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View Full Version : Accountant advice needed =)



Keia
12-01-2015, 06:13 PM
Hello everyone. It's been a while since I've posted on this forum because as some already know I've just moved house & still without workbench and work area. With everything that's been going on and the realization that the dreaded tax is due just around the corner I admit that finally I need professional help (of the paperwork kind!). I'm wondering who here already has an accountant to help them with their self assessment forms etc or who they could recommend?

Thanks in advance (and sorry if this isn't allowed due to possible advertising issues).

Tabby66
12-01-2015, 07:52 PM
I have an accountant sort this, it is a company local to me, so not really much use to you Keia, sorry.

Dennis
12-01-2015, 10:30 PM
It's not a big deal for a qualified accountant Sian, but useful to find one nearby you can just pop into. The only problem is that they charge quite a lot, so an alternative option is to find a retired book keeper who has done it in the past. Dennis.

Keia
12-01-2015, 11:43 PM
Thanks for the replies, it honestly hadn't occurred to me to keep it local so I could just pop in as needed. Thats a huge over sight on my part. Will do some more inet searching ;)

pearlescence
13-01-2015, 07:39 AM
Yes, keep it local but do not just take one off the internet.
I did that at first and ended up with someone (an independent)totally losing the plot, unbeknownst to me, who ended up with our first company accounts going overdue. I managed to get all the paperwork back off her and went round to where I should have gone in the first place and begged for rescue. Been with that firm ever since.
Do not get a sole operator because they can fall by the wayside and take all your original papers with them. Find a local small company or single operator like you and ask them who they use.
Yes, a firm will cost money (which is tax deductible) but you have priceless peace of mind and answers to tax and financial questions when you need them.
Sorry Dennis but I have to disagree about the retired bookkeeper suggestion. They will not have business insurance to protect you and will not (and may never have been) fully up to date on all tax law and requirements
I pay monthly which makes it less ouch.

Goldsmith
13-01-2015, 09:06 AM
When I first started my own business I used an accountancy company on advice. But after a few years I started doing my own bookwork. At the end of each day I would write the day's transactions in a day book and at the end of each month I would write transactions up in three folders, one for purchases and running costs, one for invoices, payments and bank accounts, and the final one was the VAT. This saved me between £750 and £1,500 per year. The VAT man visited me twice and told me that my standard old way bookwork was easy to check.

James

caroleallen
13-01-2015, 03:43 PM
I think recommendation is the best way. My first accountant didn't have a clue about limited companies so I switched to one who was recommended by a similar sized local company. So far she seems to know what she's doing.

pearlescence
14-01-2015, 07:34 AM
VAT is a doddle. It is corporation tax which is an impenetrable maze. Now I just collect invoices and the company bank account serves as the day to day record (with a scribbled note on each month's statement on the non-regular stuff) (and a separate note of export sales)

Keia
14-01-2015, 05:51 PM
All solid advice, thankyou so much for taking the time to reply. Loads for me to think about.