial aspect of any business large or small. From accounts and bookkeeping to payroll and VAT, these tasks ensure that your business functions at its best on a daily basis.

A valuable addition

For many contractors or business owners, administration or ‘admin’ for short is their least favourite task.

This is where we can help. We act as a valuable member of your team providing first class, administrative support tailored to your needs. We have qualified, experienced staff delivering these services to the highest standards.

Sterling teamwork

Our support services team advises about payroll, Sage and all aspects of VAT including registration, planning, returns, control and reconciliation. They also advise about compliance and dealing with HMRC including disputes.

Chasing unpaid invoices, ensuring the accounts are up to date and other important transactions are often neglected due to a lack of time and inclination. We can help improve cash flow and profitability. The payroll is the most important service involving numerous essential tasks that together constitute the salaries of your employees. Even if your business contains fewer than ten employees, you will make savings by using us to administer your payroll.

Sage expertise

Sage is a state-of-the-art software system that is used by many leading accountancy firms. It handles bookkeeping, VAT, PAYE systems and many other accounting procedures and is considered the gold standard in this field. It has ISO 9001:2008 Accreditation and is a popular fixture in businesses in the UK and abroad.

We are only one of 161 Sage Accredited Partners in the UK, enabling us to advise you about the various ways this can improve the efficiency and overall performance of your business. However, we also have expertise in other software accountancy packages that we discuss with our clients on an independent basis. All accompanied by hands on training and support to ensure you achieve the maximum benefits from your software solution.

Xero

Cloud based systems now allow us to work more closely with clients, giving real-time information on which to make business decisions.Xero is a market leader in this field and we offer full training and support of its software products.

Let us take the strain of bookkeeping, payroll or accounts.

Contact a member of our team to talk about their particular support service and how it can help you

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.

The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government’s coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime.

We provide a discreet estate planning service that includes:

• Help with drawing up and reviewing your will
• Making full use of exemptions and lower tax rates on lifetime transfers
• Optimising lifetime transfers between spouses
• Transferring agricultural or business property
• Transferring assets into trust
• Arranging adequate life assurance to cover potential inheritance tax liabilities

We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.

HM Revenue and Customs can open an enquiry into anyone’s tax return. The skill of an accountant, and the accuracy and presentation of a tax return, may no longer be sufficient to prevent the cost and disruption of a tax investigation.

Since the amalgamation of the Inland Revenue and Customs and Excise into a ‘super agency’ the risk of an investigation is now even higher. As well as Tax Returns, Corporation Tax Returns, PAYE records and VAT returns may also be subject to examination.

Businesses and individuals have a right to defend their position if the authorities decide to investigate their affairs. Thompson Wright can help you to present your case in a professional manner. We have staff experienced in all types of investigation ensuring the best service for our clients.

If you are unlucky enough to be selected for an investigation then there will of course be professional fees to pay and for this reason we offer our clients insurance to meet these additional costs. Through Abbey Tax Protection Ltd we can offer a cost effective policy that will cover you in the following events:

• Self Assessment Full Enquiries (Income Tax and Corporation Tax)
• Corporation Tax Accounts Investigations
• VAT Disputes
• Employer Compliance Disputes (PAYE, P11D and NIC)

Please note that the cover is not valid if your tax return is not submitted on time.

For further information please call or email us.

With the tax regime becoming more complex and more emphasis being put on taxpayers individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.

We are the tax specialists. We can provide you with year round tax advice on:

• Income tax
• Capital Gains tax
• Inheritance tax
• Trusts and estates
• Non-domiciliary tax issues

Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

Make sure you take full advantage of the tax saving opportunities open to you – contact us today for a personal tax planning review.

Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:

Exit strategies

If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?

Pension provision

Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

Savings and investments

Do you have the right balance between savings and investments, and between high and low risk exposures?

Life assurance and long-term care

Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years.

We can help you answer all these questions and recommend solutions tailored to your particular needs.

Richard Thompson and David Wright are also directors of TW Financial Planning Ltd, a company authorised by the Financial Conduct Authority. In that capacity, advice on a wide range of personal and corporate financial issues can be given in tandem with our own specialist tax knowledge. This allows us to provide a seamless comprehensive service to clients.

The term ‘self assessment’ is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!

The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.

We can save you a lot of time, worry, and money by handling your self assessment for you. We will do all the necessary computations, complete your return and even offer advice on how you can minimise your tax liability.

We can act as your agent dealing directly with HMRC on your behalf and should you be selected for a self assessment enquiry, act for you at any meetings.

Trusts are a relatively easy and very tax efficient way to set aside assets for future beneficiaries outside of the inheritance tax net. We can advise on the most suitable type of trust for your purposes, set up trusts, and provide a full range of accounting services for trusts.

We can also advise you on the preparation of your will.

Where appropriate, we can act as trustees or executors.