Anyone use an accountant for ad hoc advice only?

[Chart Accountancy]

So I trained as a Chartered Accountant, qualifying in 2012 before going into the analytical/advisory role I'm now in. I am comfortable with all the "normal" elements of my accounts, record keeping, VAT return, payroll submissions, P&L, divi calcs etc.

However, I'm getting towards my first year end, and just have a number of questions I want to bounce off a specialist (in my accountancy role I worked with large companies rather than individuals operating as Ltd Cos). I may need help with Corporation Tax return, but my main issue is that I'm pregnant and want to check the ins and outs of eligibility forSMP/KIT days, Shared Parental Leave etc.

Quite a specific question, but essentially, can anyone please recommend an accountant that does ad hoc advisory only and not for a fortune, I'm not earning as much as anticipated as I've not been able to take on as much work given I'll have a(nother) baby to contend with shortly and can't commit to a huge workload

I agree with Maslins comment above and you may find it hard to engage with an accountant to just answer some questions. If you are confident to complete your end of year accounts and not looking to engage an accountant, you can check to see if you meet the SMP criteria online alongside the required application to claim to HMRC. If you have any specific questions, you may find it possible if you phone a local accountant, they may be willing to give you some free advice/information over the phone, or if you ask here on forum you may receive good answers too.

[Andrew@Wisteria]

Exactly, honestly what's the problem ok I may have been a little naive I did start out meaning to get everything formalised, and then time passes (and the unexpected news of baby number two took my eyes off the ball), I do need to check everything out before my year end. I was vaguely hoping as I'm earning so little no one would notice me anyway... wishful thinker

Not something we do directly but happy to pass details of someone who does.

Feel free to PM me.

[Andrew@Wisteria]

Ah it must be fine then.

I’ve missed this!

[Becca]

Ah it must be fine then.

Exactly, honestly what's the problem ok I may have been a little naive I did start out meaning to get everything formalised, and then time passes (and the unexpected news of baby number two took my eyes off the ball), I do need to check everything out before my year end. I was vaguely hoping as I'm earning so little no one would notice me anyway... wishful thinker

[northernladuk]

Ah don't panic me now! I discussed the contract informally with some former colleagues and they said it sounded ok. How much would I be looking to pay for a formal review? The company I contract with have other contractors working for them and have had no issues arising in the past, in addition there's no restriction on me taking on other contracts at the same time etc, but I do want to tick all the boxes without costing myself too much. I don't work many hours a week as I work when I can around childcare (income year to date 21k), so I'm not exactly rolling in it!

Ah it must be fine then.

[Becca]

Hi Becca,

Based purely on the above I’m slightly concerned about your IR35 status. Have you had a contract review to ensure you are outside and therefore dividends is a valid tax planning mechanism?

Re SMP if you on the payroll at the qualifying date then you should be eligible.

In certain circumstances it’s beneficial to pay a bonus in the qualifying period too.

Andrew

Ah don't panic me now! I discussed the contract informally with some former colleagues and they said it sounded ok. How much would I be looking to pay for a formal review? The company I contract with have other contractors working for them and have had no issues arising in the past, in addition there's no restriction on me taking on other contracts at the same time etc, but I do want to tick all the boxes without costing myself too much. I don't work many hours a week as I work when I can around childcare (income year to date 21k), so I'm not exactly rolling in it!

[Andrew@Wisteria]

So I trained as a Chartered Accountant, qualifying in 2012 before going into the analytical/advisory role I'm now in. I am comfortable with all the "normal" elements of my accounts, record keeping, VAT return, payroll submissions, P&L, divi calcs etc.

However, I'm getting towards my first year end, and just have a number of questions I want to bounce off a specialist (in my accountancy role I worked with large companies rather than individuals operating as Ltd Cos). I may need help with Corporation Tax return, but my main issue is that I'm pregnant and want to check the ins and outs of eligibility forSMP/KIT days, Shared Parental Leave etc.

Hi Becca,

Based purely on the above I’m slightly concerned about your IR35 status. Have you had a contract review to ensure you are outside and therefore dividends is a valid tax planning mechanism?

Re SMP if you on the payroll at the qualifying date then you should be eligible.

In certain circumstances it’s beneficial to pay a bonus in the qualifying period too.

Andrew

[Becca]

I'm sure plenty of accountancy firms will accommodate what you're looking for, but there's a risk you may not save much. Reasons being:
- they'll still have plenty of admin to do with taking you on as a client,
- even when you have what you feel is a very quick question, often they'll need to understand a lot of the background before they can advise.
- the possible knock on impact on other things, and the grey area of whether they're purely answering your question, or also giving follow on advice,
- or worse, in finding out info re your specific question, they realise you did something daft months earlier that may cause problems,
- if something doesn't get done, and you didn't specifically ask them to do it, will you still deem it their fault as you considered they were "your accountant"?
- given you'll presumably be doing all of "the easy stuff", when you do have a query it's likely to be a bit tricky, meaning it may need a senior member of staff to assist.
- they'll be spending a fair part of their time quoting, keeping tabs on what's been done, and invoicing.

For the above reasons many firms don't offer ad hoc, it's not commercially viable...and if they do, the rates may ending up seeming high compared to what's become the traditional contractor model of a monthly package.

Yeah, this is my concern. I know what my charge out rate used to be, and I never even made it to manager level before escaping the world of accountancy! Grr. I resent paying for the bits I can do, but equally, I do want to do things by the book. Grumble!

[Maslins]

I'm sure plenty of accountancy firms will accommodate what you're looking for, but there's a risk you may not save much. Reasons being:
- they'll still have plenty of admin to do with taking you on as a client,
- even when you have what you feel is a very quick question, often they'll need to understand a lot of the background before they can advise.
- the possible knock on impact on other things, and the grey area of whether they're purely answering your question, or also giving follow on advice,
- or worse, in finding out info re your specific question, they realise you did something daft months earlier that may cause problems,
- if something doesn't get done, and you didn't specifically ask them to do it, will you still deem it their fault as you considered they were "your accountant"?
- given you'll presumably be doing all of "the easy stuff", when you do have a query it's likely to be a bit tricky, meaning it may need a senior member of staff to assist.
- they'll be spending a fair part of their time quoting, keeping tabs on what's been done, and invoicing.

For the above reasons many firms don't offer ad hoc, it's not commercially viable...and if they do, the rates may ending up seeming high compared to what's become the traditional contractor model of a monthly package.

[Becca]

The advice you get will be worth every penny you pay for it though......

Very true I have had a good look around for information, I'm happy to pay someone to "mark my homework" as it were. I've read up as much as possible, on HMRC site etc and other contractor guides, and I'm 99% sure I know what I'm doing, but I certainly don't want to do anything to jeopardise my status as a Chartered Accountant in case I decide to go back down that route (or damage my general financial/rulebreaking position)! Unfortunately my previous network are all very large company focused

[northernladuk]

I can’t recommend an ad hoc accountant but you may find some SMP questions answered on these forums. Use google to search by sticking site:contractoruk.com in the main google search bar.

The advice you get will be worth every penny you pay for it though......

[Lance]

Anyone use an accountant for ad hoc advice only?

I can’t recommend an ad hoc accountant but you may find some SMP questions answered on these forums. Use google to search by sticking site:contractoruk.com in the main google search bar.

[Becca]

So I trained as a Chartered Accountant, qualifying in 2012 before going into the analytical/advisory role I'm now in. I am comfortable with all the "normal" elements of my accounts, record keeping, VAT return, payroll submissions, P&L, divi calcs etc.

However, I'm getting towards my first year end, and just have a number of questions I want to bounce off a specialist (in my accountancy role I worked with large companies rather than individuals operating as Ltd Cos). I may need help with Corporation Tax return, but my main issue is that I'm pregnant and want to check the ins and outs of eligibility forSMP/KIT days, Shared Parental Leave etc.

Quite a specific question, but essentially, can anyone please recommend an accountant that does ad hoc advisory only and not for a fortune, I'm not earning as much as anticipated as I've not been able to take on as much work given I'll have a(nother) baby to contend with shortly and can't commit to a huge workload