SJD just stuffed fees up by over 10%

[VectraMan]

I have to say I've never met my SJD accountant face to face, or been offered the oppurtunity, and being in Hemel Hempstead they're not all that local either. But I've no complaints, and it's a case of "better the devil you know" to a large extent. I don't entirely buy the cliché that a good accountant saves you money, but on the other hand, there's no doubt that a bad accountant can cost you money and there's shocking stories posted on this forum from contractors being misinformed and generally messed about by their small local accountants.

[Wanderer]

All in my opinion of course. You are the one with the successful Accountancy Services company and not me.

You make some fair points there, but to be honest, if you think one of your suppliers charges too much and they won't negotiate on price then you've got to look at the costs/benefits of moving elsewhere. They charge what they think the market will stand and customers decide what they want to do. No point getting too wound up about it, it's just business.

[MarillionFan]

You make some fair points there, but to be honest, if you think one of your suppliers charges too much and they won't negotiate on price then you've got to look at the costs/benefits of moving elsewhere. They charge what they think the market will stand and customers decide what they want to do. No point getting too wound up about it, it's just business.

I think, like banks, that most people will whinge about it but few will actually change. I would suspect the case will be true for the existing SJD posters on this thread.

[Mr.Whippy]

I think, like banks, that most people will whinge about it but few will actually change. I would suspect the case will be true for the existing SJD posters on this thread.

Not me, I've decided to ditch the accountant entirely after my year end and do it myself, with the exception of the year end stuff.

Significant savings, or prison, here I come

[configman]

Not me, I've decided to ditch the accountant entirely after my year end and do it myself, with the exception of the year end stuff.

Significant savings, or prison, here I come

Done my own for 5 years now, difficult the first time but easy after that as you have a template. The only problem I had was getting the information on how to do it in the first place as this tends to be a closely guarded secret by the accountancy profession - a bit like the magic circle. I then found out that most accountants send a sample of accounts in early so if asked to correct them by Companies House or HMRC can with plenty of time and with a warning for the remainder of clients. Companies House are very vague about what is required even when there is a law change and reluctant to help you as I guess it could give you an advantage.

The first year I submitted the accounts 8 months before they needed to be - after four rounds back and forth they were perfect and been accepted first time ever since. I started my year end at 6pm tonight, its now 8pm and they are finished. Just need to do the tax return approx 30 mins. My tax saving is very comparable to those promoted by the accountants on this board and I've been able to devise a tax strategy for my own unique situation - this is something a lot of the accountancy shops fail at. They want everyone in the same pigeon hole. My reason for doing my own accounts is not financial but I wanted them to be understandable by me and to often when accountants did them they looked like they used someone elses books.

[TheFaQQer]

Do your accounts not need to be done or reviewed by a certified / chartered accountant?

[MarillionFan]

Not me, I've decided to ditch the accountant entirely after my year end and do it myself, with the exception of the year end stuff.

Significant savings, or prison, here I come

Same here.

Do your accounts not need to be done or reviewed by a certified / chartered accountant?

Yes.

[Alf W]

So, net result of this thread is that I'm going to be saving my company £240+VAT on what we've paid for accountancy services over the past 12 months and £360+VAT on what we would have paid next year had I not started it. It's also made me think about ways I could save even more. I've 'right-sourced' my accountancy services <ducks>. All for the sake of a couple of hours effort.

Result!

[configman]

Do your accounts not need to be done or reviewed by a certified / chartered accountant?

Companies House are more than aware I do the company accounts, what they told me was it is "strongly suggested" to use an accountant when I first struggled but there was no mention it is mandatory. There is a dependency on company size and/or turnover I think. If accounts are audited (and I'm exempt) then it has to be chartered. HMRC are also aware I prepared the accounts and actually congratulated me on my books being so readable compared to many others - and I could answer all their questions without waiting for the accountant.

[configman]

So, net result of this thread is that I'm going to be saving my company £240+VAT on what we've paid for accountancy services over the past 12 months and £360+VAT on what we would have paid next year had I not started it. It's also made me think about ways I could save even more. I've 'right-sourced' my accountancy services <ducks>. All for the sake of a couple of hours effort.

Result!

It will take several hours to learn it the first time though!! After that easy