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Full marks for Warrener Stewart’s tax advisors in recent exams

28 January 2016 • Warrener Stewart News

In the latest round of the Association of Taxation Technicians (ATT) exams taken in November, Warrener Stewart had four candidates sit these professional tax exams; (l-r) Ryan O’Connor, Felicity Butler, Ashleigh Molton and Freddie Hollom.ATT-Students-(1).jpg

The ATT is the oldest examination board concerned solely with tax compliance, passing one of the stages of these exams demonstrates a professional standard and deep understanding of tax compliance issues in the UK.

“I’m pleased to announce that all our tax students passed their various stages,” commented Damian Talbot, head of the tax department at Warrener Stewart. “Felicity who took her first exam even achieved a distinction for coming in the top 10%; whilst Freddie, Ashleigh and Ryan successfully passed their outstanding stages leaving them just a final assessment to complete before qualifying.”

“In addition to these passes, we will soon have another Chartered Tax Advisor in the tax team following Daniela Tripksa hard work passing her final CTA exam. This allows her to apply for her Chartered Institute of Taxation (CTA) qualification,” continues Damian.

The taste of sweet success

06 January 2016 • Warrener Stewart News

Figures released from Companies House showed that 2014 was a record year for people taking the leap to start their own businesses, with 581,173 companies registered alone in 2014. As London based chartered accountants, Warrener Stewart can testify, enquires from start-up businesses has doubled in the past 18 months.

Many of their new clients are keen to start a new business based around some of the simplest of ideas. Indeed, inspired by an already successful pudding maker, one client saw an opportunity with their own take on chilled, potted deserts. Together with a handful of local associates and investors, Fulham based chef Julian Dyer, founded Pots & Co, turning to Warrener Stewart for their accountancy and financial advice to help develop the company’s foundations. Pots & Co has gone from little pots to large contracts in just under three years.

Having already secured distribution with Waitrose, Tesco and Selfridges, the Acton based pudding maker recently won a contract to supply their handmade puddings to British Airways and Delta Airlines. This latest contracts will help increase Pots & Co’s revenue from £2.7m to £8m.

“Pots & Co is a great success story,” notes joint managing director, Nick Morgan. “When we first started working with Julian and his team back in 2013 they had a handful of contracts, a few part time staff and were just embarking on their journey. It is fantastic to see how Julian and his colleagues have taken this company from an embryonic stage to a thriving business in such a short space of time. It is also gratifying to know that we have been able to assist directly by providing constructive assistance and advice in various areas, often needed in rapid response, as is often the way with such new ventures!”

 

The sky’s the limit!

05 January 2016 • Warrener Stewart News

Warrener Stewart are already feeling the pressure in 2016 as long standing client Tony Addinall goes sky high to raise money for Shooting Star Chase.

Last Autumn, Tony, Chairman of Badger Holdings Limited, made a tandem skydive from 15,000ft in aid of the children’s hospice. Over the past few years several of Warrener Stewart’s intrepid members, including joint managing director, Nick Morgan, have run, cycled and tackled muddy obstacles to raise money for the same Surrey based charity.

“I have done many sponsored events with Tony and his colleagues over the years, which is how I got connected with Shooting Star initially,” commented Nick. “Tony is always very competitive and has really raised the bar this time, literally!   We’ll have to come up with something equally spectacular to rival this! Or perhaps not?”

Warrener Stewart US Tax News

21 December 2015 • Tax Videos, US Tax returns

 

Now we are drawing to an end of the 2015 US tax year, here are a few updates worth noting going forward to 2016….

  • Change to the FBAR filing deadline
    Starting with the 2016 tax year, the FBAR filing deadline will change and is now be due on April 15th instead of June 30th. As with your Income Tax Returns, you can apply for a 6 month extension of time to file until October 15th. This should make things a bit simpler going forward as it means we actually have a bit more time and can file at the same time as the return.
  • Offshore Streamlined Filing Procedure is still open
    It remains the best time to get back into compliance with the IRS for individuals who have non-wilfully failed to file US tax returns and FBARs for some time whilst living overseas with the use of the Offshore Streamlined Filing Procedure. Using this procedure and subject to meeting the eligibility requirements  taxpayers can catch up on their affairs without incurring penalties for failure to fail and pay US taxes, however we don’t know how long this option will remain available or if any changes are likely to be made to make the terms less favourable.
  • WS are now Acceptance Agents!
    Damian Talbot has now qualified as a Certified Acceptance Agent which means that Warrener Stewart can now assist Non US citizens apply for US taxpayer ID numbers (ITIN’s) which is required for filing US returns who do not hold social security numbers. This saves individuals having to apply at the US Embassy or risk the IRS losing your original documentation.
  • New rates for Foreign Earned Income Exemption
    We can see a slight increase in the amount of Foreign Earned Income Exemptions available going forward to 2016 with $101,300 of foreign earnings being exemption from US tax, compared to $100,800 in 2015 and $99,200 in 2014.

 

Warrener Stewart joins the IRS Acceptance Agent Program

17 December 2015 • US Tax returns

Warrener Stewart’s head of Tax, Damian Talbot, has recently become an Authorized Acceptance Agent licensed by the American tax authority, the IRS, to help non-residents apply for their individual tax numbers. The US tax system can be complicated. Anyone who is not an American citizen, but is still required to file US tax returns as an ‘alien’, must have an Individual Taxpayer Identification Number (ITIN).

Damian, who is also an EA (Enrolled Agent), decided to undertake the necessary additional training to become an Acceptance Agent to be able to offer clients a more extensive US Tax Service.

Commenting on his latest qualification he said; “Warrener Stewart has a number of clients whose personal and business tax affairs come under either the UK or US tax systems.  As an Enrolled Agent I was able to represent taxpayers but only if they already had their ITIN. Now we can offer a complete service for individuals who are new to filing US tax returns.”

 

Two accountants choose Warrener Stewart to develop their careers

02 December 2015 • Warrener Stewart News

Warrener Stewart is delighted to have recruited two new people to join the accountancy team; Anita Desai ACCA and Alex Eagle ACA.  Both have already qualified as accountants and chose Warrener Stewart having worked in other practices since they wanted to become more involved with clients and help them achieve their business aims.

WarrenerStewart_AnitaAndAlex_Image-(1).jpg

Following a degree in Accounting and Finance Anita, decided to become a qualified accountant. Having worked with clients in the media and entertainment industry she was keen to expand her knowledge of business by moving to a practice where she could develop a more analytical and client facing role.

Similarly, Alex having completed his training as a Chartered Accountant with a medium sized firm wanted to take on a more hands on role. Alex has first hand experience of working with a broad range of clients dealing with audit and accounts assignments at all levels. His move to Warrener Stewart will allow him to build a portfolio of clients to work closely with, while assessing and analysing their needs to ensure they reach their business goals.

Commenting on their appointment, Colin Edney said; “We are delighted to welcome Anita and Alex to our ever growing team. Both have a wealth of experience that our clients will directly benefit from.

One of the key things that we pride ourselves upon at Warrener Stewart is our partnership with clients, providing a vital link between a set of financial accounts and their financial goals. To do this means adopting a more joined up approach to accounting and finding candidates who have a desire to look beyond the numbers! In Anita and Alex we have found two very capable accountants with great business skills.”

 

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James Beagrie - Meon Valley Travel Group