Financial Reporting Services

For 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

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Are you a large or international company?

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Are you experiencing time or resourcing constraints?

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Are you experiencing auditor independence issues?

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.

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.

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.

Find out more about our accountancy services

Assurance Services

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.

Find out more about our audit & assurance services

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.

Find out more about our R&D Tax Relief services

Find out more about our Patent Box services

VAT Services

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.

Find out more about our VAT services

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
include:
• 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.

Find out more about our Corporate tax services

Project Advisory

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.

Find out more about our payroll services

Valuations

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.

Find out more about our Valuations service

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.

Our Approach

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 our range of tax and financial reporting 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.

Our Tax & Financial Reporting solution service

Case Studies

One of our clients is part of a group audited by a Top-10 firm. Hawsons assisted with routine compliance,
preparing the statutory financial statements and corporation tax returns. More specialised assistance is given on an ad-hoc basis, providing advice on specific accounting and tax treatment of potential transactions.

A client came to us having received grant funding which had specific requirements that required verification from a
suitably qualified accountant. Hawsons were able to provide the assurance required to allow our client to comply with the conditions of the grant.

Our client engaged Hawsons to perform agreed-upon procedures, looking specifically at the systems and controls in place around their payroll function. The feedback provided as part of the report enabled our client to identify weaknesses in their systems and provided suggestions for commercial solutions to address them.

We were approached to act for a company that were previously audited by a Big-4 firm and engaged Hawsons to prepare their statutory financial statements under FRS 101 as a key member of the finance team had left. Hawsons were able to prepare the financial statements from the accounting records and meet the tight deadlines
imposed by the auditors.

Our client is part of a group audited by a Big-4 firm, Hawsons assisted by providing assistance with the preparation of corporation tax computations and the iXBRL tagging of financial statements.