Advertising

[ASB]

-Accountants: DNS Accountants

-Theyve stated betwen 70 - 90% return on gross

-You can keep the bridge

Whats a reasonable % to expect?

Appreciate the replies all, thanks.

In terms of 70-90% the question of a reasonable amount to keep is looking at it exactly the wrong way. What is the basis of of the mechanism that yields that retention. It is possible it is above board but may well not be.

[eek]

In terms of 70-90% the question of a reasonable amount to keep is looking at it exactly the wrong way. What is the basis of of the mechanism that yields that retention. It is possible it is above board but it’s 100% probable may well not be.

FTFY - the only way to hit anything above 80% would be to use a pension

[ASB]

FTFY - the only way to hit anything above 80% would be to use a pension

Wrong. But in reality probably quite correct with your underlying but undeclared assumptions.

The amounts billed are critical. Sure at "normal it contract" rates I would entirely agree. But that is of course merely a subset of the market.

If your rate is low it is entirely possible to retain a higher percentage. In simplistic terms retaining almost 100% of 10k would be normal.(I do know a few people on these sorts of numbers railroaded into company operation).

Given the OP has given no indications of the numbers you can not legitimately ascribe certainty to the undeclared arrangements being dodgy. Just likely.

[Fred Bloggs]

Many will do it on the basis "my accountant says it's ok, so it must be". When it comes to accounting/tax things, that mantra should be ok...but some accountants (and I use that term loosely) clearly don't give a poop about the law/ethics, bringing a bad name to the whole profession

Hence my view, if you're in no doubt they are recommending what you're suggesting they're recommending, don't just leave, report these cowboys.

Report to who? Are they a member of UK professional body? HMRC tell you that the responsibility for correct tax payment is the individual's responsibility. The accountants claim IPSE affiliation. Report them to IPSE? What will IPSE do? If you use this advertising scheme as suggested by the IPSE affiliate, will IPSE defend you when Hector calls? I wonder...........

[mudskipper]

Report to who? Are they a member of UK professional body? HMRC tell you that the responsibility for correct tax payment is the individual's responsibility. The accountants claim IPSE affiliation. Report them to IPSE? What will IPSE do? If you use this advertising scheme as suggested by the IPSE affiliate, will IPSE defend you when Hector calls? I wonder...........

If one looks at the accountant's page, they have won numerous awards and are a member of various bodies.

Assuming the story is true (I don't doubt the OP, but one has to treat everything one reads on the internet with a healthy pinch of scepticism) and that the accountant is that one that google throws up, then it does need looking into.

But as far as IPSE being in some way "responsible" - that's like saying that because I am a Microsoft certified developer, Microsoft are somehow responsible if I screw up a client's system.

If the OP wants to PM me with any correspondence that details the scheme on offer, I will be glad to pass on to the office.

[Fred Bloggs]

But as far as IPSE being in some way "responsible"

Apart from you, who sad that? I have made a different point entirely, which, true to form you choose to ignore entirely.

[eek]

Apart from you, who sad that? I have made a different point entirely, which, true to form you choose to ignore entirely.

It’s a standard response - I had the same when brookson became a partner as let’s be honest their history isn’t exactly whiter than white

[Darren at Fox-Bartfield]

DNS

Report to who? Are they a member of UK professional body? HMRC tell you that the responsibility for correct tax payment is the individual's responsibility. The accountants claim IPSE affiliation. Report them to IPSE? What will IPSE do? If you use this advertising scheme as suggested by the IPSE affiliate, will IPSE defend you when Hector calls? I wonder...........

Several of their management team are regulated by ICAEW and CIMA. They're also part of FCSA. The firm itself is not regulated by one of the accountancy bodies, purely by the FCSA. So reporting could be to HMRC, FCSA and the regulatory body of the guy who recommended the OP to alleged tax avoidance scheme. Could also take this up with the directors of the main DNS practice and advise them that one of their franchisees is promoting/facilitating which also leaves them exposed to prosecution.

[Maslins]

Assuming the story is true (I don't doubt the OP, but one has to treat everything one reads on the internet with a healthy pinch of scepticism) and that the accountant is that one that google throws up, then it does need looking into.

But as far as IPSE being in some way "responsible" - that's like saying that because I am a Microsoft certified developer, Microsoft are somehow responsible if I screw up a client's system.

If the OP wants to PM me with any correspondence that details the scheme on offer, I will be glad to pass on to the office.

This...though I wasn't thinking report to IPSE. Unsure what they could do beyond potentially remove the accountant's affiliation with them.

OP - you've gone quiet in this thread, but if you're prepared to stand by your original comments with your real name, PM me (or email chris at maslins dot co dot uk) and we can take this further.

[Fred Bloggs]

It’s a standard response - I had the same when brookson became a partner as let’s be honest their history isn’t exactly whiter than white

Correct. It seems a standard part of the lobotomisation. Any concerns I aired about the Bookson tie up were dismissed as "hearsay". And any request regarding any financial kick backs are, of course, "confidential".