1stcontact and HELP??

[dmini]

Now, i've been on the phone to a couple of accountants and they can basically offer everything for between £60-100 ex VAT.

That is a monthly rate though Multiply by 12 to comapre with your other figures!

Also, their expense system has stumped me.. I will admit that I am a bit naive when it comes to accounting, but they have a system that any company expenses are payed by your personal account, then you submit an expense claim and only receive 20% of the total expense back in salary!!!

You shouldn't recieve any expenses as salary. Expenses, genuinely occurring should be paid as expenses

To add my two pennorth to the above comments GET OUT OF THEIR SETUP!!
You are wide open under the new legislation. Ex MSCs are high up the hit list - which is why the likes of Giant etc got out.

You will have to pay some costs to move, to the new company, but then you won't be paying through the nose to 1st contact.

[spearfish]

That is a monthly rate though Multiply by 12 to comapre with your other figures!


You shouldn't recieve any expenses as salary. Expenses, genuinely occurring should be paid as expenses

To add my two pennorth to the above comments GET OUT OF THEIR SETUP!!
You are wide open under the new legislation. Ex MSCs are high up the hit list - which is why the likes of Giant etc got out.

You will have to pay some costs to move, to the new company, but then you won't be paying through the nose to 1st contact.

Yes, I understand.

total costs will be £720 per annum + VAT with new company.

1stcontact want £700 for a basic package, + £250 for something else and another £450-750 for year end stuff. I told them to blow a dead goat.
And this isn't MSC type stuff, just standard accounting services.

Their phones have been jammed for 3 weeks now and sick of their lies. They said they only found out about the new changes 1 week before financial year!!! Pitty other companies knew well in advance and prepared.

As I said, waiting for my year end accounts to be done (end of April) and then will switch.

[sentinel]

Dear Spearfish,

Due to recent change in legislation targetting MSC, not advisable to use MSC service providers . They may re-package their products but they cannot escape the special attention of HMRC.

The legislation gives exclusion to accountants providing accountancy services in a professional capacity. The best solution is to obtain the services of an accountancy firm. Go for a small one ( which may be so small and doesn't charge VAT on their fees) so that you will get the personal service from the accountant. This way you will not run into the same communication problems you are facing with your present service provider.

My friends and I use R&R Business Solutions who only charge £15 per week ( weekly interest-free payment for the annual charge of £780) to include all compliance with HMRC personal and company and payroll and Companies House. They dont have a website but you can contact them at rnr@rnraccountancy.co.uk

Hi everyone.

I've been using 1stcontact (operating a Ltd company but using their MSC servics for a while now and due to the recent changes they have totally changed their structure.

What is annoying is that the communication between themselves and me their customer is totally rubbish. I don't even know where I stand. I've had to ring them about 20 times to get info out of them.

Anyway, they have decided to change their structure and provide more traditional accounting services to us clients now. But still I'm not really sure what they'll be doing and what I'll have to do.

Below is an extraction from their website of their new fee structure...

Service Annual Fee*
Ongoing Compliance Pack £700
Includes:

Company Formations
Online Bookkeeping
VAT Pack
Salary Compliance
Tax Helpline
Total Value £1100 if taken separately
(Flexible payment options available)

Salary Compliance Pack £200
Includes:

NI/PAYE Calculation & advice
Quarterly Salary Health Check
Total Value £240 if taken separately
Year End Returns Pack £200
Includes:
Completion of P35
Completion of P11d & P14
Total Value £240 if taken separately

Year End Compliance Pack £250
Includes:

End Year Returns Pack
Personal Tax Return
Total Value £350 if taken separately


Now, i've been on the phone to a couple of accountants and they can basically offer everything for between £60-100 ex VAT.

Should I stick with 1stcontact or go someone else?

Is anyone here continuing to use 1stcontact?

Also, their expense system has stumped me.. I will admit that I am a bit naive when it comes to accounting, but they have a system that any company expenses are payed by your personal account, then you submit an expense claim and only receive 20% of the total expense back in salary!!!

HELP!!!

[cojak]

...says sentinel

otherwise known as Mr R&R Business Solutions...

"They don't have a website" but they do have a domain, which means they've been in business for all of 3 - 4 weeks?