Qdos Accounting

[Waldorf]

Qdos Accounting Holdings actually has six shareholders, as you will see once the return has been filed. Post any investment, purchase or MBO, legal and filing documentation is traditionally late within the first year as due diligence checks and verifications are finalised along with audits for the period.

I’m one of the shareholders of Qdos Accounting Holdings and I’ve been with Qdos (in Leicester) for 13 years.

Qdos and FW Accounting share technology but have their own accounting teams. Obviously the structure is of interest to you, so please feel free to PM if you’d like to discuss it in more depth. You’d be more than welcome to pop into our Leicester office to see how it all works.

Thanks for the details, as you were appointed as a director on October I would have thought any due diligence etc would have been done by now, not an excuse to be late with your annual return.

Not really interested in the structure, just like to keep people informed. Thanks for the update but no wish to visit Leicester in the near future.

[Qdos Contractor]

I have to take issue with some of this.

1. You mention 'an investor' in FW - there is only one who owns it all, a Mr AA Gordon.

2. I can see that his investment vehicle is an investor in the QDOS group, but this is entirely separate to the accountancy arm.

3. QDOS Accounting Holding Ltd, is entirely owned by Mr Gordon's investment vehicle, there is NO ownership by the QDOS group based in Leicester.

4. The same group owns FW Accounting Ltd, via QDOS Accounting Holdings, although the annual return incorrectly lists the old name, ie Freelance World Network Holdings Ltd.

5. I suspect that all the accounting is done in Aberdeen and none at all takes place in Leicester despite a Leicester phone number being used on the website.

6. Btw the annual return for QDOS accounting is overdue!!

Qdos Accounting Holdings actually has six shareholders, as you will see once the return has been filed. Post any investment, purchase or MBO, legal and filing documentation is traditionally late within the first year as due diligence checks and verifications are finalised along with audits for the period.

I’m one of the shareholders of Qdos Accounting Holdings and I’ve been with Qdos (in Leicester) for 13 years.

Qdos and FW Accounting share technology but have their own accounting teams. Obviously the structure is of interest to you, so please feel free to PM if you’d like to discuss it in more depth. You’d be more than welcome to pop into our Leicester office to see how it all works.

[Waldorf]

Qdos Accounting

Not quite. There was an MBO of Qdos and an investor in FW Accounting also invested in Qdos.

Whilst we use the technology developed by FW, Qdos Accounting is very much built around our existing expertise. We’ve always done accounts on a small scale but the addition of FWA’s systems, which we've significantly improved since the MBO, means we can provide the service to far more contractors.

I have to take issue with some of this.

1. You mention 'an investor' in FW - there is only one who owns it all, a Mr AA Gordon.

2. I can see that his investment vehicle is an investor in the QDOS group, but this is entirely separate to the accountancy arm.

3. QDOS Accounting Holding Ltd, is entirely owned by Mr Gordon's investment vehicle, there is NO ownership by the QDOS group based in Leicester.

4. The same group owns FW Accounting Ltd, via QDOS Accounting Holdings, although the annual return incorrectly lists the old name, ie Freelance World Network Holdings Ltd.

5. I suspect that all the accounting is done in Aberdeen and none at all takes place in Leicester despite a Leicester phone number being used on the website.

6. Btw the annual return for QDOS accounting is overdue!!

[Alan @ BroomeAffinity]

Qdos Accounting

No idea where that's come from, but it's definitely not the case. Perhaps you're thinking of another Aberdeen/oil and gas accountant.

Must be. Sorry.

Edit: it was pipeline not fw. My apologies.

[Qdos Contractor]

I never knew this. My understanding was that FW was bought by a IoM "tax solution" company for a massively inflated price because they had the feeling they'd be able to harvest a load of the contractors into their solution.

No idea where that's come from, but it's definitely not the case. Perhaps you're thinking of another Aberdeen/oil and gas accountant.

[Qdos Contractor]

Qdos accounting is only another trading name for FW Accounting, what used to be Freelance Workd, an old MSC based in Aberdeen. Qdos was bought by the person who owns FW and saw an opportunity to piggy back on the Qdos brand.

Not quite. There was an MBO of Qdos and an investor in FW Accounting also invested in Qdos.

Whilst we use the technology developed by FW, Qdos Accounting is very much built around our existing expertise. We’ve always done accounts on a small scale but the addition of FWA’s systems, which we've significantly improved since the MBO, means we can provide the service to far more contractors.

[Alan @ BroomeAffinity]

Qdos accounting is only another trading name for FW Accounting, what used to be Freelance Workd, an old MSC based in Aberdeen. Qdos was bought by the person who owns FW and saw an opportunity to piggy back on the Qdos brand.

I never knew this. My understanding was that FW was bought by a IoM "tax solution" company for a massively inflated price because they had the feeling they'd be able to harvest a load of the contractors into their solution. Maybe that didn't go to plan. The company "Qdos Accountancy Holdings Ltd" was formerly "Freelance World....Ltd" so its obviously correct.

Although @maslins said they Qdos said they will keep them separate, I'd definitely have my reservations. The Brooksons deal was centred around the new owner being able to offer a whole suite of "contractor services" which I take to mean insurance, mortgages etc etc. I'd guess this, and the SJD/NW deal to have similar aspirations.

[Dallas]

Yes, 2 months in - so far so good.

Based in Leicester.

[Maslins]

Qdos accounting is only another trading name for FW Accounting, what used to be Freelance Workd, an old MSC based in Aberdeen. Qdos was bought by the person who owns FW and saw an opportunity to piggy back on the Qdos brand.

Seems to have had the effect of other accountants stopping using Qdos.

Interesting, wasn't aware of the first para above.

Re second paragraph, yes, many did (we didn't) as they questioned the relationship. Ie worry that accountants recommend all their clients use QDOS for insurances, QDOS then emails all clients to say "by the way we now do accountancy", client potentially leaves accountancy firm. QDOS promised to keep the businesses very separate and not use each other's marketing data. We haven't lost a single client to QDOS accounting to date...whether that proves anything or not I don't know.

Re the OP, certainly QDOS have a good name in the insurance world.

[Waldorf]

Qdos accounting is only another trading name for FW Accounting, what used to be Freelance Workd, an old MSC based in Aberdeen. Qdos was bought by the person who owns FW and saw an opportunity to piggy back on the Qdos brand.

Seems to have had the effect of other accountants stopping using Qdos.

[JB3000]

Has anyone used Qdos for their accounting services and if so what has your experience been so far?

No- but I do for IR35 and insurance and they are very good, especially IR35.

There are some IR35 reviewers who will just fail you and say tough luck, but Qdos definitely go the extra mile for a reasonable price.

As long as you get one point of contact (as opposed to a team) and as long as you get an online portal like Free Agent you can't go wrong. They know the contract industry inside out. If the accountants are anything like their IR35 reviewers you will be well looked after.

You might want to arrange a face to face if you are worried.

[Debz]

Has anyone used Qdos for their accounting services and if so what has your experience been so far?