Reply to: Is it me, my accountant or my Ltd company?

[Platypus]

house extension through the company, company cars but no BiK etc. there is no come back so they think everything is OK

I sometimes wonder if I'm the mug, trying to play a straight bat. I heard (from the bookkeeper) of a local company that puts expensive family holidays through the books whereas I fret even thinking about putting a telly though as a Display Solution.

Maybe I too should switch accountants

[northernladuk]

Wow, what incredibly stupid advice you were given.

It is but I've met a couple of contractors doing exactly this, house extension through the company, company cars but no BiK etc. Sadly there is no come back so they think everything is OK. Some non contractor accountants think this is OK but I just dont think we can get away with it like a medium sized company can.

[Fred Bloggs]

Thanks all.

Its me! It definitely is!

I think my 'current' issue is that my 'Crunch' is a mess, out of date etc. It looks horrendous.

I need to get it up to scratch and then keep on top of it.

My previous accountant was old skool - "Just spend your money and then we'll sort it out at the end of the year" is something I remember hearing from him, and I've never quite got that out of my mind!

Don't get me wrong, I've always paid my VAT and Corp Tax, but I'm just not in the position where I should be; i.e. in perfect control of my and my companies money!

Wow, what incredibly stupid advice you were given.

[LondonManc]

Find a local account, one who can answer your "daft" questions. Why should a successful builder or shopkeeper also be able to easily grasp accounting? With a decent local accountant you hire the help you need. But don't expect free dashboards and cloud thingies and spreadsheets. In fact you'll be glad when you say goodbye to all that. But a local person will inevitable be a lot more expensive.

You pays yer money ...

Surely he's better with a contractor accountant than a local one?

That said, someone like SJD has a network of offices so, for good or bad, they may be the ideal one to get him up and running as he should be. Yes, they cost a bit more than others, but it sounds like he needs the facility to be able to go in and have a chat with experienced contractor accountants rather than simply have a web-based solution that others are fine with.

[Platypus]

Find a local account, one who can answer your "daft" questions. Why should a successful builder or shopkeeper also be able to easily grasp accounting? With a decent local accountant you hire the help you need. But don't expect free dashboards and cloud thingies and spreadsheets. In fact you'll be glad when you say goodbye to all that. But a local person will inevitable be a lot more expensive.

You pays yer money ...

[dx4100]

Thanks all.

Its me! It definitely is!

I think my 'current' issue is that my 'Crunch' is a mess, out of date etc. It looks horrendous.

I need to get it up to scratch and then keep on top of it.

My previous accountant was old skool - "Just spend your money and then we'll sort it out at the end of the year" is something I remember hearing from him, and I've never quite got that out of my mind!

Don't get me wrong, I've always paid my VAT and Corp Tax, but I'm just not in the position where I should be; i.e. in perfect control of my and my companies money!

If you want to transfer it to me I am happy to "look after it" for you

[peterc2609]

Thanks all.

Its me! It definitely is!

I think my 'current' issue is that my 'Crunch' is a mess, out of date etc. It looks horrendous.

I need to get it up to scratch and then keep on top of it.

My previous accountant was old skool - "Just spend your money and then we'll sort it out at the end of the year" is something I remember hearing from him, and I've never quite got that out of my mind!

Don't get me wrong, I've always paid my VAT and Corp Tax, but I'm just not in the position where I should be; i.e. in perfect control of my and my companies money!

[WordIsBond]

Maybe th OP needs to hire in a bookkeeper for a couple of hours a month. Give them receipts, invoices etc. Anyone ever done this?

Yeah. She also does payroll, billing, pays other expenses, reviews contracts, signs company accounts, etc. I even gave her half my shares and put her on the board of directors.

And that's just the services I pay for -- the others aren't company-related.

[Old Greg]

Maybe th OP needs to hire in a bookkeeper for a couple of hours a month. Give them receipts, invoices etc. Anyone ever done this?

[Fred Bloggs]

Married accountant stole £500,000 to splash out on luxury gifts for blonde model mistress and wife | Daily Mail Online



I presume he had direct access to their bank accounts ?? That is a big no no

If you look into how he did it I think in theory it could happen again, but at least many are now more aware of such scams. Even worse, I understand his clients had to pay the unpaid tax to HMRC, IIRC.

[dx4100]

Never heard of Darren Upton then? Google him.

http://www.dailymail.co.uk/news/arti...ress-wife.html



I presume he had direct access to their bank accounts ?? That is a big no no

[dingdong]

The crunch portal couldn't be more simple to use and you can immediately see when logging in what money in the company is available to you for salary/dividends versus what is being kept back for tax.

Anyone who struggles to understand how their company is doing using the Crunch portal really should be with a brolly!

[Fred Bloggs]

How could an accountant rip you off ? Other than in the fees they charge ?

Do you mean they could be doing a tulip job ?

I wouldn't for a second suggest you don't double checks the accounts and retains some basic understanding of what is going on. Just struggling to see how its all so difficult. Its basically just adding and subtracting and the understanding of how percentages work.

Never heard of Darren Upton then? Google him.

[dx4100]

You need to have a basic understanding otherwise you could end up with an accountant who rips you off.

How could an accountant rip you off ? Other than in the fees they charge ?

Do you mean they could be doing a tulip job ?

I wouldn't for a second suggest you don't double checks the accounts and retains some basic understanding of what is going on. Just struggling to see how its all so difficult. Its basically just adding and subtracting and the understanding of how percentages work.

[SueEllen]

Its hardly rocket science is it...

The accountant does all the hard work anyway. All you have to do is submit your receipts, invoices, bank statements etc and then make the payments your accountant tells you to make.

Your only real issue is how much money to take out of the company and how much tax or not your want to incur.

Come on, get a grip

I would recommend Nixon Williams.

You need to have a basic understanding otherwise you could end up with an accountant who rips you off.