Ltd Co setup and accounting

[Bradley]

Re:Accountant

Who's your accountant?

[4Contractors]

Re: Re:Accountant

Personally, my accountant costs me rather less then three days net income a year

....Umhhhh - that's interesting but that's 60% more than the accountant we recommend - down to 1.875 days net income Malvolio + they will set a free limited company...

........bit of a no brainer really, unless you like wasting money ?

[malvolio]

no brainer?

So let's see, you'd save me a day's income a year, if I change from a company I know to be good and effective to one that may be as good but remains unproven, and that may or may not cover all my various company and personal tax requirements in as much detail and may or may not offer the support and guidance I get from the current one.

Hmmm... I'll have to think about that

BTW - mine also advertises on here and has been known to contribute to the discussions.

[rootsnall]

Re: no brainer?

Try Nixon Williams in Chorley, I've used them in 2 spells over a number of years. £55 a month, free Ltd Co, always efficient and very much by the book which may not suit some but the way I understand it there is very little scope for 'legal' creative accounting. A bit of a downside is if you want to be deemed 'outside IR'35' you need to state that in writing and if you then need help in an investigation you'll have to pay extra. I'm in the PCG scheme to cover this eventuality, hopefully not needed. I tried a bigger better known firm ( pricier also ) and they made a lot of mistakes, ended up binning them and going back to NW.

[4Contractors]

Re: no brainer?

Nixon Williams in Chorley

These are the accountants we recommend but the monthly rate is £50 + VAT per month.

Malvolio our accountant does everything you need. The only thing not done is self-assessment but I would not want my accountant to do that anyway.

It really comes down to how much you want to pay and for me that is no contest. Having said that I was with JSA for 4 years so we had a combination of gross incompetence, combined with expense. Some of us have learned our lesson and are happy to pass on information that will save contractors time and money as well as earning us a small commission. We also try to help with questions on the forum when we can - unfortunately the accountancy firm we represent is small and works on tight margins, so no time for cruising forums for business !!

[malvolio]

Re: no brainer?

You're not listening to me. I have no doubt it's a good service, and will happily suggest it to other people, but it will take a lot more than a pound a day to persuade me to introduce another risk that I don't need into a stable and profitable business.

The original question was about "Use an accountant or not" to which I think we agree the answer is "Yes if you are a newbie". So don't sell to me, go sell the the OP

Incidentally, I have no problems with my accountant doing the SA since my numbers are very simple! But that's just me...

[FCUKWIT1]

Re: no brainer?

my numbers are very simple

.....rather like you apparently :lol

[malvolio]

Re: no brainer?

No, not really. For example, let's compare forum names....

There is no need to make things any more complicated than they have to be. Simple salary, simple dividend payment, no expenses other than mileage, no declarable alternate income. Hey, I could probably manage the SA all by myself - but why bother.

Now go back to your toys.

[FCUKWIT1]

Re: no brainer?

Now lets compare forum names - my name is straightforward and honest whereas Malvolio is a complex, unpopular and insular character - can't think why you would think it clever to choose it

SA is very easy - mine is more complex than most and supplying the figures to someone else to do the return is about 80% of the job. Spend less time on this forum and do it yourself Malvolio; always a mistake to share all your financial information with an accountant who may well also have fingers in other pies like financial services, pensions, etc, etc...........or perhaps you like spam spam spam spam

Now lets look at your logic in this thread.............
.............I'm still looking but no I can't find any :rollin

[4Contractors]

Re: no brainer?

You're not listening to me. I have no doubt it's a good service, and will happily suggest it to other people, but it will take a lot more than a pound a day to persuade me to introduce another risk that I don't need into a stable and profitable business.

Not sure what you mean by risk here Malvolio ? - there is no risk - we have introduced quite a number of clients to our accountant from this forum and as far as I know they are all happy. If anyone gets bad service I'm sure there would be a post on this forum to highlight the issue. I have been using them for over 4 years and recommending them for about 2 years.

If you are not worried about saving over £1 a day without cost to yourself then I'm afraid you don't deserve to make any kind of profit in business.