This is all you need to get started.
Tax guide:
Amazon.co.uk : tolleys tax guide
Key dates and critical information:
Business and self-employed - GOV.UK
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How to go from Accountant to DIY Accounts
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Originally posted by JtotheD View PostYour responses are very emotional.Leave a comment:
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Originally posted by ladymuck View PostSo, not one of the posts says about learning bookkeeping, reading up on tax law (CT allowances, VAT, PAYE/NI, expenses, etc.) understanding how and when to submit accounts to HMRC and CoHo, plus more stuff but I'm getting bored.
That's all the guidance you are going to get.
What I suspect you're asking is for someone to tell you how to bypass all that effort and just give you a template you blindly put numbers into without any understanding of the rules.
I worked for 9 years in accounts for a multinational organisation, running the treasury team. I wouldn't go DIY without putting in many more hours learning the stuff that I pay my accountant to know. He costs me £500 a year which is heck of a lot less than any fines I'd incur if I screwed up. For me, that independent sense check at year end is essential.
There are DIY'ers here. I suspect they will say the same as I did above. You have to learn it, there are no shortcuts.Leave a comment:
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So, not one of the posts says about learning bookkeeping, reading up on tax law (CT allowances, VAT, PAYE/NI, expenses, etc.) understanding how and when to submit accounts to HMRC and CoHo, plus more stuff but I'm getting bored.
That's all the guidance you are going to get.
What I suspect you're asking is for someone to tell you how to bypass all that effort and just give you a template you blindly put numbers into without any understanding of the rules.
I worked for 9 years in accounts for a multinational organisation, running the treasury team. I wouldn't go DIY without putting in many more hours learning the stuff that I pay my accountant to know. He costs me £500 a year which is heck of a lot less than any fines I'd incur if I screwed up. For me, that independent sense check at year end is essential.
There are DIY'ers here. I suspect they will say the same as I did above. You have to learn it, there are no shortcuts.Leave a comment:
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Originally posted by ladymuck View PostReally? You are posting in the Accounting forum. You've managed to find it once. I suggest your next task is to learn how to search, open, and read threads that mention DIY accounts.
I asked that you post a link to the ones with guidance, all the forum posts i have found are debating whether or not it is a good idea, not providing guidance.Leave a comment:
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Originally posted by JtotheD View PostIf you could provide me with a link to said forums?Leave a comment:
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Originally posted by greenlake View Post"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red AdairLeave a comment:
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Originally posted by M12 View PostWe are all experts in our relevant fields for a reason.
You would not expect an Accountant to create their website based on dummies guide and expect a quality website
You would not expect an Accountant to develop run their IT systems.
Better to focus your energies in your specialist area and pay the accountant to do theirs.
Given the risks involved with HMRC and low costs involved (business expenses). In my opinion a high risk move to save little money.
Best of Luck.Leave a comment:
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Originally posted by Lance View Postif you don't know how go about it. DON'T.
I know how to 'go about it', but I'm not daft enough to think that it's worth saving around £1k a year (less than 1% of turnover). I get impartial professional advice from a qualified practitioner, for less than 2 days revenue. No brainer.
To answer the direct question (how to go about it). Sack your accountant, then learn their trade (not necessarily in that order) and do it yourself.
Might be worthwhile lurking on accountants' forums as they are the experts.Leave a comment:
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Originally posted by BR14 View Postget a copy of Excel for dummies, and go for it.
Do let us know how you get on.Leave a comment:
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