Public Sector Accounting
As the decision-maker at a public sector institution or company, you will know how vital this sector is. Public sector organisations have a duty to provide all public services in the UK from education to emergency services, healthcare, housing, and social care. As such, effectively managing the financial aspects of your institution or organisation is crucial.
Those in public sector entities will also know that governments, either local or central, and charities do not operate in the same way as corporations and private sector entities, and they have vastly different responsibilities. Usually, those in the public sector are not too concerned with standard financial accounting issues or issues that are more relevant to private sector accounting, like profit margins. Instead, you will likely have plenty of money passing through your accounts that will need to be spent, saved, and invested accordingly.
We understand that with public sector finances comes a myriad of challenges, some of which pertain to the legal requirements for public finances. Many of the challenges will also be specific to your organisation or institution, which is why our accounting practices and service delivery are tailored exactly to your needs.
Here at Williamson and Croft, we’ve helped education institutions, healthcare businesses, and social care services alike with their financial management. If you’re interested in one of our services or even if you need someone to guide you through the options, please get in touch with the team by emailing info@williamsoncroft.co.uk, or call us on 0161 399 0121 (Manchester office) or 0151 303 3112 (Liverpool office).
How can we help?
At Williamson & Croft, we are very familiar with the challenges faced by those in the public sector such as economic pressures, cuts in funding, and the constant need to ensure value for money is achieved.
Our public finance professionals can help you overcome these obstacles by ensuring you receive practical and specialist guidance at every step of the way. Our public finance accountants can provide support with:
Statutory audit services – Our audit team has extensive experience in providing efficient, partner-led and client-focused external audit services to companies owned and operated for the benefit of public sector bodies, whether these be research companies, property investment/development, or other special-purpose entities. We’ll ensure compliance is achieved and maintained with all regulatory requirements, whilst keeping quality and innovation at the heart of our service to provide additional value to our clients.
Financial and Tax Due Diligence – In all business decisions, you want to be confident that the route you are taking is as risk-free as possible. Our detailed due diligence investigations provide reassurance by identifying potential risks or issues in advance of a transaction and then providing practical recommendations to mitigate those risks. We have experience in dealing with the requirements of all key stakeholders in public sector investment in property or companies and in proposed mergers.
Tax advisory – It is important for public sector bodies to protect their funding and the monies of the parties that they serve by minimising any tax burden through legitimate tax planning – this is crucial for maintaining trust. This may involve undertaking an acquisition of an entity or property in a specific way or in claiming available tax reliefs or tax credits and our expert tax team can advise on all areas of corporation tax, VAT and SDLT and how they impact the public sector.
We understand that the public sector is unique, and each organisation has their own specialised ways of operating. Therefore, we ensure that the advice we give through our advisory services, and the range of business accounting services we offer are tailored to your needs, so that you receive the most effective support.
Our dedicated team of accountancy experts in Liverpool & Manchester are never more than a phone call or email away, and we are more than happy to offer our expert advice on how best to manage your requirements while complying with the varying rules and requirements of the public sector. Email info@williamsoncroft.co.uk to find out more.
Why Choose Williamson & Croft?
- We are an award-winning firm of accountants and tax advisors offering the full range of services to clients within the UK and beyond. This is highlighted by our 5* reviews, and the fact that we are highly recommended by so many of our clients and contacts.
- We understand that each client, business and property is unique, with their own commercial, financial, and legal barriers to overcome. We know how to navigate each and every situation that comes our way, always considering how we can add real value.
- We work with a wide array of real estate businesses from commercial and residential developers, institutional investors, lenders, property management and other professional service providers through to commercial and private landlords, providing them with key services covering accounting, tax, and advisory.
- We are easily found in Manchester and Liverpool and it would be great to arrange a meeting to discuss your business and for you to meet the team who will be assisting you.
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News
What are the tax implications of hybrid working?
The ongoing transformation toward hybrid models in the world of work, catalysed by the enduring impacts of the coronavirus pandemic, necessitates a thorough consideration of employment tax implications. As employees increasingly divide their work time between...
Autumn Statement 2023: In Summary
Chancellor Jeremy Hunt has this afternoon announced his Autumn Statement. He has cut taxes for businesses with what he describes as the ‘biggest tax cut in modern British history’. Hunt has also ushered in tax cuts for individuals, with the lowering of National...
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