Business Profile: D.R.E. & Co. Accountants
In the December 2021 issue of Local Ludlow, we caught up with Aaron Powis, Partner at D.R.E. & Co. Chartered Accountants in Ludlow…
Tell us about the business? We are an independent firm of chartered accountants originally established in 1957. With 11 Partners & Directors, our experienced and qualified team can provide a range of professional services for individuals, partnerships, LLPs, companies, charities and trusts across a variety of business sectors.
How many branches do you have, and where? We have six branches in total with offices in Oswestry, Shrewsbury, Ludlow, Newtown, Wrexham and Knighton.
How long have you been in Ludlow? The firm has operated in Ludlow since August 1997. Initially the office was located in the town centre, however when units at the Eco Park became available, we relocated to allow for easier access for both clients and staff.
Tell us about the team in Ludlow? We are fortunate to have a very strong team in the Ludlow office with many having started their accountancy career with us. Whilst the last 18 months have presented some significant challenges, we have continued to invest in the future of the Ludlow office by taking on a further two new trainees, bringing the total team to 13.
What services do you offer? We offer a broad range of services ranging from accounting, taxation and making tax digital compliance to more specialist advisory services such as corporate restructuring, succession and inheritance tax planning. We also offer payroll and audit services supported by our colleagues in our Shrewsbury and Oswestry offices.
If I was thinking of changing my accountants, how easy is it? The process itself should be relatively straightforward. Once you have found an accountant you wish to work with going forward you would need to notify your current accountant. The current accountant will issue a disengagement letter for you to sign providing them with authority to release any requested handover information to your new accountant. There should be no charge levied by the old accountant to gather and release the handover information. One thing to be very mindful of is timing. It is important that the process is not rushed and, ideally, you would not want to make a change if very close to a filing deadline.
What has been the biggest help to building up your business? Word of mouth and referrals from existing clients has been a big help in expanding our client base over the years. A large number of our clients have been with us for many years and in some cases, we have acted for several generations of the same family. Our focus is on building long-term relationships with our clients so that we can not only assist them with their more immediate compliance issues but help them plan for the future.
If someone was starting out in business, what advice would you give them? Seek advice early on and find a trusted advisor that you are comfortable working with. The early stages of starting a business are daunting and it is easy to not be able to see the wood for the trees. We work with businesses across multiple sectors and at all stages of their life cycle and can use this knowledge and experience to help guide new business owners.
Do I need an accountant? Not necessarily, but having a good accountant by your side can really add value to your business and also free up your most precious commodity, time, so that you can focus on doing what you do best.
Is there anything else you’d like our readers to know? HM Revenue & Customs are expanding the list of those caught by the Making Tax Digital ‘MTD’ legislation over the coming years. This will mean additional filing requirements and potentially significant changes to record keeping are needed for many. A new penalty system is also being introduced from April 2022. With all the changes on the horizon it is important for business owners and landlords to seek advice early on to make sure they are prepared.
Sum your business up in five words: Established, professional, approachable, trusted, local.
