Who are Old Mill?
Old Mill is a South-West based accountancy firm that has origins dating back to the 1920s. Currently, it has four offices situated in Exeter, Melksham, Wells and Yeovil. The company is headed by Ian Carlson, who joined the firm in 2008.
His background is in finance and operations – having previously served as a tax accountant for Kingfisher PLC and as a finance director for the Met Office. Today the group supports over 5,000 private and business clients.
What do they do?
Old Mill offers a range of services to its clients. Namely audit, financial planning, payroll, VAT and personal family planning.
It also offers a range of speciality services which include:
Auto-enrolment: A service for employers which creates and offers a suitable pension scheme for their team.
Business assurance: Works with businesses to identify and measure exposure to risk, establish the optimum level of cover and explore the whole of the market to select the most suitable assurance policies.
Cash flow management: Helps clients draw up a financial plan and plan for the future.
Digital services: Cloud-based accounting that provides live data processing and up-to-date information, Xero training and integration and regular clinics to support and guide businesses through the transition of Making Tax Digital (MTD).
Executorship and Trustee Services: An independent professional executor services, which will act as an executor to manage clients accounts. Including organising finances and advertising for unknown creditors and obtaining details of money owed to the estate.
Exit Strategy and Succession Planning: Advises business owners on; selling their business, passing the business on to key employees or managers and tax planning advice around any business sale or succession.
Forensic Accounting: Combines accounting, auditing and investigative skills with commercial and industry experience, to advise on the financial aspects of legal and commercial disputes, secure evidence, and in some cases present that evidence at trial.
International Trade: Works with UK businesses looking to invest overseas and/or trade internationally, as well as with overseas companies seeking to trade in the UK or set up UK-based subsidiaries.
Trusts: Support and advice on all aspects of setting up and investing funds.
For the year ending 30 June 2021, Old Mill reported revenues of £2.7m down from £2.75m the year before. In addition, the group reported pre-tax profits of £2.68m down from £2.75m the previous year.
In the news
In June 2021, Old Mill announced that it had appointed Stephen Martin as its new senior tax advisor to help the firm realise its ambitious growth plans.
Martin qualified as an ACA in 2008 and worked at Moore Stephens in London where he trained in the business tax team.
During his 10 years at the firm, he progressed through to associate director and worked primarily with owner-managed SMEs across the financial services, shipping, and hospitality sectors covering a wide range of sectors.