Why trusting your accountant is key

Is it possible that the big players can ever really take over the position of the “high street accountant” or the reliable online accountancy practice that is always happy to offer one-on-one advice?

Of course not – not in our opinion, anyway.

An accountant should be there for you to advise you on the best way to manage your business finances and tax affairs. Let’s face it; this is a huge responsibility and one that you should only ever hand over to a company that you 100% trust in.

For example, you may be looking for the best price, but do cheap prices always mean great value?

Save more than just your accountancy bills

At Omni Chartered Accountants, we do what we say on the tin. We are direct, honest, experienced and – like our title says – we are Chartered Accountants, so you can be sure you are getting a professional level of service at all times.

We offer our clients excellent value for money but at the same time, we don’t scrimp on client service. All of our customers are given an initial consultation and we are always on-hand to offer advice in all aspects of their accounting queries when they need us.

In short, we are in business to save our clients money – we don’t put our profits first.

Why trusting your accountant is key

If you are unhappy with the way in which your company affairs are being managed, or if you would like to review your current accountancy bills, why not contact us for a free review? We will be happy to speak to you over the telephone initially and put forward our ideas as to how we feel our services could benefit your business.

Call 01902 837408 today or request a free of charge back from our website – also, check out our pricing page now to see how competitive our fees actually are.

And that is before we have started helping you to make the most of your company finances and tax affairs! Call Omni today: you won’t look back.

Liberal Democrats to tax the wealthy

If the Liberal Democrats win the next General Election in May this year, they will be raising tax on higher earners.

This pledge has recently been announced by Nick Clegg on the Andrew Marr show, stating that the raise in taxes would be part of their plan to reduce the deficit.

Mr. Clegg said;

"[Liberal Democrats’ plans would involve] a mixture of the following components: clamping down on tax evasion and tax avoidance; significant additional savings in Whitehall".

"There need to be some additional savings but not nearly on the totally implausible scale the Conservatives have said in the welfare budget and there will need to be some tax increases as well which fall on the wealthiest in society."

The Liberal Democrats plan to recoup £197bn via a number of various measures to help fund the seemingly ever-growing need for tax credits, popular with both the middle-class and any working families that find themselves struggling to make ends meet.

US tax plans

Although this policy may be popular with the UK masses, over in the US, a similar proposal by President Barack Obama has been met with criticism from opponents.

Obama's plan includes changing the rate of capital gains tax at the top section to 28% from 23.8%. He also wants to close a loophole in the law that allows heirs of large estates to get away with paying the full rate.

In addition, the US's biggest finance companies, with more than $50bn in assets, also face new charges; however, congress is deeply torn on fiscal policy, so this is likely to be strongly opposed.

Your tax affairs

For advice on your own tax affairs, we are here to help you make the most of your money. In fact, we are confident that we can save you money – for a free consultation, call 01902 837 408 or contact us today.

PwC dropped by Sainsbury’s after 20 years of representation

After 20 years of being their auditor, PwC – one of “the Big Four” accountancy firms – have been dropped like a hot potato by Sainsbury’s, after facing an investigation into the £263m Tesco accounting outrage.

It has been confirmed that EY will now be appointed as auditors for Sainsbury’s from March 2015 following a formal tender process in 2014 and as stated in their accounts.

Sainsbury's decided to de-instruct PwC after recommendations by its audit committee and also as a result of increased audit rotation. A spokesman for the supermarket giant also stated that the company highlighted its intention to review its auditors last year and confirmed the decision was not related to events over at Tesco.

Chairman of Sainsbury's audit committee, Gary Hughes, said;

“We would like to thank PwC, and specifically the Sainsbury's audit partners, for their significant contribution as the company's auditors over many years. Going forward we expect an orderly transition and look forward to working with EY into the future.”

Tesco accounting scandal

In December, the FRC launched an investigation into Tesco's accounting ‘black hole’ and audit work that had been carried out by PwC - it is also being investigated separately by the SFO (Serious Fraud Office).

Going back further to September 2014, a team of Deloitte forensic accountants identified that the first half profit estimate that Tesco gave the City was falsely inflated.

Since this time, PwC has said that companies were changing auditors frequently as a result of new regulations and as a result, it had gained as well as lost clients.

What do you think about ‘the Big Four’ and the Tesco accounting scandal? Let us know your thoughts on Twitter and remember that we are here to provide honest, impartial advice for your company for whenever you need it.

Omni Chartered Accountants are here to save you money, time and hassle – call 01902 837408 today or click here to contact us by email. You can also request a call back by selecting the tab at the top of the page.