Accountant recommendation threads inc local requests

[1manshow]

They are somewhat simple... until they become complicated and that's when your outlay on an accountant pays for itself. How do you know if they are simple if you've only been going 3 months BTW? At the very least run it for a year+ so you get each of the yearly events out the way like Company Tax and SA and associated questions like claiming for xmas lunches.

Are you 100% au fair with the 24 month rule, allowable expenses, doing VAT, directors loans?
89+VAT really isn't going to break the bank.

Stay with an accountant but get a FA one.

I did say I may be missing something having only been in the contracting world for 3 months.

I should be quite well versed with most or at least pick it up quickly as, although I’m now in the IT sector, I became a qualified financial advisor prior to entering this sector. Truthfully it’s more how much time can I save for the cost - if I still have to do a lot of the donkey work, it would be frustrating!

The take home calculators are funny on all the sites, Dolan/SJD give me a take home of £7300 a month while Gorilla Accouting give just under £6000 - wonder what those assumptions are which cause the huge discrepancy (or if it’s just a calculator bug!). Wish they all gave a break down as to how they got to their figures.

[northernladuk]

If you think you know how to do your own accounts why not run the numbers and come up with your own figure.

[1manshow]

If you think you know how to do your own accounts why not run the numbers and come up with your own figure.

Oh I did, I’m just wondering what trickery they used to get the inflated figure. Multiple directors perhaps or use of director loans? *shrugs*

[Darren at Fox-Bartfield]

The take home calculators are funny on all the sites, Dolan/SJD give me a take home of £7300 a month while Gorilla Accouting give just under £6000 - wonder what those assumptions are which cause the huge discrepancy (or if it’s just a calculator bug!). Wish they all gave a break down as to how they got to their figures.

Calculators are based on extracting all the cash, basically stripping out every penny during the year, they don't take into consideration proper tax planning so should only be used as a guide. In theory, they should all be using the same rules but there may be a variety of assumptions in there, including company structure, expenses, pensions, etc. Why not ask for a breakdown of the calculation which will then highlight any differences.

In any event, use them as a guide. Your actual circumstances will be the same in any event.

[Wijay@WISAccountancy]

I did say I may be missing something having only been in the contracting world for 3 months.

I should be quite well versed with most or at least pick it up quickly as, although I’m now in the IT sector, I became a qualified financial advisor prior to entering this sector. Truthfully it’s more how much time can I save for the cost - if I still have to do a lot of the donkey work, it would be frustrating!

The take home calculators are funny on all the sites, Dolan/SJD give me a take home of £7300 a month while Gorilla Accouting give just under £6000 - wonder what those assumptions are which cause the huge discrepancy (or if it’s just a calculator bug!). Wish they all gave a break down as to how they got to their figures.

Calculators are based on assumptions (some are not realistic). Each individual has different circumstances so best to do one for your self on an excel. Happy to share a template we use for our clients.

[1manshow]

What are some accountancy recommendations who offer both FreeAgent and also provide insurance as part of their service/package?

[Michael at BI Accountancy]

What are some accountancy recommendations who offer both FreeAgent and also provide insurance as part of their service/package?

Get an accountant who offers FreeAgent as priority, In my opinion it's better to go direct on the insurance requirement with the likes of Hiscox, Kingsbridge and Qdos.

[Darren at Fox-Bartfield]

Insurance

Get an accountant who offers FreeAgent as priority, In my opinion it's better to go direct on the insurance requirement with the likes of Hiscox, Kingsbridge and Qdos.

+1, always a bit dubious about the quality of the policies offered as part of any package.

[PTP]

Does anyone know a good contractor accountant that doesn't use Freeagent?

I think it's no coincidence that my accountant's standards dropped when they started using Freeagent. Whenever they make a mistake (too often ) they blame the computer. So I don't want another accountant who thinks Freeagent will do all the work for them.

[northernladuk]

Does anyone know a good contractor accountant that doesn't use Freeagent?

I think it's no coincidence that my accountant's standards dropped when they started using Freeagent. Whenever they make a mistake (too often ) they blame the computer. So I don't want another accountant who thinks Freeagent will do all the work for them.

What? You just said the accountant made the mistake not FA so why look for one without it? That doesn't make sense at all.