The Official I Don't Use An Accountant Thread

[SimonMac]

I am sure there are plenty more but you, knowing your tulip and doing it properly, will be in the minority. Most of the others will be newbies flailing around thinking they are OK...

But.. to add my tuppence worth (pre-tax of course)I'm with Pondy. It's just not worth not paying my accountant for. Somethings in (my) life are worth paying for and something's can be scrimped on. My accounts are the former. The extra I pay for my cleaner to do the house in only her underwear is the latter (occasionally).

If things were different and I wasn't focused on saving every penny when I started I probably would have used an accountant and not given it a second thought, but I like having control and understanding my business, I can plan, budget and forecast my accounts so I know my exact position at all times, you know like a real business does.

[SimonMac]

I pay for the peace of mind and experience they have and i dont

Our clients pay us for the exact same reason, but 9 times out of 10 we are just better at Googling stackover flow then they are

[Mincepie]

Our clients pay us for the exact same reason, but 9 times out of 10 we are just better at Googling stackover flow then they are

Touche

[DaveB]

I'm with Pondy, I have better things to do with my time after I get home from a client site.

Plus I have 3 different clients on the go, all billing with different frequencies. Much easier to give it all to the accountants to make sure it's sorted. They give us a cumulative profit and loss statement each month so we always have sight of the state of the business.

Also useful to have them on call if I need proof of earnings/turnover etc.

MrsB does the admin stuff, payments, collating invoices, checking bank statements etc. and making sure everything gets to the accountants on time. She also sorts out my diary so I know where I'm supposed to be and when, which helps.

[I just need to test it]

When the VAT man (literally) knocked on the door to carry out an investigation I rang my accountant who sorted everything while I continued billing. Acers.

[SueEllen]

I've been asked 3 times in the last 2 years to provide a reference and due to being a contractor, my accountant has been an acceptable reference.

If I did my own accounts I would have had to ask loads of clients.

[northernladuk]

If things were different and I wasn't focused on saving every penny when I started I probably would have used an accountant and not given it a second thought, but I like having control and understanding my business, I can plan, budget and forecast my accounts so I know my exact position at all times, you know like a real business does.

Which you can still do with an accountant...like every business has.

[northernladuk]

MrsB does the admin stuff, payments, collating invoices, checking bank statements etc. and making sure everything gets to the accountants on time. She also sorts out my diary so I know where I'm supposed to be and when, which helps.

She does all that on top of doing an OU course, lookin hot and drinking us under the table at a CUK do? She's a keeper that one!

[john@UKCA]

DIY Accounts

The problem comes when you need the accounts in support of a mortgage application and SA302S don't cut it because you have retained profits within the company.

Most lenders don't accept DIY limited accounts- they want signed accounts with an Accountants Report.

[northernladuk]

The problem comes when you need the accounts in support of a mortgage application and SA302S don't cut it because you have retained profits within the company.

Most lenders don't accept DIY limited accounts- they want signed accounts with an Accountants Report.

The contractor lenders like Halifax are OK with SA302's now.