I’m currently with a very large online based accountant called Workwell, previously called JSA. I enter all my details using an online FreeAgent portal provided via the accountancy. I select my own salary and use the accounting software to determine how much I may want to pay as dividends from available funds. Only service they provide is to file paperwork and ask me how much salary I want to take so they can setup the RTI side of things. Does the hive mind think it would be advisable to drop my accountant and go for a semi DIY approach and high street accountant?
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Churchill Knight & Boox clients being investigated as Managed Service Companies
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Originally posted by coxy View PostI’m currently with a very large online based accountant called Workwell, previously called JSA. I enter all my details using an online FreeAgent portal provided via the accountancy. I select my own salary and use the accounting software to determine how much I may want to pay as dividends from available funds. Only service they provide is to file paperwork and ask me how much salary I want to take so they can setup the RTI side of things. Does the hive mind think it would be advisable to drop my accountant and go for a semi DIY approach and high street accountant?
However, workwell are very expensive so you could save a fortune by doing slightly more yourself and getting a local accountant to do the rest. Especially if you use a mettle / NatWest / rbs bank account at which point your free agent account is free.merely at clientco for the entertainmentComment
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Originally posted by coxy View PostI’m currently with a very large online based accountant called Workwell, previously called JSA. I enter all my details using an online FreeAgent portal provided via the accountancy. I select my own salary and use the accounting software to determine how much I may want to pay as dividends from available funds. Only service they provide is to file paperwork and ask me how much salary I want to take so they can setup the RTI side of things. Does the hive mind think it would be advisable to drop my accountant and go for a semi DIY approach and high street accountant?
There's a slight irony here, certainly from CK's portal/clients and continues to confirm my theory as to why this has happened. Your portal seems way more guilty than CK's!
CK's portal never did any of that, the only way you had of knowing how much available you had was from your own spreadsheets/bank statements, how much you paid your employees was again defined, not by a portal, but your own budget/profits of your company.
CK did VAT returns and end of year returns as an accountant/book-keeper
If your portal helps you out that much don't be surprised when HMRC come calling for that particular accountancy firm.
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Originally posted by eek View Post
My personal viewpoint is that it’s the initial setup that is all important here,
However, workwell are very expensive so you could save a fortune by doing slightly more yourself and getting a local accountant to do the rest. Especially if you use a mettle / NatWest / rbs bank account at which point your free agent account is free.
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Originally posted by coxy View Post
The portal is FreeAgent, its a standard accountancy package, not bespoke. The amount available after liabilities is shown as the “carried forward/available for distribution” figure. Something all accounting packages will tell you.
Beggars belief that software/portal is allowed on the DIY versions of accounting but it's one of the main charges in the case.
The fees are the thing in this case on which it fails or wins by, always have been always will be.
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Originally posted by GregRickshaw View Post
Except CK's portal....
Beggars belief that software/portal is allowed on the DIY versions of accounting but it's one of the main charges in the case.
The fees are the thing in this case on which it fails or wins by, always have been always will be.
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Originally posted by coxy View Post
Fees as in variable fees related to income of the limited company?
Which they never did but they do offer a dormant/inactive fee so one could argue that fee is higher or lower dependent on the income of the LTD...
It's tenuous at best and outrageous at worst. Hasn't stopped them going for it though
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Originally posted by Fred Bloggs View PostIt was always on the cards, nobody should be surprised. Those of us who have been around the block a few times will remember the composite company providers who overnight became accountancy practises. The only thing that surprises me is how long it's taken to happen.Comment
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Originally posted by Anvipa View Post
I am one of CK's client's who have been affected by MSC investigation. I was wondering why HMRC picked up CK out of vast list of accountancy services company. Could you please let me know what a composite company is? Thank youLast edited by Fred Bloggs; 31 October 2022, 12:21.Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
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Originally posted by Anvipa View Post
I am one of CK's client's who have been affected by MSC investigation. I was wondering why HMRC picked up CK out of vast list of accountancy services company. Could you please let me know what a composite company is? Thank you
However, I maintain the campaign is speculative on it's chances of winning but 100% guaranteed to have sent 100s and 100s of LTD (PSCs) away from LTD models and into PAYE/Brollies. If HMRC should lose it's still a great job well done.Comment
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