Welcome to WBD Accountants

We are a firm of Chartered Accountants offering accountancy and business consultancy services to owner managed and family owned businesses.

Specialist Service

We offer a specialist service to businesses to provide a cost-effective, high value solution for all your financial needs. We can give you and your business assistance and helpful advice on a daily basis when required. Take a look at our services to discover how we can help your business grow. To access a wealth of information visit our resource centre or view our free factsheets.

HELPING BUSINESSES GROW AND SUCCEED

As part of our core aim of helping local businesses grow and succeed we offer the following planning and growth services amongst many more.

  • Business Structure planning service and support
  • Goal setting
  • Business budgeting
  • Business restructure and refinance
  • Mergers and Acquisitions – due diligence and support
  • Sale of business
  • Inheritance Tax planning and support
  • Workplace Pensions - Auto enrolment implementation support and guidance

AVN

WBD Accountants are founder members of AVN, an association of accountants committed to helping UK owner managed businesses become the most successful and enjoyable to run in the world. Click here to find out more about our added value services.


ServicesIndividuals & Businesses

We offer a range of compliance, added value and planning services to all our customers.

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Resources Interactive tools & factsheets

Our resources and factsheets are designed to help keep business owners aware of the latest changes in the financial world.

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1st Meeting Free!

We are only a quick phone call or email away so please don't hesitate to get in touch.

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The current hot topic

GDPR what it means for you

On 25 May 2018, the new General Data Protection Regulation (GDPR) will come into force. Information Commissioner’s Office (ICO) guidance confirms that a lack of knowledge will not be deemed an acceptable excuse for not complying with the the new law.

The GDPR replaces the existing Data Protection Act (DPA) 1998, and governs how individuals’ personal data is managed. It applies to all businesses in the EU. Even though the UK will be leaving the EU, it will not affect the commencement of the GDPR, which is set to be placed into UK law post-Brexit.

The GDPR is needed due to developments in internet and cloud technologies. There are now many ways to collect and store personal data. New measures are therefore required to ensure personal data is kept safe, and is only kept for legitimate purposes. All businesses, small and large will be required to comply with the GDPR.

The key principles of the GDPR

There are several key areas that you need to be aware of based on the fundamental principles of the GDPR.

The GDPR places a strong emphasis on accountability and transparency, and holds businesses accountable for safeguarding the collection, usage and storage of a client’s personal data. If you use third party software such as payroll and accounts packages, you will need to ensure these systems are GDPR compliant.

Businesses already compliant with the DPA will need to supply evidence of their compliance with the new GDPR. Businesses are required to identify a lawful basis for processing clients’ personal data: this must be processed fairly and accurately, and be kept in a form which permits the identification of data subjects for no longer than is necessary.

You will need to ensure that your members of staff are aware of the new GDPR rules, and that you provide them with thorough training ahead of the 25 May introduction date.

Ensure you have adequate procedures to prevent data breaches

Finally, businesses are advised to make sure that they have detailed procedures in place to detect, report and investigate a personal data breach. Certain data breaches will need to be reported to the ICO.

Penalties for non-compliance

Failing to prevent a data breach can result in fines of up to 4% of total annual worldwide revenue, or up to €20 million, whichever is the greater.

Further guidance in relation to complying with the GDPR requirements can be found on the ICO website.