Change an accountant

[clwd]

How long does it take to move all the paperwork from my current accountant to a new one? The problem is that my VAT , flat rate scheme and even the business bank account are still in the middle of being created. In addition, I am using their office address as my registered office address. If I change a new accountant now, I don’t know whether it will be a further delay to start trading as I haven’t received any salary from my agency for more than a month because my bank account is not open.

Another thing annoying me is that I haven’t received any monthly reports from my accountant yet they promised me to produce these once they received all my expenses and invoices, almost two weeks ago. The reason they claim to be unable to produce the report is that they need to wait for my PAYE information from Inland Revenue. Is it really true that the monthly financial report cannot be generated until PAYE information has been received? Honestly, I would like to get some idea how much income and dividend I should pay for myself based on this report. I am getting impatient with them and have no idea when I can start trading if I still stick with them.

Any comments are greately appreciated

[Dante]

I'm assuming that you are talking about Nixon Williams?

If i were you i'd bear with it - i've had an equally painful and prolonged start up affair with them, but i do believe that they are doing their best and will be an asset to my Ltd co. after a month or two.

The PAYE info needs to come from the IR - thats true. When did you get your P45 / P46 over to them?

I had no end of difficulty obtaining my P45 from GIANT since i gave them a load of grief on leaving. I therefore put in a P46 (as the ltd co started trading just after the start of the tax year) and this has sped things up.

If you start the ball rolling with a different accountant you'll still have this grief PLUS whatever new and different hoops your next accountant wants you to jump through.

I think the real problem is that you're (naturally) worrying about getting paid. At the end of the day it's your business and if you choose to pay yourself a small divvy to tide you over - do it. An accountant can backdate a dividend voucher to cover it.

HTH.

Dante

[Nixon Williams]

Assuming you are taking about us........

Sadly we have no control over VAT registrations and with regards to bank accounts we are pushing as fast as we can. The fact is that the huge increase in new ltd companies after the closure of MSC's has caused these delays.

As for calculating salary etc, we do not have any outstanding paperwork for any client. We are managing to process all our post the same day we receive it.

We do ask for a P45 or P46 but this is asked for when we first take a client on.

based on the above I doubt CLWD is one of our clients, but if you are please get in touch because we are not aware of any client waiting for any profit calculations etc.

Alan

[clwd]

Thanks for all your comments.

I understand the whole chaotic situation after the latest MSC legislation changed. When I decided to setup my new ltd company 2 months ago, I didn’t expect I am still unable to start trading, especially after I had submitted my business bank application and P46 to them 6 weeks ago.

I have found that it depends on whether you are lucky to be assigned a good and an experienced account manager. The thing is you will never know if the accountants are any good until you put them to the test.

Now, I am getting fed up with continually chasing them to answer my emails or follow up my case. Guys, your responses so far have been much, much better than my accountant.


Bty, Alan, you are right, I am not your client.

[timh]

As long as the company exists there's nothing to stop you from trading with it - if you don't have a bank account by the time you want to invoice either ask for payment by cheque or hold off on the invoicing until you do.

Worst case scenario, you give up and walk into the high street bank your personal account is with and set up a business account with them - should take a few days max.

[TheRightStuff]

don't know how much you are paying for your accountant but it's best to pay a bit more ie. SJD for good service.

[hp1]

On a similar theme: are your accountants charging you for terminating your business with them?
I used paystream for five invoices, found them to be terrible so told them I was leaving They are trying to sting me for £200 to send my finalised accounts to my new accountant. Their breakdown is:

Trial balance, tax reconciliation 2.5 hrs at £40 ph = £100
Copy of company documents, prepare copy file 5 hrs at £15 = £75
Package and post £5
CHAPS cost £20
Total cost £200


Assuming they try to withold money I shall take them to court. Both my new accountant, and my lawyer brother-in-law think they are taking the p*** with this level of charge.
Anyone had any similar experiences?

[Ledge]

On a similar theme: are your accountants charging you for terminating your business with them?
I used paystream for five invoices, found them to be terrible so told them I was leaving They are trying to sting me for £200 to send my finalised accounts to my new accountant. Their breakdown is:

Trial balance, tax reconciliation 2.5 hrs at £40 ph = £100
Copy of company documents, prepare copy file 5 hrs at £15 = £75
Package and post £5
CHAPS cost £20
Total cost £200


Assuming they try to withold money I shall take them to court. Both my new accountant, and my lawyer brother-in-law think they are taking the p*** with this level of charge.
Anyone had any similar experiences?

I've found them to be awful as well, but as its my first company I'm waiting til I'm up and running before leaving them.

It's been 3 months and I havent received a dime. I did read on the website that there is no charge for leaving after 3 months but if you leave before then you will incur a charge in the region of £200. I would read the t&c of any paperwork they sent you.

Avoid paystream like the plague.

[Epiphone]

I've found them to be awful as well, but as its my first company I'm waiting til I'm up and running before leaving them.

It's been 3 months and I havent received a dime. I did read on the website that there is no charge for leaving after 3 months but if you leave before then you will incur a charge in the region of £200. I would read the t&c of any paperwork they sent you.

Avoid paystream like the plague.

Couldn't agree more. I coughed up just to get the name as I'd already got busines cards, flyers, website etc done. I liketo think of it as a lesson learned rather than being hit for 200 notes

[mattwalsh]

PayStream

I've been contracting since January and have used PayStream but have found them to be very good. They have probably over-communicated with me regarding the legislation changes but seem to have correctly predicted outcomes at each stage. They are now doing less for me (I have to control my own company bank account) but they tell me this is necessary due to the legislation. They have always been well informed when I have queried anything but is there any provider out there offering a service where I don't have to control my own bank account - it really is a pain!