Dispensing With Accountants

**Fred Bloggs** · 6 August 2021, 15:11

Originally posted by The Purrfect View Post

Good Afternoon,

A bit of advice required.

I wish to dispense with the services of my current accountants (one of the main ones recommended here).

I've been paying a monthly fee for the past 10 years. What I'd like to know is if I were to dispense with them now, are they still obligated to produce my 2020/21 year end accounts as I've been paying them monthly for the duration of that year?

Or do I have to keep paying their monthly fee up until the point at which they deliver the accounts - and I get the feeling they'll string the whole process out until December at considerable expense to myself.

Obviously, I have asked them but they are evasive and haven't given me a straight answers.

For the record, I haven't done any work through my ltd in the current tax year (and don't expect to) so I'm keen to cut and run and do away with the need for an accountant as soon as possible.

Only the accountants can tell you unless the terms are fully spelled out in the paperwork when you engaged them. Take a look or give them a call, nobody here can tell you for certain. If you call them you need to be insistent you want the answer and not be fobbed off.

**ladymuck** · 6 August 2021, 15:29

What makes you think that your accountants will string out the process? Sounds like a breakdown in the relationship there.

Monthly accounting payments are simply the annual fee for whatever it is you've hired them to do for you broken down into bite size chunks.

I would call / write to them and give formal notice that you will no longer need their services after your company's financial year end and that monthly payments will cease at that date. Assuming that your payments are aligned to your financial year, I would not expect you to have to pay past your year end, even if it takes them 6 months to produce the year end accounts.

No need to be childish about this. It's a business to business conversation.

**northernladuk** · 6 August 2021, 18:41

Your payments are monthly but tend to be part of a yearly charge which includes all activities required in a year. Obviously you can't sign up for monthly payments, get your year ends done and then just quit when it's quieter for them for the rest of the year.

Speak to them, they are a business, you are a customer. It's not like you are doing anything dodgy. Explain you want to leave and ask them what the score is. I very much doubt they are in the business of ripping people off because they want to leave. They provide a service just like your phone, provider, utilities etc. You'd just get in touch with them so do the same.

This could you be your last chance so 'ask your accountant' while you still can.

**northernladuk** · 6 August 2021, 18:50

BTW if you are trying to save some money most accountants can reduce their fees for none active LTDS that are ticking over.

**SallySageAccounting** · 9 August 2021, 07:51

With furlough and Self-Assessment RTI being introduced in 2023 (4 tax returns to file in the year), you will have to have an accountant. Only they can do these filings for you.

**cojak** · 9 August 2021, 07:56

Originally posted by SallySageAccounting View Post

With furlough and Self-Assessment RTI being introduced in 2023 (4 tax returns to file in the year), you will have to have an accountant. Only they can do these filings for you.

Please provide corroboration of that because I very much doubt it.

(I don’t doubt the tax returns, only that accountants are needed to do them.)

**ladymuck** · 9 August 2021, 08:07

Originally posted by SallySageAccounting View Post

With furlough and Self-Assessment RTI being introduced in 2023 (4 tax returns to file in the year), you will have to have an accountant. Only they can do these filings for you.

That sounds a bit odd.

Furlough ends in September and it's always been possible to submit your own information via the portal on gov.uk so what about that is coming in 2023?

The four tax returns thing, as far as I'm aware, is for landlords that do an annual SATR and you don't need an accountant to do that, just the right software.
https://www.churchill-knight.co.uk/b...changing-2023/

FreeAgent has a helpful view of the upcoming timeline of changes to MTD, none of which state that these tasks are solely the preserve of accountants.
https://www.freeagent.com/guides/mak...-for-business/

**cojak** · 9 August 2021, 08:15

Oh that’s interesting LM, so even the tax returns are in doubt for Ltd’s of IT contractors.

**eek** · 9 August 2021, 08:21

Originally posted by SallySageAccounting View Post

With furlough and Self-Assessment RTI being introduced in 2023 (4 tax returns to file in the year), you will have to have an accountant. Only they can do these filings for you.

Given that FreeAgent can submit my tax return and can even do a CT600 where do you get the idea that an accountant will be required.

Heck some of the small business banks already have built in accounting software and that will be all that is required going forward for most people.

I seriously expect the need for accountants will go down when these changes are implemented rather than increase.

Dispensing With Accountants