Do I need an Accountant if I go for FreeAgent?

[ladymuck]

Also, I really don't like the idea of putting my financial info on 'cloud'*


*Someone Else's Servers.

Yeah, I get that.

It look me a long time to move to cloud based accounts from locally installed software and I still export all the transactions annually to make sure I have a complete back up, just in case.

I could do it all on excel but I like the download of banking transactions and the direct submission of PAYE and VAT.

[sadkingbilly]

Yeah, I get that.

It look me a long time to move to cloud based accounts from locally installed software and I still export all the transactions annually to make sure I have a complete back up, just in case.

I could do it all on excel but I like the download of banking transactions and the direct submission of PAYE and VAT.

It's not so much the data integrity for me, it's more secure on my machine than out There, somewhere, bundled up nicely with x,000 other peoples, waiting to be nicked.
I don't trust 'apps' and 'cloud' security as far as i could throw it.

OMHO of course

anyway i managed with paper before excel* came along

*other spreadsheet software was/is available.

[Spoiler]

Hijacking the thread because ... it's topical for me this.

Been using FA for over 8 years now, and also using a usual contractor accountant who does vat, payroll, accounts, etc.

But, looking at moving away from daily contracting next April, but planning on keeping the ltd going for a while, to use for adhoc projects, and also generate some income from a couple of hustles.

I won't be doing payroll and also plan to deregister for vat, so I reckon main need will be accounts. Now, on the last filed accounts I did review and had a few questions for the accountant, so I don't think I am competent enough yet to take these on myself. Confident enough to do my personal tax return though.

Thing is, current accountant has quoted ~£80/month to keep on doing the accounts from April next year (with no payroll or vat) including a p11d - and that is really with no transactions going through the ltd. I reckon this is steep, so looking at other options.
Will look locally, but did find one online accountants who will do the annual accounts for £360/yr (actually they found me via online advertising!).

Oh, also planning to open up a bank account with Mettle (if they will have my ltdco back, closed an account there last year!) or NatWest to get FA included.

[ladymuck]

Hijacking the thread because ... it's topical for me this.

Been using FA for over 8 years now, and also using a usual contractor accountant who does vat, payroll, accounts, etc.

But, looking at moving away from daily contracting next April, but planning on keeping the ltd going for a while, to use for adhoc projects, and also generate some income from a couple of hustles.

I won't be doing payroll and also plan to deregister for vat, so I reckon main need will be accounts. Now, on the last filed accounts I did review and had a few questions for the accountant, so I don't think I am competent enough yet to take these on myself. Confident enough to do my personal tax return though.

Thing is, current accountant has quoted ~£80/month to keep on doing the accounts from April next year (with no payroll or vat) including a p11d - and that is really with no transactions going through the ltd. I reckon this is steep, so looking at other options.
Will look locally, but did find one online accountants who will do the annual accounts for £360/yr (actually they found me via online advertising!).

Oh, also planning to open up a bank account with Mettle (if they will have my ltdco back, closed an account there last year!) or NatWest to get FA included.

Sounds like your LtdCo will be eligible to submit micro entity accounts. FA can submit these and your CT. If you're going to keep things really, really simple then I don't see why you can't do it using FA. My experience of FA since starting to use it this summer, is that it really does a lot of the hand holding for you. I'm used to the likes of Sage and Xero where you can properly screw things up if you don't have a good grasp of basic accounting/book-keeping principles.

[The Spartan]

Hijacking the thread because ... it's topical for me this.

Been using FA for over 8 years now, and also using a usual contractor accountant who does vat, payroll, accounts, etc.

But, looking at moving away from daily contracting next April, but planning on keeping the ltd going for a while, to use for adhoc projects, and also generate some income from a couple of hustles.

I won't be doing payroll and also plan to deregister for vat, so I reckon main need will be accounts. Now, on the last filed accounts I did review and had a few questions for the accountant, so I don't think I am competent enough yet to take these on myself. Confident enough to do my personal tax return though.

Thing is, current accountant has quoted ~£80/month to keep on doing the accounts from April next year (with no payroll or vat) including a p11d - and that is really with no transactions going through the ltd. I reckon this is steep, so looking at other options.
Will look locally, but did find one online accountants who will do the annual accounts for £360/yr (actually they found me via online advertising!).

Oh, also planning to open up a bank account with Mettle (if they will have my ltdco back, closed an account there last year!) or NatWest to get FA included.

I'll be in the exact same position around April hopefully, £360/yr sounds like a bargain. £80/yr sounds ridiculous, I'm not too happy about the recent fee increase with the accountants I'm using given that FreeAgent does most of the work for them; it sounds pretty hard to justify extra costs when the tech is actually doing their job for them.

[Spoiler]

Yep. I will phone round a few FA accountants and see if they will do a custom package. I will do the tasks that I feel confident in doing.

[The Spartan]

Yep. I will phone round a few FA accountants and see if they will do a custom package. I will do the tasks that I feel confident in doing.

If you manage to find a decent accountant with a fair price, I'd be really grateful if you could share their details. I'll be doing the same shortly and if I find a good deal I will let you know.

[Spoiler]

If you manage to find a decent accountant with a fair price, I'd be really grateful if you could share their details. I'll be doing the same shortly and if I find a good deal I will let you know.

will do - thanks