Advice please - accountant

[Sally BFCA]

interested.

any of your guys ever get IR35 investigated ?

I'm happy to say, BFCA has had no IR35 investigations

[BolshieBastard]

interested.

any of your guys ever get IR35 investigated ?

Look at it this way, if you were having work done on your home, say, a building extension, would you choose your builder on the lowest quote?

If you were needing to have a major engine re build for your car, would you choose the garage on the lowest quote?

If you were having full central heating installed, would you choose your plumber \ fitter on the lowest quote?

If you were in need of legal advice, would you choose your solicitor on the lowest hourly rate?

So why on earth do people always look for the lowest quote for professional services such as accountancy work? Beats me everytime.

My accountant isnt 'cheap.' My last set of accounts including payroll, AR etc in fact everything except VAT, cost just over £1200.

But, he's always available, any queries are not chargeable extras, I have a very good professional relationship with him, he's given me sound business advice regarding another business I had and perhaps more importantly, they have had no hmrc investigations of contractors.

Choosing your accountant primarily on cost is a false economy.

[EternalOptimist]

1200 ? thats 300 less than mine.

300 = a weekend break in London for the missus and I. Thanks BB you have convinced me. time to save some money

[kingshuk]

Look at it this way, if you were having work done on your home, say, a building extension, would you choose your builder on the lowest quote?

If you were needing to have a major engine re build for your car, would you choose the garage on the lowest quote?

If you were having full central heating installed, would you choose your plumber \ fitter on the lowest quote?

If you were in need of legal advice, would you choose your solicitor on the lowest hourly rate?

So why on earth do people always look for the lowest quote for professional services such as accountancy work? Beats me everytime.

My accountant isnt 'cheap.' My last set of accounts including payroll, AR etc in fact everything except VAT, cost just over £1200.

But, he's always available, any queries are not chargeable extras, I have a very good professional relationship with him, he's given me sound business advice regarding another business I had and perhaps more importantly, they have had no hmrc investigations of contractors.

Choosing your accountant primarily on cost is a false economy.

I used Nixon William for £75 per month with all these 'features' available. Response time etc had also been satisfactory. The point is if you get the same service quality why would you want to pay more. I however do not know whether NW had any hmrc investigation (haven't heard in this forum).


There are others frequently mentioned in this forum (upton etc) who I assume are also good and doesn't cost as much. For most IT contractors setup with a Ltd company the accountancy work is not terribly complicated affair and should not cost so much I feel.

[malvolio]

I dunno. How many more times....

Read the words of the Master

http://www.lpwcs.com/wordpress/2009/...ost-you-money/

[krytonsheep]

1500 + VAT

That's a lot, my accountant told me as I knew how to use computers I should just get a copy of Sage Instant Accounts + Payroll and do it myself and he would just charge by the hour if I got stuck. Only needed him at the end of the year to do the corp tax calculation and he charged under £70 for it.

Only downside is I must have spent at least a few weeks in total learning about Sage/accounts/VAT/PAYE etc. So not really worth it unless you've got a lot of spare time on the bench.

[BolshieBastard]

I used Nixon William for £75 per month with all these 'features' available. Response time etc had also been satisfactory. The point is if you get the same service quality why would you want to pay more. I however do not know whether NW had any hmrc investigation (haven't heard in this forum).


There are others frequently mentioned in this forum (upton etc) who I assume are also good and doesn't cost as much. For most IT contractors setup with a Ltd company the accountancy work is not terribly complicated affair and should not cost so much I feel.

Mine are local. I can pop into their office anytime I want and its about building a two way relationship. You say NW's response times have been 'satisfactory.' That suggests they arent very good in the scheme of things and are in the order of being average at best. Perhaps other aspects of their service is satisfactory but that doesnt sound like a ringing endorsement.

Why would I pay more for the same service? Because I dont believe NW or anyone else for that matter would give me that 'same service.'

I go back to my original point.

[kingshuk]

You say NW's response times have been 'satisfactory.' That suggests they arent very good in the scheme of things and are in the order of being average at best.

Never realized satisfactory means all that.

Looking around for a definition of satisfactory on the net I found something like this -

Definition: Giving or producing satisfaction; yielding content; especially, relieving the mind from doubt or uncertainty, and enabling it to rest with confidence; sufficient; as, a satisfactory account or explanation.

Thats what I meant when I used satisfactory. I try not to use inflated adjectives.

Going back to your point - yes if you have a requirement of being able to pop into your accountant's office anytime you want then NW (or such remote accountant's) will not meet your need.

I do not have such requirements and most contractors I've met don't have either.

Not entirely sure about the two way relationship you mention. I look at relationship with my accountant as something based on money. Its money one way (LtdCo->Accountant), service another way (Accountant->LtdCo). If I think service is not good or cost is too high I will terminate the relationship.

[Waldorf]

Another vote here for Nixon Williams, I have always had a great dealing with them, I have recommended them several times.

Some prefer to pay more than £75 per month, but these are probably the same people who buy teabags in Harrods for twice what they can get them in Tesco for!

Each to their own....

[BolshieBastard]

Never realized satisfactory means all that.

Looking around for a definition of satisfactory on the net I found something like this -


Thats what I meant when I used satisfactory. I try not to use inflated adjectives.

Going back to your point - yes if you have a requirement of being able to pop into your accountant's office anytime you want then NW (or such remote accountant's) will not meet your need.

I do not have such requirements and most contractors I've met don't have either.

Not entirely sure about the two way relationship you mention. I look at relationship with my accountant as something based on money. Its money one way (LtdCo->Accountant), service another way (Accountant->LtdCo). If I think service is not good or cost is too high I will terminate the relationship.

So, if you are asked to rate something you'll say its satisfactory instead of good? I think most people would rate satisfactory as a level below something rated as good. I certainly do.

Accountants regulatory \ professional bodies recommend, your accountant should have at least one face 2 face with the client in a 12 month period. Many gloss over that with a telephone call I guess.

Im surprised you are not sure about a professional two way relationship with your accountant. Perhaps you dont. Alternatively, perhaps you'd be happy dealing with a grumpy, sharp or couldnt really care less attitude from someone so long as it saves you a few quid.

As you say, each to their own, I guess.