View Full Version : Accountants

01-09-2014, 04:00 PM
I'm currently procrastinating - have just a tiny bit of tidying up to do before putting 2013/2014 tax return in. I am terrible at keeping my accounts up to date (I keep all receipts and records, just don't organise them any where near regularly enough, so eventually spend painful weeks doing it and swearing at excel.
How many of you folk use a pro? I constantly um and ah whether I should, and have you gone for someone you know, or a specific firm? I've asked on FB and peole seem to use such a variety of firms (from the nationwide 'send us it all in an envelope at the end of the month' types), to their parent's friends. I don't know of any companies with specific knowledge of creative types, which I think would be most useful. Anyone?

01-09-2014, 04:15 PM
I think it depends on how much your turnover is. My experience of them was from a few years ago when I was working for my other half (as fab as it sounds!). Being on the payroll and doing our own accounts was a drag because they queried it. Got an accountant and bingo, it all went through ok plus the accountant's fees were written off against tax as well.

So if you are earning over the tax threshold by at least a couple of grand it is worth it especially if you are employing someone else or, as is often the case, a partner is doing unpaid work for you, in which case pay them! It's tax deductible!

01-09-2014, 04:24 PM
Do you know any other self employed or small businesses who have one - discuss their accountant and seek recommendations

01-09-2014, 05:07 PM
The devil is in the charges. Here in Central London they can start at 2K for quite modest domestic accounts, presented in good order, and sent in by a firm of accountants on line.

Much cheaper to advertise locally for an experienced part time book keeper to come in monthly or quarterly for pin money. Many retired persons would be happy to do this. Dennis.

01-09-2014, 05:33 PM
Outside my jewellery making I have a small company (no employees, one director) which I put my consultancy work through. I have a firm of accountants in Wells who prepare my accounts and do all the HMRC stuff including submitting the corporation tax returns. Last year total cost was under 1000, which is deductible from profits. One of the advantages of living outside London.

Found them theough a friend's recommendation.

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