Who are Thomas Westcott?
Thomas Westcott is a leading firm of chartered accountants in the South West of England, who have been active in the region for over 30 years. The group was founded by current chairman Richard Thomas, who started the firm in 1985. Currently it employs 275 staff including 35 partners and directors based in 17 offices across Devon and Somerset.
What do they do?
Thomas Westcott offers a range of services to its clients. Namely audit and assurance, VAT, financial planning, business recovery and insolvency and corporate finance.
It also offers a range of specialty services which include:
- ATOL: Assisting travel industry clients to meet the financial compliance requirements of the Civil Aviation Authority (CAA).
- Business Start Up Advice: Providing strategic business support, including personal and corporate tax advice and helping register the business for VAT purposes.
- Cash Flow Forecasting and Budgeting: Helps businesses plan ahead and forecast for the future.
- Company Secretarial: A service which helps companies reduce their risk of corporate identity fraud.
- Making Tax Digital: Helps clients keep their records digitally for VAT purposes only and also provide their VAT return information to HMRC through MTD functional compatible software.
- Valuation Services: Helps clients value their business in the event of business acquisitions or sales, and management buy-out or buy-in.
- Agricultural Consultancy Services: Provides independent business and technical advice to farmers.
- International clients: Advises on the best structure for expansion for UK tax purposes for UK businesses looking to expand overseas, transfer pricing, and a full tax and accounting compliance service for overseas businesses setting up in the UK.
- Trust and Probate: Helps clients deal with all aspects of handling a deceased’s estate.
- Trusts and Executorships: Helps clients liaise with solicitors in respect of drafting settlement deeds and the preparation of estate accounts.
- Cloud Accounting: Offers an integrated accounting software service and helps clients identify the software needs of their business.
For the last decade, for the financial years ended 30 April, Thomas Westcott decided not to disclose a copy of its profit and loss account as part of an audit, so any definitive financial results are unavailable.
The company was entitled to exemption from audit under section 480 of the Companies Act 2006.
In the news
Alison Watts, head of the firm’s corporate finance team, was made a partner of Thomas Westcott. With three decades of experience in the corporate finance industry, Watts joined the firm in 2017. She is based out of the company’s Exeter office and works with directors and business owners, advising on start-ups, expansion plans and exit strategies.
On her promotion, Watts said: “I am delighted to have been made a partner of Thomas Westcott and this position allows me to be more involved in the strategic direction of the firm.
“Being in corporate finance gives me the opportunity to develop close working relationships with business owners and really get to know them and their businesses. It’s about helping them achieve their dreams and goals.”
She added: “Being there on that journey with them and driving projects through to completion is what I enjoy most. Corporate finance is increasingly important to the firm and our growing team has an important role to play in Thomas Westcott’s continued success.
“Despite the challenges of the last 15 months, Thomas Westcott is growing very successfully and investing in people. My role as partner will allow me to help drive the business forward over the coming years.”