Reply to: Quote from brookson

[stek]

I knew there was a reason I worked with numbers....

I want to be Robert Webb, but I'm actually David Mitchell.....

[Jessica@WhiteFieldTax]

I don't doubt there are some good competent advisors as well Jessica (yourself included), I just think that lately there have been far too many coming in with an attractive proposition but no intention of delivery.

On that I would agree. Generally the flashier the web site the faster I would run away...

[Dan@OrangeGenie]

...s

I knew there was a reason I worked with numbers....

[Dan@OrangeGenie]

I'd agree with your first point Daniel - the most egregious adjustment I ever saw was shortly after IR35 came in and involved including the discounted value of SERPS.

However on your last point, I think that's a bit sweeping. There are some fly by night accountants around, but also plenty of good competent advisors as well. It's not as hard as you make it sound.

I don't doubt there are some good competent advisors as well Jessica (yourself included), I just think that lately there have been far too many coming in with an attractive proposition but no intention of delivery.

[stek]

The math.. is always the same whichever accountant you use. Some just choose to show the percentage based on what you draw from the company, some after personal tax is taken into account, entrepreneurs relief, expenses levels, FRS %, pensions, spouses, cat, dog etc etc

The truth is, are you compliant? - That’s the outcome you have to worry about.

I've worked with contractors for over 15 years now and seen loads of fancy take home calculators designed by 'accountants'.

What you'll struggle to find is an accountant that can deliver, is willing to work closely with you when it comes to compliance and helps you achieve the best from your company.

...s

[Jessica@WhiteFieldTax]

The math is always the same whichever accountant you use. Some just choose to show the percentage based on what you draw from the company, some after personal tax is taken into account, entrepreneurs relief, expenses levels, FRS %, pensions, spouses, cat, dog etc etc

The truth is, are you compliant? - That’s the outcome you have to worry about.

I've worked with contractors for over 15 years now and seen loads of fancy take home calculators designed by 'accountants'.

What you'll struggle to find is an accountant that can deliver, is willing to work closely with you when it comes to compliance and helps you achieve the best from your company.

I'd agree with your first point Daniel - the most egregious adjustment I ever saw was shortly after IR35 came in and involved including the discounted value of SERPS.

However on your last point, I think that's a bit sweeping. There are some fly by night accountants around, but also plenty of good competent advisors as well. It's not as hard as you make it sound.

[Dan@OrangeGenie]

Hi i got quoted from brookson that with 300/pd rate i will get a 83% take home. Is that possible or they are just fishing and trying to get a new customer? Im comparing that with calculators on competitors and thats the best number so far
Is that fairly normal take home amount for contractor?
How much realistically you take home?
Please advise , im starting my first contract soon and looking for the right accountant.
Thanks in advance

The math is always the same whichever accountant you use. Some just choose to show the percentage based on what you draw from the company, some after personal tax is taken into account, entrepreneurs relief, expenses levels, FRS %, pensions, spouses, cat, dog etc etc

The truth is, are you compliant? - That’s the outcome you have to worry about.

I've worked with contractors for over 15 years now and seen loads of fancy take home calculators designed by 'accountants'.

What you'll struggle to find is an accountant that can deliver, is willing to work closely with you when it comes to compliance and helps you achieve the best from your company.

[BlasterBates]

An accountant actually can't tell you what your take home will be. So as everyone here says it's irrelevant.

What you are quoted is a "ballpark figure" and is not the take home you will actually get. It will be different. The take home could range from 70% to over 80% depending on the decisions you take and utlimately is determined by you and the rules set by HMRC not the accountant.

All you want from an accountant is a good professional service, and one who can outline those choices for you.

[arby]

And another no vote for Brookson. If you haven't already done so have a read of http://forums.contractoruk.com/accou...countants.html

[flatlander]

Another bad Brookson experience

I also had a bad experience with Brookson, was given the wrong advise several times, communication took days for them to respond to.
They are very expensive for what you get too.

[sam2015]

Run in the other direction

Hi i got quoted from brookson that with 300/pd rate i will get a 83% take home. Is that possible or they are just fishing and trying to get a new customer? Im comparing that with calculators on competitors and thats the best number so far
Is that fairly normal take home amount for contractor?
How much realistically you take home?
Please advise , im starting my first contract soon and looking for the right accountant.
Thanks in advance

I would warn against trying out Brookson, I joined them 2 years ago and it was a complete nightmare. I luckly looked at a quick exit strategy but to this day their mistakes still haunt me. There are loads of good accountants out there, bigger doesnt always mean better.

[cojak]

Your take home will not vary proportional to the accountant you use. When HMRC investigate which they will the Brookson papers go in the bin. I've just had over £900 demand from HMRC when Brookson have been doing my books. Am presently in process of closing my Brookson company. Think double glazing, people will tell you any old rubbish to make a buck out of you..

Yes, it will vary if you believe what these people say.. HMRC will investigate if you were daft enough to believe the '84% take home' guff.

[pwep]

rubbish Brookson

Your take home will not vary proportional to the accountant you use. When HMRC investigate which they will the Brookson papers go in the bin. I've just had over £900 demand from HMRC when Brookson have been doing my books. Am presently in process of closing my Brookson company. Think double glazing, people will tell you any old rubbish to make a buck out of you..

[Jessica@WhiteFieldTax]

Made me smile too

My credentials can be found here though (3rd person down)

#AAYP 2015: Accountancy Age's 35 under 35 - 20 May 2015 - Accountancy Age

Ohh get you

Congratulations, I was under 35 once

[Chris at CrunchAccounting]

Calling someone an accountant for Crunch is insulting? 😁😁

Chris might be insulted by that lol

I know what you mean but made me smile that one.

Made me smile too

My credentials can be found here though (3rd person down)

#AAYP 2015: Accountancy Age's 35 under 35 - 20 May 2015 - Accountancy Age