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  1. #41

    Still gathering requirements...


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    Quote Originally Posted by TheCyclingProgrammer View Post
    So you've not looked at your VAT returns?
    Yes and no,

    yes in the fact I've seen how much I need to send to HMRC and thinking that because I was paying the accountancy firm a lot of money for this service that everything will be in order..

    No in the fact that I didn't understand correctly how they reach the magic figure..

    However in my defence, it was my very first foray in to Ltd company land, this accountancy firm advertises that they make the transition to Ltd from Umbrella easy (setting up incorporation, VAT reg etc).. I always did have it on my radar to get a more in depth knowledge of how things work as I've gone along..

    Since ditching the said giant factory accountancy company, my new independant and much more personal accountant has filled in many grey area's.. this one has literally jumped up and bitten my backside out of knowwhere.

    Going back to the original message, the core of the problem is that I thought that by registering for VAT I had done my bit. I was never asked for my VAT number (although I was asked for everything else due to the agency and accountancy compliance and governance procedures).

    I didn't know that I had to give my VAT number, and never having had a self bill invoice before, didnt know to expect the VAT to be included on the self bill invoice..

    It's been a real perfect storm of errors and bad communication / procedures.

    So now I'm on the case to get everything back in order and sorted, you live and learn as they say...

    Thanks again for everyones input (constructive or not)

  2. #42

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    Quote Originally Posted by choci View Post
    Yes and no,

    yes in the fact I've seen how much I need to send to HMRC and thinking that because I was paying the accountancy firm a lot of money for this service that everything will be in order..

    No in the fact that I didn't understand correctly how they reach the magic figure..

    However in my defence, it was my very first foray in to Ltd company land, this accountancy firm advertises that they make the transition to Ltd from Umbrella easy (setting up incorporation, VAT reg etc).. I always did have it on my radar to get a more in depth knowledge of how things work as I've gone along..

    Since ditching the said giant factory accountancy company, my new independant and much more personal accountant has filled in many grey area's.. this one has literally jumped up and bitten my backside out of knowwhere.

    Going back to the original message, the core of the problem is that I thought that by registering for VAT I had done my bit. I was never asked for my VAT number (although I was asked for everything else due to the agency and accountancy compliance and governance procedures).

    I didn't know that I had to give my VAT number, and never having had a self bill invoice before, didnt know to expect the VAT to be included on the self bill invoice..

    It's been a real perfect storm of errors and bad communication / procedures.

    So now I'm on the case to get everything back in order and sorted, you live and learn as they say...

    Thanks again for everyones input (constructive or not)
    I was going to pick this apart paragraph by paragraph as nearly every one needs a comment but I really CBA. All I see are excuses and you blaming everyone else. You run your company, you are LEGALLY responsible to do it properly so ultimately it's down to you. Your accountants run a service for you, not run your business affairs, the agents, well they are just agents. Leaving anything up to them is a mistake. You been at it for a year. That's more than long enough.

    Sorry this sounds harsh but this one is down to you I am afraid. You run your own business now so you've got to step up and understand all these including 24 month rules, IR35, contracts and much more.

    Do you now understand FRS? Do you know what rate you are on? Do you know what discount is being applied for how long and why?
    Last edited by northernladuk; 13th September 2016 at 12:49.
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  3. #43

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    Quote Originally Posted by northernladuk View Post
    I was going to pick this apart paragraph by paragraph as nearly every one needs a comment but I really CBA. All I see are excuses and you blaming everyone else. You run your company, you are LEGALLY responsible to do it properly so ultimately it's down to you. Your accountants run a service for you, not run your business affairs, the agents, well they are just agents. Leaving anything up to them is a mistake. You been at it for a year. That's more than long enough.

    Sorry this sounds harsh
    but this one is down to you I am afraid. You run your own business now so you've got to step up and understand all these including 24 month rules, IR35, contracts and much more.
    Absolutely this.

    One of the unfortunate things is, if you slip up somewhere else, this can lead to an IR35 investigation.
    Therefore knowing all of your affairs is of paramount importance.

    Given the unbelievable mess that some get into and then post on here, I don't believe you are being too harsh towards the OP.

  4. #44

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    Quote Originally Posted by MrMarkyMark View Post
    Absolutely this.

    One of the unfortunate things is, if you slip up somewhere else, this can lead to an IR35 investigation.
    Therefore knowing all of your affairs is of paramount importance.

    Given the unbelievable mess that some get into and then post on here, I don't believe you are being too harsh towards the OP.
    Quote Originally Posted by northernladuk View Post
    I was going to pick this apart paragraph by paragraph as nearly every one needs a comment but I really CBA. All I see are excuses and you blaming everyone else. You run your company, you are LEGALLY responsible to do it properly so ultimately it's down to you. Your accountants run a service for you, not run your business affairs, the agents, well they are just agents. Leaving anything up to them is a mistake. You been at it for a year. That's more than long enough.

    Sorry this sounds harsh but this one is down to you I am afraid. You run your own business now so you've got to step up and understand all these including 24 month rules, IR35, contracts and much more.

    Do you now understand FRS? Do you know what rate you are on? Do you know what discount is being applied for how long and why?

    I will be certainly be checking out all info from the noobs links and most certainly on the points made as a matter of urgency.

    I'm a long way from the 24 month rule, and I've tried to do as much as I can with regards IR35 by using Bauer & Cottrell for checking my contract and getting it amended, and using IPSE and Abbey Tax for some insurance peace of mind.

    Thanks again all.

    As soon as I have any news i'll update the thread.. I'm sure most won't be to bothered about the outcome, but for the sake of the post having a beginning, middle and end, I'll update it with how things go.
    Last edited by choci; 13th September 2016 at 13:18.

  5. #45

    More time posting than coding


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    Quote Originally Posted by northernladuk View Post
    Hmm. That needs updating doesn't.
    Nah. I think that covers 99.9% of your responses. 😀

  6. #46

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    Quote Originally Posted by youngguy View Post
    Nah. I think that covers 99.9% of your responses. 😀
    Erm... That was the whole point :
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  7. #47

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    Quote Originally Posted by northernladuk View Post
    Erm... That was the whole point :
    And the adage is, the best advice is not the most popular advice.

    I pay my accountant, therefore I expect services.

    I still use SJD as it goes, early adopter and get excellent service...ie detailed, personal E mail response in a couple of hours.
    YMMV.

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