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Churchill Knight & Boox clients being investigated as Managed Service Companies

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    Just got my notice relating to national insurance contributions. It doesnt even say which period it relates to or a breakdown of the calculations.
    I just see earnings of £120k and tax of £24k...this is all so bizarre (i took 20k in 18/19, 50k in 19/20...). Feels like HMRC are making up the rules as they go along.

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      Originally posted by hgllgh View Post

      .... and then just use a local accountancy with no real online presence?
      Yeah what I really meant by that is don't use an accountant like CK or Boox (Or others such as InniAccounts) where they basically have an online software portal that attempts to run your business for you. ie. You create an online account, pay them every month with yourself doing very little but sit back and watch. One with a simple website advertising their services is fine.

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        Originally posted by mogga71 View Post

        Yeah what I really meant by that is don't use an accountant like CK or Boox (Or others such as InniAccounts) where they basically have an online software portal that attempts to run your business for you. ie. You create an online account, pay them every month with yourself doing very little but sit back and watch. One with a simple website advertising their services is fine.
        Which CK never did anyway.

        Comment


          Originally posted by mogga71 View Post

          Yeah what I really meant by that is don't use an accountant like CK or Boox (Or others such as InniAccounts) where they basically have an online software portal that attempts to run your business for you. ie. You create an online account, pay them every month with yourself doing very little but sit back and watch. One with a simple website advertising their services is fine.
          I don't get it tbh. What's the difference between using FreeAgent + accountant and a in-house accountant's tool?

          Comment


            Originally posted by fabios View Post
            I don't get it tbh. What's the difference between using FreeAgent + accountant and a in-house accountant's tool?
            Just that HMRC are targeting those with in-house tools.

            Comment


              Originally posted by fabios View Post

              I don't get it tbh. What's the difference between using FreeAgent + accountant and an in-house accountant's tool?
              I genuinely think all of this is flawed and will be proven in court. It's just that we all have to suffer in the interim.

              The fact is, moving forward, as this case drags on, I would for the foreseeable future, avoid using 'large online accounting/bookkeeping firms'. The reason is, HMRC is at this point, going after large accounting firms to make their efforts and money spent worthwhile, in addition, they have for some reason found a loophole in 'non-traditional accountants' as easy targets, with online accounting firms who provide a convenient service being an easy target, specifically the ones which have 'special offers' and packages, which IMO is not an illegal way to operate but all will be proven in due course.

              Personally, I have changed my accountants recently to a high street family-run business that uses Xero for bookkeeping purposes. Although I am caught up in this mess like you all, I am not in a position to self-teach how to become an accountant. There is a reason why there are accountants.





              Comment


                Originally posted by jimmyoyang View Post
                Personally, I have changed my accountants recently to a high street family-run business that uses Xero for bookkeeping purposes.
                Sounds even more dodgy, you are using accountant who is using some unknown software. Who knows now who runs your company

                Comment


                  Originally posted by fabios View Post
                  Sounds even more dodgy, you are using accountant who is using some unknown software. Who knows now who runs your company
                  Xero is hardly unknown - it's a global accountancy software package headquartered in New Zealand.
                  merely at clientco for the entertainment

                  Comment


                    Originally posted by eek View Post

                    Xero is hardly unknown - it's a global accountancy software package headquartered in New Zealand.
                    that was sarcasm

                    Comment


                      But, exactly that.... it's so preposterous that we no longer know what's a joke or sarcasm. This whole thing is just a mess.

                      Imagine if HMRC wins this (very likely according to most) and if they do... Gorilla Accounting, Parasol, PayStream, The Accountancy Partnership, Debitam, to name a few, will all be under investigation (and most likely found as an MSCP and we know what happens to the contractors). And, just think about the number of contractors involved at that point, we will be talking hundreds of thousands, who will all be in debt of £100K plus.

                      I know we moan there isn't a big enough spotlight on this injustice (for CK and Boox peeps), but if the above happens, I can only imagine this creating shockwaves in not only the contracting industry but on a more mainstream level. I just cannot see it happening. Too many are affected at astronomical costs and majority, if not all, actually paid their taxes as per the rules. They / we played by the book.

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