I understand NW's point - although I don't necessarily agree with it - but there is a deeper issue here.
It's your company. You should have (legally, you are required to have) a good awareness of its trading position at all times. It doesn't need to be in minute detail, but enough that you know how much you can withdraw (for any reason) and what its current commitments are. Sole Traders can get away with dumping everything on their accountant (which is why they pay more for them) but company directors can't unless the accountant is an officer of the company.
Yeah, I know, that knowledge is what I pay my accountant for. Going by NW's answer, it seems you don't. Apart from which, I would want to know roughly where I stood - how much in the bank, how much owed for VAT, CT and anything else and how much is spare. Actually I do, to within a couple of hundred pounds, since I put everything on a spreadsheet.
It's your company. You should have (legally, you are required to have) a good awareness of its trading position at all times. It doesn't need to be in minute detail, but enough that you know how much you can withdraw (for any reason) and what its current commitments are. Sole Traders can get away with dumping everything on their accountant (which is why they pay more for them) but company directors can't unless the accountant is an officer of the company.
Yeah, I know, that knowledge is what I pay my accountant for. Going by NW's answer, it seems you don't. Apart from which, I would want to know roughly where I stood - how much in the bank, how much owed for VAT, CT and anything else and how much is spare. Actually I do, to within a couple of hundred pounds, since I put everything on a spreadsheet.
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