Accountant recommendation threads inc local requests

[Fred Bloggs]

Hi - I'm a newb. This thread is really valuable - but is anyone just using FreeAgent directly to cut out the middle man?

If you're determined to use FA and go DIY, then I think I'd take a look at the TaxCalc Limited Company software. It seems that for about GBP 90 it does all the Ltd Company corporation tax years ends and stuff. So that way you could complete the returns yourself using FA data to complete where FA presently stops short. (Disclaimer - I haven't used it myself).

[EinsteinTax]

Hi - I'm a newb. This thread is really valuable - but is anyone just using FreeAgent directly to cut out the middle man?

It's possible to have a direct FreeAgent subscription without going through an accountant, but you will need to export the data from FreeAgent to create the year end accounts and Corporation Tax returns.

I think FreeAgent have plans to include Account Production in future, but it's not available yet.

There are some low cost accountants out there (including us) that will provide a basic accounting package with FreeAgent subscription and year end filing for around the same cost as a standard FreeAgent subscription, so the "middle man" costs needn't be too large.

[SeanT]

Hi - I'm a newb. This thread is really valuable - but is anyone just using FreeAgent directly to cut out the middle man?

[Underbase]

+1 For BIAccountancy

After a decent search I picked BI Accountancy as well. I am now coming up two years in business and been through a full cycle of accounts and taxes.

At the start Micheal at BI told me that to start with I should do my own bookkeeping and not outsource it at the start (this note meant less money for them!). But they have helped my wife and I at every turn with our queries no matter how trivial. This has helped us intimately understand our company, cash flows etc and has given us the confidence to start building our plan B.

Michael seems to always be available, on top of the accounts and even if I get busy and forget to review his reports etc he gently reminds us.

I have no problems recommending him and hope as we grow with plan B they can accommodate us there as well!

[TheNewGuy]

Thanks for your advice, Kenny, Contreras & Michael.

I'll start by making a list of questions I want to ask them (there are lots!), and probably pick a more well known firm who specialise in contractors.

I do want to start a small business in the future, but for now I'm just contracting. So based on your advice and the majority of advice in this thread, it looks like FreeAgent is the way to go - if the business ever outgrows it I can always switch to Xero I suppose.

I'll post again in a few months to let people know who I chose and how I got on with them

Okay so it's a bit later than the few months I promised, but here's who I picked and a review:

I called up several accountants and ended up choosing Michael McCullion of BI Accountancy.

I chose Michael because I'd called him up to ask a few accounting based questions - a conversation that ended up lasting about an hour (I was brand new to contracting!) - and he diligently answered all my questions. And also because he uses FreeAgent, which means I can easily generate invoices and see my accounts.

I went for the middle package which back then was also £110 a month + VAT. So I do my own bookkeeping (i.e. putting in receipts/invoices) but Michael does all the rest.

Overall I've been very impressed. At the start he took the time to take me through FreeAgent and the ins and outs of contractor accounting (over a screen-sharing video call app). And every time I've had a question Michael has answered my emails within about half an hour, and with a full explanation. Sometimes he's followed up with a phone call for my more complex questions. There is good communication around Self Assessment time and what changes in government budgets mean for me, etc.

He also went above and beyond and helped me out by taking care of some tax complications from taxes I messed up several years ago, which was very nice of him.

Overall I'm very happy with the price and service, and would recommend him (indeed I have already recommended him to a friend who started contracting last year).

[Fred Bloggs]

Yes - I agree. I could understand restricting access if the accountant was filing the VAT returns for the client as part of the service, but not allowing the client to use the FreeAgent integration that allows VAT returns to be filed in seconds with a few button clicks seems unfair.

Possibly just an admin error when they were setting up the FreeAgent account. I'm sure if Fred Bloggs contacts 1st OnLine they would be able to give him access (if indeed that is the problem).

Like I say, it's 99% probable it's just me being dopey with FA (I will check though). TBH, manual submissions using the FA VAT figures is no big deal every 3 months anyway.

[EinsteinTax]

Given that the accountant is not submitting the VAT returns on the client's behalf, I think it would be very strange for them to restrict access to not include this "benefit" FreeAgent offers.

Granted the accountant may not want them posting journals, but for that very rare occasion if you are reviewing the accounts frequently then this would be picked up on and adjusted rather easily.

Yes - I agree. I could understand restricting access if the accountant was filing the VAT returns for the client as part of the service, but not allowing the client to use the FreeAgent integration that allows VAT returns to be filed in seconds with a few button clicks seems unfair.

Possibly just an admin error when they were setting up the FreeAgent account. I'm sure if Fred Bloggs contacts 1st OnLine they would be able to give him access (if indeed that is the problem).

[Fred Bloggs]

Given that the accountant is not submitting the VAT returns on the client's behalf, I think it would be very strange for them to restrict access to not include this "benefit" FreeAgent offers.

Granted the accountant may not want them posting journals, but for that very rare occasion if you are reviewing the accounts frequently then this would be picked up on and adjusted rather easily.

Regarding the FA VAT returns, I haven't looked yet, but I'm pretty sure it'll be a case of me being rather numpty with it actually.

[Michael at BI Accountancy]

It depends on the access levels that have been set up in FreeAgent. Filing VAT returns requires the top level of access (8 - Full Access).

Full Access also allows you to file self assessment tax returns and to post journals, so accountants sometimes prefer not to give clients full access.

Given that the accountant is not submitting the VAT returns on the client's behalf, I think it would be very strange for them to restrict access to not include this "benefit" FreeAgent offers.

Granted the accountant may not want them posting journals, but for that very rare occasion if you are reviewing the accounts frequently then this would be picked up on and adjusted rather easily.

[northernladuk]

Cheers for that. I am rather a numpty with things like that. But to be honest, manually filing takes 10 minutes every three months, so I'm not complaining. Nice to know though.

Should have asked your accountant