I do this for two reasons, one I am a cheapskate and at the start of the company wanted to save every penny I could, and secondly I find the accountants on here (and a bit of Google-Fu) seem to cover most of my questions (once again thank you to those who have given me advice over the past few years)
I use a series of spreadsheets from DIY Accounting Software, Small Business, Payslip Software, Tax Return, Limited Company UK, it takes a bit of working out to get started but for those who have spreadsheets to fill in from their accountants I would day its not that much more effort day to day, I have to enter entries in twice (I assume this is the meaning of double entry book keeping) but it is very straight forward, gives me payslips (which to be fair I don't actually create but I have the option to go back and produce if I need to).
The other bit of software I use is HMRC's Basic PAYE Tools, again very straight forward to use once a month when I am preparing the wages.
Lastly for those who complete Self Assessments you will be aware of HMRC Online services, only difference is I also have PAYE, Corp Tax and VAT accounts attached.
All in all I think it is no more than 3-4 hours work a month, and maybe half a day end of year doing CT600, I know I will miss out on valuable information that an accountant can give based on their expertise and working knowledge, but I don't think doing it this way has put me at any disadvantage (except in 2012 I got a £100 fine as I cocked up and missed out the 29th Feb as my year end is 28th Feb), but I like to keep things as simple as possible when it comes to my accounts, I don't claim for everything I am entitled, I don't worry about squeezing every penny of interest sat in the company current account.
I can't be the only person on here who doesn't employ an accountant at all.
I use a series of spreadsheets from DIY Accounting Software, Small Business, Payslip Software, Tax Return, Limited Company UK, it takes a bit of working out to get started but for those who have spreadsheets to fill in from their accountants I would day its not that much more effort day to day, I have to enter entries in twice (I assume this is the meaning of double entry book keeping) but it is very straight forward, gives me payslips (which to be fair I don't actually create but I have the option to go back and produce if I need to).
The other bit of software I use is HMRC's Basic PAYE Tools, again very straight forward to use once a month when I am preparing the wages.
Lastly for those who complete Self Assessments you will be aware of HMRC Online services, only difference is I also have PAYE, Corp Tax and VAT accounts attached.
All in all I think it is no more than 3-4 hours work a month, and maybe half a day end of year doing CT600, I know I will miss out on valuable information that an accountant can give based on their expertise and working knowledge, but I don't think doing it this way has put me at any disadvantage (except in 2012 I got a £100 fine as I cocked up and missed out the 29th Feb as my year end is 28th Feb), but I like to keep things as simple as possible when it comes to my accounts, I don't claim for everything I am entitled, I don't worry about squeezing every penny of interest sat in the company current account.
I can't be the only person on here who doesn't employ an accountant at all.
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