[SEEKING RECOMMENDATIONS] "All-inclusive" accountant

[chrisaw]

Thanks for the solid advice all. I'll reflect on this and do more research.

Thanks for convincing me against shooting myself in the foot.

This non-stop assault on contractors sure is hard to keep up with!

[northernladuk]

Yeah I have been making decisions. Not via board minutes so will have to start. I keep all emails that show I approve any submissions for CT and PAYEE etc

I spoke to Gorilla about this at the contracting awards and they are absolutely adamant it's not going to affect them for the reasons you mention above. They explained much of what they do and the decision does sit with us. They'll advise but we confirm which helps with the separation. Obviously every company that's been caught out was adamant they wouldn't before it hit but I was as happy as I could be with their situation. From what I've seen the same level of service and separation exists at most of the recommended suppliers and those that post here. Mustn't play down the risk but the correct diligence from contractor and accountant can certainly reduce it to a point we can just get on and work.

[xenomorph]

Probably not. No one can say for sure because HMRC are chancing their arm now and, if they win against CK and/or Boox, they will chance it further. The only way to be completely safe is to do the accounts yourself, but unless you know what you're doing, that is quite a risky proposition for other reasons (and probably a bigger risk than the MSC risk, TBH). If I were you, I wouldn't worry, but I would also collect/retain evidence of you running the company yourself and making decisions via board minutes etc.

Yeah I have been making decisions. Not via board minutes so will have to start. I keep all emails that show I approve any submissions for CT and PAYEE etc

[jamesbrown]

So currently use gorilla accounting for my company accounts. They do all accounting via freeagent but not provide any insurance or reviews. Would this now still be issue with MSC?

Probably not. No one can say for sure because HMRC are chancing their arm now and, if they win against CK and/or Boox, they will chance it further. The only way to be completely safe is to do the accounts yourself, but unless you know what you're doing, that is quite a risky proposition for other reasons (and probably a bigger risk than the MSC risk, TBH). If I were you, I wouldn't worry, but I would also collect/retain evidence of you running the company yourself and making decisions via board minutes etc.

[xenomorph]

So currently use gorilla accounting for my company accounts. They do all accounting via freeagent but not provide any insurance or reviews. Would this now still be issue with MSC?

[Fred Bloggs]

which is why we suggest Freeagent because it makes doing that stuff stupidly simple...

Absolutely, and if you are open to switching banks to NatWest/Mettle it comes with the bank account at no extra charge. That's a deal too good to overlook for many people. IMO of course.

[eek]

+3. Anyone asking for an "all inclusive" accountancy package is asking to get shot in the face with HMRC's renewed focus on MSCs.

I would look for an accountant to prepare your end of year returns on an ad-hoc basis. Most accountants charge an annual fee that is conveniently billed as 12 one-month payments. What you want, at most, is a fixed price deal for preparing your CT600, SATR and other annual returns at the relevant time of year. You should be managing payroll, VAT and other daily/monthly/quarterly etc. stuff yourself.

which is why we suggest Freeagent because it makes doing that stuff stupidly simple...

[jamesbrown]

+2

If you are running a business you need to demonstrate that you are running a business and not being spoonfed by a Managed Service Company Provider.

Which means

1) get a FreeAgent account and use it
2) find a firm happy to use FreeAgent and willing to accept an annual fee rather than monthly payments

And for everything else look at what QDOS offer - as they don't offer accountancy they aren't caught by the MSC legislation and their contract reviews / insurance is more than good enough.

+3. Anyone asking for an "all inclusive" accountancy package is asking to get shot in the face with HMRC's renewed focus on MSCs.

I would look for an accountant to prepare your end of year returns on an ad-hoc basis. Most accountants charge an annual fee that is conveniently billed as 12 one-month payments. What you want, at most, is a fixed price deal for preparing your CT600, SATR and other annual returns at the relevant time of year. You should be managing payroll, VAT and other daily/monthly/quarterly etc. stuff yourself.

[northernladuk]

- Standard accountancy (of course)
- Included IR35 contract reviews
- An IPSE package incl. IR35 insurance
- Contractor insurance (usual stuff for public sector)

An accountant does accounts. Why would you take insurances and memberships and reviews though them? Go find the specialists and get your own.

Tough job this contracting isn't it.

[eek]

I wouldn't - at least not until you have caught up with the discussions on the challenges to MSC and MSCP provisions...

+2

If you are running a business you need to demonstrate that you are running a business and not being spoonfed by a Managed Service Company Provider.

Which means

1) get a FreeAgent account and use it
2) find a firm happy to use FreeAgent and willing to accept an annual fee rather than monthly payments

And for everything else look at what QDOS offer - as they don't offer accountancy they aren't caught by the MSC legislation and their contract reviews / insurance is more than good enough.

[Fred Bloggs]

I wouldn't - at least not until you have caught up with the discussions on the challenges to MSC and MSCP provisions...

OP, that's good advice. Be very careful what you sign up for. To mitigate tax risk in today's environment you would be well advised to do as much of the company house keeping as you can yourself. Read up on the recent MSC threads.

[malvolio]

I wouldn't - at least not until you have caught up with the discussions on the challenges to MSC and MSCP provisions...

[Lance]

Look no further than....

Accountant recommendation threads inc local requests - Contractor UK Bulletin Board

[chrisaw]

Hello all!

First post here and I'm already asking for advice - tut tut!

I was one of the unfortunate fools who signed up to SJD and they very quickly managed to get me a fine from HMRC for not doing their job so obviously I left them swiftly!

What I'd like, however, is to find a reputable (as in, actually do their job) accountancy with a similar package incl:

- Standard accountancy (of course)
- Included IR35 contract reviews
- An IPSE package incl. IR35 insurance
- Contractor insurance (usual stuff for public sector)

I do realise I could get these things separately (and I have) but the all-inclusive nature of this package was very appealing.

Any advice on this would be greatly welcomed and appreciated!