Financial Reporting ServicesFor companies needing independent tax advisory and accountancy services to help with financial statements and tax return preparation for their auditors, including the “big four” auditors
Are you a large or international company?
Hawsons acts for many large companies and groups who need independent help preparing statutory financial statements, corporation tax computations, returns and submissions, and other advisory services.
Are you experiencing time or resourcing constraints?
The financial year end brings a heavy workload to finance departments, so outsourcing part of the work can reduce some of the pressure especially when it is difficult to maintain up to date disclosure knowledge in-house.
Are you experiencing auditor independence issues?
Where your auditors are unable to help you with reporting matters due to maintaining independence, we can provide this for you, safe in the knowledge that we know exactly what your auditors require and the timescales and format they require it in.
Our Financial Reporting Services
Statutory Financial Statements
We produce statutory financial statements for a number of clients which are then audited by Big 4 and other international firms. As auditors ourselves, we understand the demands that this can place on resource in a finance department and aim to reduce this burden by working with you to produce compliant statutory financial statements that are ready for audit.
Be it to gain a level of comfort over an area of the business or a third-party requirement, our team of assurance experts can provide a service tailored to your needs.
Agreed upon procedures can be used where there is a requirement to look at a specific area of the business, the report can be used to look at both financial and non-financial data.
Grant funded projects often carry requirements for some level of accountant certification, we have a number of experts within our Audit & Assurance Team that can perform procedures to satisfy the requirements of the grant agreement.
R&D and Patent Box Services
Government-backed innovation reliefs and incentives such as Research and Development (R&D) and Patent Box can provide UK businesses of all sizes with significant tax savings and incentives to fund further innovative activities.
Experts from our Tax Team have prepared claims across a wide range of sectors for companies big and small. Our dedicated innovation specialists would be happy to carry out an initial review of the potential tax savings that could be achieved from an R&D and / or Patent Box claim.
VAT is a notoriously complex area to understand. VAT specialists from Hawsons can help to manage and mitigate your VAT liabilities as well as identifying opportunities for cash savings. We can carry out a ‘VAT Health Check’ to make sure your systems are compliant and can offer more bespoke advice such as partial exemption or special methods.
Employee Share Schemes
The use of employee share schemes and share based payments can be a particularly cost effective and tax efficient form of remuneration. They can also help to foster a strong working relationship in regards to retaining and incentivising staff.
We deal with many clients on share incentive schemes and can advise on the suitability of employee share incentives and the implementation of any arrangements. We have worked with businesses of all types and sizes, ranging from start-up businesses to large company groups on a number of employee incentive solutions.
Some of the share schemes we have helped to implement
• Enterprise Management Incentives (EMIs)
• Company Share Option Plan
• Share Incentive Plan
• Save As You Earn Share Option Scheme
Corporation Tax compliance and IXBRL tagging
Completion of corporate tax returns and electronic tagging is a necessary but administrative burden. Ensuring that the correct tax is paid and any tax reliefs available are maximised, can, however, be a complex process.
Hawsons offer a ‘tax health check’ for the business. This involves reviewing the previous years’ tax returns with management and is aimed at reducing your risk and identifying areas for potential tax savings. From a compliance perspective Hawsons can help as much or as little required, from a fully outsourced tax service to technical advice on a specific area, or an independent review of the tax return.
We have a range of experts within Hawsons meaning that we can offer a joined up service, looking at projects in the round and advising on both the accounting and taxation implications as well as the wider impact on the business.
Our level of involvement can be tailored to suit the needs of a specific project and also to fit around the expertise that you have in house.
Payroll / PAYE Compliance
There can be significant benefits from outsourcing your payroll. Our experts combine years of experience and specialist knowledge with the latest technology and a flexible approach. From online communications with HMRC to the latest ‘green’ e-payslips delivered to mobile phone apps, we will work with you to deliver the services you need in a way that complements your business.
We can also carry out a ‘PAYE health check’ to ensure your systems are compliant and to mitigate the risk during HMRC visits.
Valuations for tax purposes may be required for a wide range of transactions including acquisitions, investments, business reorganisations or to place a value on your business goodwill, brand or management incentives. We have a number of valuation experts within our Corporate Finance & Tax Teams who can work with you to provide robust valuations and impairment reviews, providing expert opinions or obtaining clearance from HMRC as appropriate.
Internationally Mobile Employees
Hawsons also offer services to employers with employees working around the world, liaising with other HLB international member firms where necessary.
The tax position for internationally mobile employees can be complex with the need to deal with different countries’ tax systems which are often structured in very different ways. We can help to take the stress of this compliance burden away from employers and their employees leveraging off the HLB International network of member firms.
Some of the areas in which we can offer help include; advising on the employer’s payroll and social security obligations, preparing tax equalisation calculations, registering and running a payroll, UK and overseas tax advice for the employee and assistance with registering and completing tax returns. We can also offer advice in other typical problem areas for mobile employees such as share schemes, pensions, tax investigations and tax efficient investments.
Hawsons provides a range of tax and financial reporting services to corporate clients. It has particular value in circumstances where your existing service provider is subject to ethical restrictions and therefore unable to give you the help you need. Alternatively, you may be a Finance Director struggling to find the time or resource to meet your financial reporting targets.
We are able to provide theses services throughout the UK and the rest of the world through our membership of HLB International, a network of independent professional accounting firms in 130 countries. Our clients receive an integrated and seamless service for inbound and outbound businesses alike. To highlight just some of the areas of expertise of the HLB UK independent member firms, we have devised a ‘Tax and Financial Reporting’ brochure aimed at Finance Directors (FD) of large and multinational companies.
Our services are not just limited to these areas but hopefully, it will give an idea of how we might be able to help your company, by relieving some compliance pressures as well as identifying opportunities for potential savings.
In 2018, the Hawsons Corporate Finance team had the pleasure of supporting P.A. Jewellery Limited, a well-known retail business in Sheffield, in their transition to Employee Ownership. The founding family were keen to find a suitable succession strategy, whilst providing a secure future for the company and their employees.
Key Benefits of Moving to Hawsons
Take time to get to know you, your business and your aims
Tax planning and advice
Partner-led service tailored to your specific needs
A one stop shop of specialist services available as needed
Responsive and available when needed
No unexpected bills