Insight: Our Accountancy, Tax & Compliance service

Accountancy & Tax

Freeport Trust Company Limited possess the expertise and scope to provide a complete range of accountancy and tax services to ensure compliance with applicable legislation and regulation.

Our dedicated team of professionals have obtained their qualifications from either the Association of Chartered Certified Accountants (ACCA) or the Institute of Chartered Accountants of England and Wales (ICAEW). The team ensure our clients are provided with the right information to guarantee appropriate and effective decision making. Bookkeeping and accounting are integral components of any business and will provide accurate and consistent financial information, which enables the client to make an informed decision to reduce risks and maximise profits.

An effective accounting system can have a significant impact on a company’s productivity as well as its profitability. Equally, it can be important to determine the financial position of the underlying assets held within the trust, particularly in reference to any potential distributions. We therefore ensure that our clients obtain access to highly qualified professionals who are experienced in working to client expectations and ensuring that financial information is presented efficiently and clearly, whilst safeguarding compliance with a myriad of regulations encompassing accountancy, tax and VAT.

Our provision of services include:

  • Daily bookkeeping using a major accountancy software package.
  • Bank reconciliations
  • Preparation of quarterly or monthly management accounts
  • Preparation of annual statutory financial statements in accordance with generally accepted accounting principles (GAAP), including FRS102 and IFRS.
  • Preparation of cash flow forecasts, business plans and annual accounts.
  • Preparation and submission of statutory annual returns, VAT returns and both IOM and UK tax returns
  • VAT registration and administration.
  • Well established network of contacts for outsourcing requirements.

Compliance

Freeport Trust Company Limited provide highly qualified and professional directors for corporate entities, bringing governance and compliance expertise directly to the board. Our team is well adept at providing exceptional administration services within an applicable framework of regulation to ensure a consistent but balanced approach to good governance.

Our in house compliance team consist of professionals who have obtained qualifications by the International Compliance Association (ICA) and act independently from the board to ensure an integrous and sustainable service to protect our clients’ interests.

Our provision of services include:

  • Qualified directors and compliance professionals to ensure a high professional standard of corporate governance.
  • Liaising with regulators and applicable government bodies.
  • Preparation and management of regular board meetings.
  • Organisation and completion of effective minutes and resolutions.
  • Liaising and oversight with key advisors, tax consultants and legal counsel to ensure the appropriate drafting of corporate documentation and agreements.
  • Maintenance of company registers.
  • Application of international standards such as CRS, Economic substance, data protection and cyber security standards and policies.
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