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Previously on "Do I need an Accountant if I go for FreeAgent?"
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I have done DIY, the full company cycle from setup, annual returns, self asessment, to company closure and strike off. So, it can be done. Especially if you're extremely well organised and well informed. The fact that you have asked tells me you aren't ready to go DIY. If you were, you wouldn't have to ask. Fact is, it's never been easier to go fully DIY. But I think it isn't for most people.
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Originally posted by northernladuk View PostIMO, because you have to ask then the answer is YES. If you knew enough about tax and were confident enough you'd not have to ask.
Freeagent is a bookkeeping tool, nothing more. It does know anything about tax legislation changes, expenses rules, change in tax brackets, your company tax timings. It's quality is based on your your ability to input the numbers right as well. Did you know postage stamps are VAT exempt so can select the right option on your expenses? You don't need someone to review it. You are 100% sure your VAT is correct and everything has been checked, particularly bearing in mind any changes etc?
Only a very small number of people on here go FA only and even they have to come on and ask some questions as well... so, again IMO, your question doesn't show any evidence of understanding basic accounting let alone advanced stuff so I'd say YES.
Get an accountant and FA, stick to them like glue. Learn everything you can and then go alone if you want but it's not for me. More than happy to pay a professional to make sure it's right. Remember the old addage, a good accountant is cheap. A bad accountant (or none) can be very expensive. In both those I don't mean the costs of their fees.. it's the cost of getting it wrong which can far outweigh the fees.
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IMO, because you have to ask then the answer is YES. If you knew enough about tax and were confident enough you'd not have to ask.
Freeagent is a bookkeeping tool, nothing more. It does know anything about tax legislation changes, expenses rules, change in tax brackets, your company tax timings. It's quality is based on your your ability to input the numbers right as well. Did you know postage stamps are VAT exempt so can select the right option on your expenses? You don't need someone to review it. You are 100% sure your VAT is correct and everything has been checked, particularly bearing in mind any changes etc?
Only a very small number of people on here go FA only and even they have to come on and ask some questions as well... so, again IMO, your question doesn't show any evidence of understanding basic accounting let alone advanced stuff so I'd say YES.
Get an accountant and FA, stick to them like glue. Learn everything you can and then go alone if you want but it's not for me. More than happy to pay a professional to make sure it's right. Remember the old addage, a good accountant is cheap. A bad accountant (or none) can be very expensive. In both those I don't mean the costs of their fees.. it's the cost of getting it wrong which can far outweigh the fees.
Leave a comment:
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Do I need an Accountant if I go for FreeAgent?
I have been with an Accountant for over a decade, paying a minimum of £1300+ yearly. They are increasing their fee shortly in couple months. Given I don't have a complex setup (pretty much standard) and not much revenue since Covid, I am thinking of moving to FreeAgent. I need payroll for 2, SA for 2 etc.
Just wondering do I need an Accountant when I move to FA? Are there any scenarios that requires an Accountant?Tags: None
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