Operating PAYE

[bobsmithldn]

Hi All,

I am a IT contractor operating my own ltd co. (wife = director and me = co-sec). Our accountant is processing our PAYE so far and currently we are paying £50 +
...

Comments most welcome. Please correct me if i am wrong anywhere. or if you think £50 +vat is reasonable or cheap and we are better off going with the current accountant.

Thanks
Ganesh.

Simpler solution - don't pay yourself, just get a massive divi' and argue when IR come knocking on the door!

[MrsGoof]

I've got an excel spreadsheet to do it, provided by my accountatn but in the past I used HMRC supplied material.

I can't find details of obtaining Employers pack but i did find http://payecalculator.inlandrevenue.gov.uk/PAYE0.aspx

[Lockhouse]

Hi Ganesh,

The fees are for everything including VAT returns, PAYE, preparation and submitting of accounts and tax advice.

[Ganesh]

I've got an excel spreadsheet to do it, provided by my accountatn but in the past I used HMRC supplied material.

I can't find details of obtaining Employers pack but i did find http://payecalculator.inlandrevenue.gov.uk/PAYE0.aspx

Thanks for letting me know.
I dont have all the details right now to check with the URL above. but will definitely try to use it.

Regards,

[Ganesh]

Hi Ganesh,

The fees are for everything including VAT returns, PAYE, preparation and submitting of accounts and tax advice.

Thanks Lockhouse.
Our accountant let us do the VAT return on our own. so he doesnt charge us for that. But this also means that he is not doing it either.
Now feeling like we are being ripped off.

more comments welcome from all.

Regrds,

[malvolio]

Please, stop pratting around. Three questions for you...

(a) How much is your time worth an hour?

(b)How much time do you spend faffing around with paperwork an accountant will do for £100 a month tops?

(c) If ((a*b) > £100), why are you even asking the question? Get the accountant to do it all.

[Ruprect]

I use Nixon Williams (link on this site somewhere I think) who are generally quite good; 60ish pcm which includes VAT returns, PAYE, End of Year accounts.

Like Malviolo says - its a no brainer really.

[Ganesh]

Please, stop pratting around. Three questions for you...

(a) How much is your time worth an hour?

(b)How much time do you spend faffing around with paperwork an accountant will do for £100 a month tops?

(c) If ((a*b) > £100), why are you even asking the question? Get the accountant to do it all.

Hi Malvolio
Thanks for the reply and I agree with you fully. This is the approach I took for the past 2 years. We gave our accountant full authority to deal with companies house, inland revenue and PAYE. We also let hime be our agent for filing our personal income tax returns.

But even after paying for the accountant, we end up with still spending the same amount of time and effort, correcting his mistakes in the final accounts etc. (I am sure you have read my other posts in this thread above.) Hence we think of taking full responsibility for at least some of these issues, rather than be totally dependent on the accountant.

Please dont think I am against employing an accountant for the co. I am still open to move to another accountant and let him do the job for us. But I need to know, what is good value and what is not, from you all, just to prevent us (other readers in this forum) from being ripped off.

Hope you understand. I welcome your comments / suggestions again.

Regards,
Ganesh

[Ganesh]

I use Nixon Williams (link on this site somewhere I think) who are generally quite good; 60ish pcm which includes VAT returns, PAYE, End of Year accounts.

Like Malviolo says - its a no brainer really.

Hi,
Thanks for letting me know your accountants. I will keep this in mind before deciding.

Regards,
Ganesh

[malvolio]

Yeah, that's the point - an accountant that costs money or effort to support is merely an expensive and pointless overhead. Sack them and get one that does the job for you - IstAccounting, SJD or Nixon Williams seem to be favourites around here.