Newport Accountants for Manufacturers, Logistics Companies and Growing Welsh Businesses

Newport has a substantial and varied accountancy market serving sole traders, owner-managed businesses, manufacturers, construction companies, logistics operators, property organisations, charities and internationally connected corporate groups.

The city’s position on the M4 corridor gives local businesses direct access to Cardiff, Bristol, the South West of England and the wider South Wales economy.

Newport also benefits from port and distribution infrastructure, established industrial estates, continuing city-centre regeneration and a growing collection of technology, professional-services and knowledge-based businesses.

These organisations can have very different financial requirements.

A sole trader or independent consultant may primarily require digital bookkeeping, Making Tax Digital support and an accurate Self Assessment return.

A limited company will normally have additional responsibilities involving statutory accounts, Corporation Tax, payroll, VAT and filings at Companies House.

Company directors may also need advice concerning salary, dividends, pension contributions, employee benefits and the amount of cash that should remain available within the business.

The balance visible in a company bank account does not necessarily represent money that can safely be withdrawn or spent.

Part of it may already be committed to VAT, Corporation Tax, payroll, suppliers, loan repayments or planned investment.

Directors must also distinguish company money from personal income.

Amounts withdrawn may represent salary, dividends, expenses, loans or the repayment of money previously introduced into the company. Each category has different accounting, tax and documentation requirements.

A dividend should only be declared where sufficient distributable profits exist.

The decision should therefore be supported by current financial information rather than the amount visible in the company’s bank account.

As an organisation develops, annual accounts become only one part of the financial information its directors require.

Monthly or quarterly management accounts can help leadership understand current profitability, margins, customer debts, stock, work in progress, overheads and future funding requirements.

A business can report an accounting profit while still experiencing significant cash-flow pressure.

Customers may take several weeks to settle invoices, while employees, suppliers, lenders and tax authorities must be paid according to fixed timetables.

Growth can intensify that pressure where additional workers, equipment, vehicles, stock or premises must be funded before the resulting customer income is received.

Newport’s manufacturing and engineering economy creates particularly demanding accounting requirements.

Manufacturers may need reliable information concerning raw materials, work in progress, finished goods, machinery investment and profitability by product, customer or contract.

Stock should be valued consistently, with obsolete, damaged and slow-moving items identified.

An overstated stock balance can make a company appear more profitable than it is and distort both management decisions and tax calculations.

A manufacturer supplying automotive, aerospace, construction, energy or industrial customers may incur substantial expenditure before receiving payment.

Regular management accounts can help directors understand whether increasing turnover is producing adequate margins and whether the business has enough working capital to accept additional orders.

Manufacturing companies investing in plant, machinery, production software or technical development may require advice concerning capital allowances and research and development tax relief.

Eligibility for innovation-related relief should be assessed according to the actual scientific or technological work undertaken and the qualifying expenditure incurred.

It should not be assumed simply because the company operates in manufacturing, engineering, software or another technical sector.

Newport’s port, motorway and rail connections support a substantial logistics, warehousing, wholesale and distribution economy.

Transport businesses may require reporting concerning vehicles, fuel, repairs, drivers, subcontractors and profitability by route, customer or contract.

Warehouse and fulfilment companies may need information concerning labour, premises, equipment, stock movements and customer-service agreements.

A logistics business can generate substantial turnover while operating on relatively narrow margins.

Small changes in fuel, wages, insurance or vehicle costs can therefore have a significant effect on profitability.

Regular contract and customer analysis can help management identify whether pricing continues to reflect the true cost of delivering the service.

Importers and exporters may require assistance with foreign currencies, customs documentation, import VAT and transactions with overseas suppliers or customers.

The accounting system should reconcile customs declarations, duty and import VAT with purchases and payments rather than treating these as disconnected processes.

Construction and property remain important parts of Newport’s economy, supported by residential development, commercial investment and continuing regeneration.

Contractors and subcontractors may require support with the Construction Industry Scheme, payroll, retentions, project reporting and the VAT domestic reverse charge.

A construction company can report an accounting profit while still experiencing cash pressure because labour and materials must be funded before invoices or retained amounts are paid.

Management information should therefore identify the amount tied up in work in progress and customer debts as well as the reported profit attributed to each project.

Property investors, developers and residential management companies may require advice concerning ownership structures, VAT, capital allowances, service-charge reporting and taxes arising when property is acquired, transferred or sold.

Welsh property transactions may be subject to Land Transaction Tax rather than Stamp Duty Land Tax.

The treatment depends on the type of property, the purchaser and the wider transaction.

Advice is generally more useful before contracts and finance arrangements are completed than after the transaction has become legally binding.

Newport also supports a substantial collection of professional practices, including solicitors, consultants, surveyors, architects and healthcare providers.

Professional-services firms may need to monitor work in progress, staff utilisation, customer balances and profitability by client or department.

Legal practices have additional responsibilities concerning client money and the Solicitors Regulation Authority’s Accounts Rules.

Their accounting systems must distinguish money belonging to the firm from funds held on behalf of clients.

The accountant may also be required to prepare an independent accountant’s report where the relevant conditions apply.

Healthcare professionals have specialist financial arrangements of their own.

General practitioners, consultants, dentists, pharmacists and care organisations may require assistance with partnerships, NHS and private income, associates, payroll, pensions and eventual succession or sale.

Technology and research-led businesses may require support with financial forecasts, investment, employee share arrangements and research and development relief.

An early-stage company may operate at a monthly loss while holding cash from investors or grants.

Its directors therefore need to monitor burn rate, cash runway and progress against the assumptions presented during the funding process.

Charities, social enterprises and community organisations operate within reporting and governance frameworks that differ from those applying to ordinary commercial companies.

Their accountants may need to understand restricted funds, grants, reserves, trustee responsibilities and whether the organisation requires an independent examination or statutory audit.

Grant-funded organisations should maintain records capable of showing how each award has been used and whether expenditure satisfies the funding conditions.

The seven firms in this guide represent different parts of Newport’s accountancy market.

Paul Phillis & Co provides tailored accounting, payroll, tax and management-accounting support for owner-managed companies ranging from microbusinesses to organisations with substantial turnover.

Guilfoyle Sage combines accounts, audit, payroll, tax planning and business advice through a longstanding independent practice based at Gold Tops.

Norton Accountancy supports startups and SMEs through accounts, bookkeeping, payroll, VAT, tax planning, management accounts and flexible outsourced finance functions.

Evans Entwistle provides accounting, tax, payroll, consulting and corporate-finance advice from its Newport head office, with particular relevance to ambitious owner-managed businesses.

Ellis Lloyd Jones combines cloud accounting, statutory audit, business tax, Solicitors Accounts Rules work and connected financial-planning support through an established Park Square practice.

Walter Hunter provides substantial independent accounting, external audit, risk assurance, charity, payroll, VAT and business-advisory services from its Bridge Street office.

UHY Hacker Young offers one of Newport’s broadest multidisciplinary propositions, covering accounting, audit, corporate and personal tax, corporate finance, payroll, company secretarial work and wealth management.

No accountant can responsibly guarantee a predetermined tax saving, funding decision or commercial outcome without understanding the client’s complete circumstances.

Legitimate planning should reflect current legislation, reliable records and the wider financial consequences of any proposed arrangement.

How we selected the accountants

The firms were considered according to their current Newport presence, professional credentials, published services, sector experience and the types of client they appear equipped to support.

The selection includes accountants working with:

• Sole traders and self-employed professionals
• Startups and small limited companies
• Owner-managed and family businesses
• Manufacturers and engineering companies
• Logistics, transport and warehousing businesses
• Importers, exporters and wholesalers
• Construction contractors and subcontractors
• Property investors and developers
• Technology and research-led businesses
• Solicitors and professional practices
• Healthcare and medical professionals
• Retail and ecommerce companies
• Hospitality and leisure businesses
• Charities and not-for-profit organisations
• UK subsidiaries of international groups
• Companies requiring statutory audit
• Businesses raising debt or equity finance
• Owners preparing for succession or a company sale
• Companies requiring outsourced finance support
• Organisations requiring transaction or corporate-finance advice

We also considered what each practice provides beyond annual accounts and tax returns.

Depending on the firm, this may include bookkeeping, payroll, management accounts, cloud accounting, outsourced finance functions, statutory audit, Solicitors Accounts Rules reporting, charity assurance, business valuations, corporate finance, financial planning and international tax support.

The firms are not presented as interchangeable.

Some are particularly accessible to sole traders and smaller owner-managed companies wanting a direct relationship with a consistent local adviser.

Others are structured for substantial audits, charities, professional practices, international groups and transactions requiring several specialist teams.

Paul Phillis & Co

Paul Phillis & Co is a firm of chartered accountants with its head office on Corelli Street in Newport.

The practice was incorporated in 2007 and supports businesses throughout the UK, ranging from small organisations with annual turnover of a few thousand pounds to companies generating more than £40 million.

Its service is designed around owner-managed businesses that want experienced accounting and tax support adapted to their individual requirements.

The firm’s team includes specialists across accounts preparation, management accounts, payroll, taxation and employee-benefit reporting.

For a startup or smaller company, Paul Phillis & Co can help establish the basic accounting and compliance processes required from the beginning.

A founder may need to decide whether to operate as a sole trader, partnership or limited company.

The structure affects legal responsibility, administration, ownership, taxation and the way money can be withdrawn.

Once the structure has been selected, the firm can help establish bookkeeping, payroll, VAT and annual reporting processes appropriate to the business.

For a limited company, Paul Phillis & Co can prepare statutory accounts and Corporation Tax returns.

The firm can also assist directors with Self Assessment, benefits in kind and the accounting treatment of money taken from or introduced into the company.

Directors should understand whether withdrawals represent salary, dividends, expenses or a loan.

Incorrect treatment can affect both the accounts and the individual’s tax position.

The practice provides management accounts for businesses requiring more frequent information.

A management pack may include profit and loss reporting, customer balances, supplier liabilities and cash-flow information.

The report can be adapted around the organisation’s commercial activity.

A manufacturer may require margin and stock analysis, while a professional-services company may focus on staff costs and profitability by client.

Regular management information can also help directors determine whether the company has sufficient profits to support proposed dividends.

Paul Phillis & Co manages payroll for employers with weekly, fortnightly, four-weekly or monthly pay cycles.

Its payroll services can include PAYE calculations, Real Time Information submissions, statutory payments, workplace pensions and year-end forms.

The firm can also assist with Employment Payment Summaries and the recovery of Construction Industry Scheme deductions against a limited company’s PAYE liabilities where appropriate.

This may be particularly relevant to construction contractors and subcontractors.

P11D and benefits-in-kind support is available for employers providing company vehicles, medical insurance or other taxable benefits.

The firm also prepares Self Assessment returns for company directors, landlords, higher earners and investors.

A personal return may need to include employment, dividends, property income, investments and capital disposals.

Paul Phillis & Co publishes a detailed fee structure for many common services.

This can help businesses understand how compliance, payroll and advisory work may be charged before the engagement begins.

Its broad client range and emphasis on tailored service may suit owner-managed businesses wanting substantial technical experience without the structure of a large national firm.

Services include

• Business-startup support
• Limited company accounts
• Sole trader and partnership accounts
• Corporation Tax
• Self Assessment
• Management accounts
• Bookkeeping support
• VAT compliance
• Weekly and monthly payroll
• PAYE and Real Time Information
• Workplace-pension support
• Construction Industry Scheme payroll adjustments
• P11D and benefits-in-kind reporting
• Director remuneration advice
• Landlord tax returns
• Registered-office services
• Company secretarial support
• Tax planning

Best suited to: Owner-managed businesses requiring tailored accounts, payroll, tax and management reporting from an established Newport firm.

Pros:

• Newport head office
• Incorporated in 2007
• Supports businesses with turnover from approximately £5,000 to more than £40 million
• Tailored owner-managed business service
• Strong payroll and employee-benefit capability
• Management-accounting support
• Construction Industry Scheme payroll experience
• Assistance for landlords, directors and investors
• Published fees for many common services
• Direct and relationship-led approach

Visit Paul Phillis & Co

Guilfoyle Sage

Guilfoyle Sage is an independent accountancy practice based at Gold Tops in Newport.

The firm provides accounts, taxation, payroll, audit and business-advisory services to individuals and businesses across South Wales.

Its approach is centred on personalised and proactive support, with services adapted to the client’s structure and objectives.

For a sole trader, partnership or limited company, Guilfoyle Sage can prepare annual accounts and the associated tax returns.

Annual accounts satisfy reporting and tax requirements, but they can also provide a starting point for discussing profitability, cash flow and the future development of the business.

Where the client requires more current information, bookkeeping and management reporting can help identify changes before the accounting period has ended.

The firm provides payroll through a dedicated department.

Weekly or monthly payroll support can include PAYE, National Insurance, statutory sick pay, statutory maternity pay, student-loan deductions and other payroll responsibilities.

Employers must continue supplying accurate and timely information concerning employees, salaries, hours, starters, leavers and statutory leave.

Outsourcing the calculations and reporting can nevertheless reduce administrative pressure and provide continuity.

Guilfoyle Sage undertakes audit work.

Its audit service is intended to provide confidence in the financial statements and examine the effectiveness of accounting procedures and internal controls.

An audit may be required because of a company’s size, legal form, governing documents or the expectations of investors, lenders and other stakeholders.

The audit process involves understanding the organisation, identifying financial-reporting risks and testing the evidence supporting material transactions and balances.

The firm’s tax services cover compliance and planning for individuals and businesses.

In addition to Self Assessment and company-tax responsibilities, the practice advises on Capital Gains Tax, inheritance tax, employee remuneration, benefits in kind and trusts.

For an owner-managed company, corporate and personal taxation are often closely connected.

A decision involving salary, dividends, pensions, property or succession can affect both the organisation and its owners.

Advice is generally most useful before the transaction or ownership change has been completed.

Guilfoyle Sage also provides business-advisory support.

A growing company may require forecasts, assistance interpreting its accounts or guidance concerning finance and expansion.

The accountant can help management understand whether growth is improving profitability and whether sufficient working capital is available to support the plan.

Its longstanding independent presence may appeal to businesses and families wanting accounts, audit, payroll and tax handled through one Newport team.

Services include

• Sole trader and partnership accounts
• Limited company accounts
• Corporation Tax
• Self Assessment
• Bookkeeping
• Management accounts
• Payroll bureau
• PAYE and statutory-payment support
• VAT
• Audit and assurance
• Personal-tax planning
• Capital Gains Tax
• Inheritance-tax advice
• Benefits-in-kind advice
• Employee-pay arrangements
• Trust taxation
• Business advisory
• Business-growth support

Best suited to: Individuals, family businesses and established SMEs wanting personalised accounting, audit, payroll and tax planning.

Pros:

• Established Newport practice
• Central Gold Tops office
• Personalised and proactive service
• Provides accounts, tax and business advice
• Dedicated payroll department
• Statutory audit capability
• Capital Gains Tax and inheritance-tax expertise
• Trust and employee-benefit advice
• Supports individuals and multiple business structures

Visit Guilfoyle Sage

Norton Accountancy

Norton Accountancy is an established independent practice with offices in Newport, Cardiff, Bristol and London.

Its Newport office is based on Enterprise Way near the regenerated dock area and is accessible from the M4 and city centre.

The firm supports startups, owner-managed businesses and established companies through accounts, bookkeeping, payroll, tax planning, management accounts, company secretarial work and outsourced finance services.

Norton Accountancy also offers its Newport service in Welsh, providing an additional option for clients who prefer to discuss their business affairs bilingually.

For a startup, the firm can assist with company formation, tax registrations and the introduction of suitable accounting systems.

A founder should understand the difference between operating as a sole trader and forming a limited company.

The structure affects legal responsibility, ownership, taxation, administration and how money can be withdrawn.

Norton Accountancy prepares accounts for sole traders, partnerships and limited companies.

Its company-accounting service covers statutory accounts for Companies House and the information required for the associated tax return.

Reliable accounts depend on complete bookkeeping records and a clear separation between business and personal transactions.

The firm provides bookkeeping and VAT support for clients wanting routine financial administration handled externally.

A business may outsource the entire process or retain part of the work internally while asking Norton Accountancy to review the records and prepare returns.

VAT support can include registration, bookkeeping and return preparation.

Property, construction, international and partially exempt activities can require specialist advice before transactions are completed.

Payroll services are tailored to the employer’s workforce and reporting requirements.

The service can reduce the burden created by PAYE, National Insurance, statutory payments and changing employment legislation.

Employers must nevertheless continue providing accurate information concerning wages, hours, benefits, starters and leavers.

Norton Accountancy’s outsourced finance function is one of its most distinctive services.

The firm can provide staff to carry out bookkeeping, issue invoices, chase customer debts, pay suppliers, prepare VAT returns and communicate with the bank.

The arrangement can be tailored to supplement an existing employee or provide a broader external finance department.

A growing business may also require management accounts and regular tax or commercial advice.

Clear controls remain essential.

Directors should retain appropriate payment approval, understand the financial reports and know which responsibilities are performed by the outsourced team.

The firm’s flexible outsourced model may be useful to growing manufacturers, logistics businesses and service companies that need stronger financial processes without immediately recruiting an entire internal department.

Services include

• Business-startup advice
• Company formation
• Sole trader and partnership accounts
• Limited company accounts
• Corporation Tax
• Self Assessment
• Bookkeeping
• VAT registration and returns
• Payroll
• Tax compliance and planning
• Management accounts
• Company secretarial services
• Registered-office support
• Outsourced finance functions
• Customer invoicing and credit control
• Supplier-payment administration
• Business advice and consultancy
• Welsh-language accountancy service

Best suited to: Startups and growing SMEs wanting flexible accounts, payroll, tax and outsourced finance support.

Pros:

• Newport office near the regenerated docks
• Wider offices in Cardiff, Bristol and London
• Broad accounts, bookkeeping and tax capability
• Fully tailored payroll service
• Flexible outsourced finance function
• Management-accounting support
• Company-formation and secretarial services
• Welsh-language service available
• Accessible location with parking
• Free initial consultation

Visit Norton Accountancy Newport

Evans Entwistle

Evans Entwistle is a practice of chartered accountants and business advisers with its head office at Venta House in Newport.

The firm also operates from Bristol and serves clients across South Wales, the South West and the wider UK.

Its services include accountancy, taxation, payroll, business consulting and corporate finance.

The practice’s combination of compliance and commercial advice may be particularly relevant to owner-managed businesses that expect their requirements to develop beyond annual accounts and tax returns.

For a startup or established company, Evans Entwistle can provide bookkeeping, annual accounts, Corporation Tax, payroll and VAT support.

The firm also assists contractors and businesses using cloud-accounting software.

A startup may require help selecting its structure, registering with HMRC and establishing financial records.

An established organisation may need to improve its accounting process because the original system no longer provides the information required by management.

The firm supports businesses with accounting software and bookkeeping.

Cloud systems can connect bank transactions, invoicing, purchases, expenses and reporting while allowing the accountant and client to access the same records.

Automation should be combined with appropriate review.

Bank accounts need to be reconciled, supporting documents retained and unusual entries investigated before the information is relied upon.

Evans Entwistle provides business-tax and private-client services.

For owner-managed businesses, the company’s tax position and the owner’s personal affairs can be closely connected.

Advice may involve salaries, dividends, pension contributions, capital expenditure, property and succession.

The business should retain sufficient cash to meet tax, payroll and commercial commitments rather than concentrating only on extracting the maximum immediate amount.

The firm’s payroll service can help employers manage PAYE, statutory deductions and reporting.

Contractor-accounting services are also available for individuals and companies working through project or consultancy arrangements.

Contractors may require support with expenses, payroll, VAT, personal tax and the separation of company and private expenditure.

Evans Entwistle provides broader business advisory and consulting.

A company considering growth may require financial forecasts, improved reporting or assistance evaluating a proposed investment.

The adviser can help management identify whether the planned activity is affordable and how it may affect profit and cash.

Corporate finance is a significant part of the firm’s service.

The team can assist clients with business sales, acquisitions, valuations, fundraising and transaction planning.

A seller may require help improving management information, presenting sustainable earnings and organising records before due diligence begins.

A purchaser may need independent analysis of the target’s profits, debt, working capital and financial risks.

Evans Entwistle’s Newport head-office status and commercial-advisory focus may suit ambitious owner-managed businesses wanting local access to corporate-finance support.

Services include

• Business-startup support
• Annual accounts
• Bookkeeping
• Accounting software
• Payroll
• VAT
• Corporation Tax
• Business-tax advice
• Private-client tax
• Contractor accounting
• Management reporting
• Cash-flow forecasting
• Business advisory
• Commercial consulting
• Corporate finance
• Business valuations
• Acquisitions and disposals
• Fundraising support
• Succession and exit planning

Best suited to: Ambitious owner-managed businesses requiring accounting, tax, consulting and corporate-finance support from a Newport-headquartered firm.

Pros:

• Head office based in Newport
• Chartered accountancy and business-advisory practice
• Serves South Wales, the South West and wider UK
• Provides accounting, tax and payroll
• Cloud-software and bookkeeping support
• Contractor-accounting capability
• Commercial business consulting
• Dedicated corporate-finance service
• Valuation and transaction expertise
• Wider Bristol presence

Visit Evans Entwistle

Ellis Lloyd Jones

Ellis Lloyd Jones is a firm of chartered accountants based at Park Square in Newport.

The practice provides accounting, statutory audit, business tax, payroll and financial services to businesses and individuals across Newport and South Wales.

Its service combines cloud-based financial processes with direct advice from experienced accounting, audit and tax professionals.

For a startup or established business, Ellis Lloyd Jones can build an accounting service around the client’s activities and internal resources.

A smaller company may require bookkeeping, payroll, VAT, annual accounts and Corporation Tax.

A more developed organisation may maintain its own finance team while using the firm for review, audit, management advice and specialist tax work.

The practice’s accounting services are cloud based.

Online systems can improve efficiency and allow the client and accountant to work from the same financial information.

The accounting setup should reflect how the organisation operates.

A professional practice may need reporting concerning work in progress and profitability by client, while a manufacturer may require stock, production and contract analysis.

Ellis Lloyd Jones provides bookkeeping support for businesses wanting records maintained externally or reviewed periodically.

Current records can help directors understand customer debts, supplier liabilities, available cash and upcoming tax payments.

They also create a stronger basis for management accounts and forecasts.

The firm undertakes statutory audit through its registered audit practice.

Its audit leadership has extensive experience and continuing involvement in professional accounting and auditing matters.

An audit may be required because of an organisation’s size, ownership, governing documents or stakeholder expectations.

The firm also undertakes assignments similar to audit, including Solicitors Regulation Authority accountant’s reports.

Legal practices must maintain accurate records separating office and client money.

The accountant’s work examines whether the practice has complied with relevant reporting requirements and whether any matters need to be reported.

Business-tax services cover compliance and planning.

Ellis Lloyd Jones can help companies understand their tax obligations and consider the financial effect of remuneration, investment and transactions.

Advice should be obtained before major ownership changes, acquisitions or property transactions are completed.

The firm’s connected financial-services division provides advice concerning investments, retirement and inheritance-tax planning.

This can be particularly useful to business owners whose personal wealth is concentrated in company shares, pensions and property.

The relationship can therefore consider company performance, owner remuneration and longer-term financial security together.

Services include

• Annual accounts
• Cloud accounting
• Bookkeeping
• Payroll
• VAT
• Corporation Tax
• Business-tax advice
• Personal-tax planning
• Audit and assurance
• Solicitors Regulation Authority accountant’s reports
• Management information
• Business advisory
• Accounting-system support
• Investment advice
• Retirement planning
• Inheritance-tax planning
• Business-owner financial planning

Best suited to: Owner-managed businesses, legal practices and private clients requiring cloud accounting, audit, tax and connected financial planning.

Pros:

• Established Park Square office
• ICAEW chartered accountancy practice
• Registered statutory audit capability
• Fully cloud-based accounting services
• Experienced audit leadership
• Solicitors Accounts Rules expertise
• Business and personal-tax support
• Connected financial-services division
• Retirement and inheritance planning
• Strong Newport business-community involvement

Visit Ellis Lloyd Jones

Walter Hunter

Walter Hunter is a leading independent firm of accountants and professional advisers based on Bridge Street in Newport.

The practice supports unincorporated businesses, companies, charities and other organisations through accounting, taxation, payroll, VAT, management accounts, external audit and risk assurance.

Its service combines statutory compliance with advice concerning the wider financial and commercial issues faced by the client.

For a sole trader, partnership, LLP or limited company, Walter Hunter can prepare annual accounts and the associated tax returns.

The firm also works with community-interest companies, charitable incorporated organisations and local-government bodies.

This range makes it relevant to conventional commercial businesses as well as organisations with different legal and reporting structures.

Walter Hunter provides payroll, VAT and management accounts.

Management reporting can help directors and trustees understand current income, expenditure, customer debts, supplier balances and cash.

A useful report should reflect the organisation’s activities.

A manufacturer may require stock and margin information, while a charity may need reporting by restricted fund, project or grant.

The practice provides external audit and risk assurance.

Its audit clients include commercial organisations and charities.

An audit provides an opinion on whether the financial statements are materially accurate, while wider risk-assurance work can examine systems, controls and governance.

The firm’s charity specialists undertake audits and independent examinations.

They also advise on VAT, Gift Aid, the establishment of new charities and grant administration.

Charities need to distinguish restricted and unrestricted income and understand whether reserves are sufficient to support future commitments.

Grant-funded organisations should maintain evidence showing that expenditure meets the conditions of the award.

Walter Hunter’s owner-managed business work includes audit, accounting, taxation, forecasts and accounting-system support.

A growing company may need a forecast when applying for finance, purchasing equipment or considering additional employees.

The assumptions should reflect expected sales, customer-payment terms, staffing, operating costs and debt commitments.

The firm can also assist businesses using Sage and other accounting systems.

The objective should be to produce reliable information for management rather than simply install software.

Walter Hunter’s broad assurance capability and experience with several organisational structures may particularly suit established businesses, charities and community organisations wanting independent local advice.

Services include

• Sole trader and partnership accounts
• Limited company accounts
• LLP accounts
• Charity and CIO accounts
• Community-interest company accounts
• Local-government annual returns
• Corporation Tax
• Personal tax
• Payroll
• VAT
• Management accounts
• Financial forecasts
• Accounting-system support
• External audit
• Risk assurance
• Charity audits
• Independent examinations
• Gift Aid and charity VAT advice
• Grant administration
• Business advisory

Best suited to: Established owner-managed companies, charities and community organisations requiring substantial accounting, audit and risk-assurance support.

Pros:

• Independent Newport practice
• Central Bridge Street office
• Broad commercial and not-for-profit client base
• External audit and risk-assurance capability
• Dedicated charity expertise
• Independent examinations and grant support
• Management accounts and forecasts
• Supports numerous legal and organisational structures
• Accounting-system advice
• Locally based senior advisers

Visit Walter Hunter

UHY Hacker Young

UHY Hacker Young operates a major Newport office in the city’s waterfront area.

The practice has roots in Gwent extending to the 1930s, when the local firm was known as White Williams and Co.

Today, the Newport operation is a three-partner practice offering audit, accountancy, personal and corporate tax, corporate finance, financial planning, payroll, company secretarial and outsourced business services.

Its membership of the wider UHY network gives Newport clients access to national and international professional resources while retaining a locally based team.

For a smaller or growing business, UHY can provide annual accounts, bookkeeping, VAT, payroll and Corporation Tax.

As the organisation develops, the relationship can expand into statutory audit, international tax, transaction support and outsourced finance.

This can be useful to an owner-managed company that expects its requirements to become more complex without wanting to change adviser at each stage.

UHY undertakes statutory audit and wider assurance work.

Its network audits private companies, listed businesses, charities and other organisations operating under different reporting frameworks.

A substantial audit may involve several legal entities, overseas subsidiaries, stock, property, pensions, information systems and significant accounting estimates.

The audit team must understand the company’s operations and financial risks before determining how to test material balances and transactions.

The firm’s corporate-tax and VAT specialists advise on domestic, indirect and international matters.

Manufacturers and logistics businesses may require assistance with capital expenditure, research and development, imports, exports and international transactions.

A foreign-owned Newport subsidiary may need UK statutory accounts and tax compliance alongside reporting prepared for an overseas parent.

Transactions between connected companies can create transfer-pricing and documentation requirements.

UHY’s outsourced business services include payroll and company secretarial support.

A company may also require assistance maintaining accounting records and producing reports without employing a complete internal finance department.

The responsibilities retained by management should be clearly documented, particularly around payment approval and access to financial systems.

Corporate finance is another major part of the UHY service.

The firm supports fundraising, acquisitions, company sales, valuations and transaction due diligence.

A purchaser may require financial, tax, operational or commercial due diligence concerning the target organisation.

A seller may need help preparing reliable information and explaining sustainable earnings before approaching prospective buyers.

The wider UHY network has experience supporting transactions and capital-markets activity across several countries.

The Newport office also provides financial planning and wealth management.

Business owners and private clients can therefore consider pensions, investments, retirement and succession alongside their accounting and tax affairs.

UHY’s breadth makes it particularly suitable for established and ambitious organisations requiring audit, tax, corporate finance and personal planning through one multidisciplinary practice.

Services include

• Annual and management accounts
• Bookkeeping
• Payroll
• Company secretarial services
• Outsourced business services
• Audit and assurance
• Corporation Tax
• Personal tax
• VAT and indirect tax
• International tax
• Transfer pricing
• Business advisory
• Charity and not-for-profit services
• Corporate finance
• Fundraising
• Business valuations
• Acquisitions and company sales
• Financial due diligence
• Transaction support
• Financial planning
• Pensions and investments
• Wealth management
• International business support

Best suited to: Established SMEs, charities and international organisations requiring broad accounting, audit, tax, corporate-finance and wealth-management capability.

Pros:

• Major Newport waterfront office
• Local roots extending to the 1930s
• Three-partner Newport practice
• Comprehensive audit and accountancy services
• Corporate, personal and international-tax expertise
• Payroll and company secretarial support
• Corporate-finance and transaction teams
• Charity and not-for-profit experience
• Connected financial planning and wealth management
• National and international reach through UHY

Visit UHY Hacker Young Newport

Which Newport accountant should you choose?

The appropriate firm depends on the client’s size, sector, internal resources and expected development.

Paul Phillis & Co may suit owner-managed companies wanting tailored accounts, payroll, management reporting and tax support from a firm serving businesses across a broad range of turnover.

Guilfoyle Sage is particularly relevant to individuals, family companies and established SMEs wanting accounts, audit, a dedicated payroll department and broader personal-tax planning.

Norton Accountancy may suit startups and growing businesses wanting flexible bookkeeping, management accounts and an outsourced finance function.

Its Welsh-language service also provides an additional option for bilingual clients.

Evans Entwistle is positioned for ambitious owner-managed companies requiring business consulting, tax and corporate-finance support alongside routine accounting.

Ellis Lloyd Jones may be particularly relevant to legal practices, businesses wanting cloud accounting and owners seeking connected retirement, investment and inheritance planning.

Walter Hunter offers one of Newport’s stronger independent propositions for charities, community organisations and established owner-managed companies requiring external audit, risk assurance and management advice.

UHY Hacker Young provides the broadest multidisciplinary service in this selection.

It may suit established SMEs, international organisations, charities and companies requiring audit, corporate finance, transaction support and wealth management.

Before appointing an accountant, the client should establish precisely what is included within the proposed fee.

Bookkeeping, payroll, VAT returns, annual accounts, Corporation Tax, Self Assessment, management reporting, audit and advisory meetings may be priced as separate services.

The engagement should identify who is responsible for maintaining records, approving transactions and supplying information.

Outsourcing bookkeeping or the wider finance function does not remove the directors’ responsibility for understanding the organisation’s financial position and maintaining appropriate controls.

Businesses requesting management accounts should agree what the reports will contain and how quickly they will be delivered after each month or quarter.

A manufacturer may require information concerning raw materials, work in progress, finished stock and margins by product or customer.

A logistics company may need reporting on vehicles, fuel, drivers, subcontractors and profitability by route or contract.

Manufacturers and engineering companies should appoint advisers familiar with stock valuation, machinery investment, capital allowances, research and development and long customer-payment terms.

Logistics and transport businesses may require contract reporting, vehicle-cost analysis, payroll and careful working-capital management.

Importers and exporters should look for experience with customs records, foreign currencies, import VAT and cross-border transactions.

Construction businesses should ensure that the proposed accountant understands CIS, retentions, project reporting, payroll and the VAT domestic reverse charge.

Property investors and developers should obtain advice concerning Land Transaction Tax, ownership structures, VAT, capital allowances and taxes arising when property is acquired or sold.

Technology and research-led businesses should discuss research and development relief, investment schemes and employee share incentives before claims, investment documents or option grants are completed.

Solicitors should confirm that the proposed team has direct experience with the SRA Accounts Rules and accountant’s reports.

Healthcare professionals should appoint advisers familiar with partnership accounts, NHS and private income, associates, pensions and practice transactions.

Charities and community organisations should establish whether they require accounts preparation, an independent examination, grant assurance or statutory audit.

They should also ensure that the proposed adviser understands restricted funds, reserves, trustee responsibilities and the reporting framework applying to the organisation.

International businesses should confirm whether the accountant can coordinate overseas reporting, transfer pricing, cross-border payroll, global mobility and tax compliance across every relevant jurisdiction.

Family-business owners should begin succession discussions before an immediate ownership transfer becomes necessary.

Leadership, valuation, funding, tax and the financial security of the existing owners may need to be considered over several years.

Companies planning investment, acquisition or sale should obtain advice early.

Reliable management information, organised statutory records and clearly documented ownership can materially improve the speed and credibility of due diligence.

Businesses facing financial pressure should also seek advice before the situation becomes critical.

The number of realistic refinancing, restructuring or recovery options may reduce as cash is exhausted and creditor action becomes more advanced.

The strongest accountancy relationship is one in which the adviser understands how the organisation operates, produces useful information at the right time and explains the financial consequences of important decisions before those decisions become difficult to change.

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