Accounting

[amsie]

Id personally advise getting an accountant once the company gets bigger.

Its a fact that HMRC will pick on people without accountants.

I've recently had to try dealing with HMRC. I say TRY, because it's like dealing with a faceless bureaucracy, which has a different department for each question you wish to ask, which can only be asked in writing, who demands an obscene money from you when they actually owe you, who wants PAYE tax paid even though you have told them time and time again you have no PAYE staff, only CIS sub-contractors, and won't release any details on how they come to their conclusion.

I tried for a while, got bored, and got my accountant to do it.

They quickly backed down.

There are cheaper accontants than the 1k you have been quoted to get you going, and remember, accountants know all the rules regarding claiming allowances etc.

 

[seco services]

Its a fact that HMRC will pick on people without accountants.

load of old cr*p get the f*k do they
i've never had an accountant and never been tugged.
not that you tried to claim over the top.

 

[amsie]

did I say anything in my post about me claiming anything?

Please actually read it before talking out of your arse Seco!

 

[seco services]

read it and you state hmrc pick on people that don't have an accountant

couldn't get no clearer than that, only that it stinks and its bullsh*t.

false claims is useally why you get picked on not cause you haven't got an accountant.

 

[amsie]

interesting.

There was a documentary on HMRC a few years ago, and it was admitted from the clueless ****ers themselves that they go after businesses who can't afford decent accountants. The first sign of a decent accountant fighing the ****ers and they go off after someone else.

Also, I have my own Ltd company dealings with them.

Unless you work for HMRC and can put me right on that?

 

[fattony]

Cheers wood but I ended up checking out their forum and got it sorted, I have found an accountant we like so we're going with her.... yes you read it correctly her

 

[PE]

Its a fact that HMRC will pick on people without accountants.

load of old cr*p get the f*k do they
i've never had an accountant and never been tugged.
not that you tried to claim over the top.

There is actually some truth in this and we have had this confirmed by HMRC themselves.
Basically taxpayers without a 64-8 (which is a form that allows your tax agent to act for you and deal with the Revenue) can easily be seen by HMRC on their screens. The admit they are far more likely to pursue "grey" areas with people with no agents acting for them.

Not sure whether they look at general accounts and returns in any more detail if you don't have an agent. Their computer systems aren't that sophisticated

 

[ceminem]

I'm a recently qualifed chartered accountant, the way to look at it does your accountant add value and then assess the fee in accordance. Will you gain more in tax savings than not using an accountant to advise on claimable expenses, will it save you valuable time that could be spent elsewhere i.e. getting and doing more jobs. Any accountant worth their salt will go beyond the numbers as anyone can bookkeep and prepare a set of accounts given the time and knowhow. It is the tax aspect that should be the focus, tax advantages and disadvantages of staying a sole trader/partnership vs limited company etc depending on level of profits.

Then again you could always approach accountants and swap services

I'm looking for a tiler, laminate floor layer, carpenter, gas boiler and plumber

 

[properleckie]

wifey went on one day Sage course, bought package cheap at course,
does accounts for our small co. T/O £120K,
Daughter chartered accountant gives occasional 'once over' very few problems + Sage help line was free 1st year.
seems worth it as it's tax/vat offices prefered prog.

 

[WoodYouLike]

seems worth it as it's tax/vat offices prefered prog.

Not so. As long as it complies with their regulations any software program is fine for them. They don't do your "books"

I don't like Sage - not enough value for money, too rigid. I prefer MYOB, Mamut and even Liberty Online Accounting - all better value for money than Sage.
Did I ever tell you both Liberty and Mamut technical support phoned me when I hit a problem with the programs - and solved the problem very quickly. Service like that should be part of the 'deal' - can't see big and rigid Sage doing that.
(Besides a retailer I'm a qualified bookkeeper who helps out local businesses sometimes with their books)

 

[Mw Roofline]

Its amazing how much money your accountant can save you. As well as charging you the earth they can save you the earth too.