New Contractor questions

[roger rabbit]

Re: not guilty

"Is it true what I heard that tax advising is for those who find normal accountancy too exciting?"

No fiddle - the fable is

an actuary is someone who finds accounting too exciting.

[antagoneyes]

Re: not guilty

You have to maintain income and expense records to communicate to your accountant. In my simple case it was easy to knock up my own PAYE and VAT calcs on a spreadsheet and communicate directly to the IR and Customs and Excise, for no effort beyond a few hours initial set-up.

ZZZAAA

I've heard a lot of people bragging about doing their own accounts. Most have either missed opportunities or made costly mistakes. One or two have even been brave enough to admit as much on this board. perhaps you are not one of these but who cares! Your generalisation that doing your own accounts is the way to go is pure nonsense and may mislead people.

I service my own cars and motorbikes and save a fortune. The vehicles don't break down and I am confident in what has been done. I save more money each year in servicing costs than the fees for my accountant - big deal! I am not arrogant enough to suggest that everyone should service their cars however.

Is the message getting through?

[fiddleabout]

Re: not guilty

> an actuary is someone who finds accounting too exciting
yes - I watched About Scmidt too - glad I didn't buy it

Oh - another point about that £50 - it's £50 pre taxation - if I left it in the company and drew it as divvi or salary I doubt I'd see much more than £30

[ZZZAAA]

Doing your own accounting

Antagoneyes,

"I am not arrogant enough...."

But you are arrogant enough to claim of those doing their own accounts "most have either missed opportunities or made costly mistakes". What's your evidence?

"Your generalisation that doing your own accounts is the way to go"

My "generalisation" was expressed as "my simple case". Maybe it's the same thing to someone whose main reading literature is Haynes manuals.

"perhaps you are not one of these but who cares!"

Contradictory. You ask me a question, then change your mind and claim not to care. It sums up the quality of your comments.

[fiddleabout]

Re: Doing your own accounting

If you're that clever I'd suggest you bin IT and take up accounting old boy - IT will be dead in the UK in a few years.

Mind you with IR591 contractor accounting will be too even sooner - the few left in the game will either be using umbrellas or offshore schemes.

[antagoneyes]

Re: Doing your own accounting

The truth is ZZZAAA I think you are an Ass and I would seriously like to kick you or possibly insert a hardback Haynes Manual where the sun don't shine.

[ZZZAAA]

Re: Doing your own accounting

Anatgoneyes,

Even your insults are dull cliche-ridden unoriginality. Forget the car. Give your brain a major service, and the next time you write, aim to rise above scraping the barrel of inarticulate mediocrity.

[fiddleabout]

Re: Doing your own accounting

> aim to rise above scraping the barrel of inarticulate mediocrity

you clearly need to read`the forum T&C - all posts have to be boring tulipe - yours have indeed met those conditions so you are safe.

[antagoneyes]

Re: Doing your own accounting

I don't think the guy is boring

Quite entertaining actually. Clearly limited on the intellectual front though - for ZZZAAA read Mr. 80. :lol

[ZZZAAA]

Re: Doing your own accounting

"Clearly limited on the intellectual front..."

If someone is to judge my intellect, I'd rather it were not someone incapable of performing a VAT calculation. And not someone whose idea of a cerebral activity seems to be tinkering with cars.