Reply to: Running month to month in a nutshell

[offshore junkie]

^^^ are you on commission ?

I suppose if I pushed it I might get a tax return reduction but that might be it!

[chris79]

^^^ are you on commission ?

[offshore junkie]

Thanks. Can anyone recommend an accountant in South East London, City or Canary Wharf? Would be good if I could pop into offices. Again looking for a firm that doesn't specialise in contractors.

I saw a previous post recommending an accountant on here. I was needing to change my accountant because my old one was scared of his own shadow!

I gave the chap at EBN a call. Anyways and let me just say you need to at least speak to this guy! It won't cost you anything! He did say he went to London frequently on business.

EBN is the company ask for John and he does various business accountants and not just IT people. I am not in IT so I am sure he can help. They don't have a website and just hired (a month ago) an ex IR inspector of 20 years. The EBN team also uses every potential savings that they can.

Glad I made the call and the switch.

01722 411 614

[cojak]

Bravo that man

[chris79]

Right, thanks for all the input here!

I've talked today with an accountant who I am hooking up with on Friday. Since starting the business up earlier this month I have yet to receive any payments for invoices or run a payroll, so it seems this week is a good week to see one!

The accountant has told me that he can provide a complete service, or just a part service and advise me on what I need to do should I wish to do some work myself (which is my preference). On this basis I am going along with my laptop and showing him exactly how I have setup the company, and where I am with it, he will advise on the rest.

Result.

[Lewis]

Canary Wharf??

With those rates you're probably not looking for anyone in the £50 - £80pm bracket then...

Hmmmm ... didn't think about that. Ok, South East London then, ideally on some dodgy council estate in Peckham. But seriously ... if someone does know of a good account in south London I'd like to know.

[cojak]

Canary Wharf??

With those rates you're probably not looking for anyone in the £50 - £80pm bracket then...

[Lewis]

Quest Accounting Services

They're the guys I use and they're as Denny described.

Although they mention IT, they have many different kinds of small businesses as clients.

They do have a website, but as you can see haven't spent too much on it...

Thanks. Can anyone recommend an accountant in South East London, City or Canary Wharf? Would be good if I could pop into offices. Again looking for a firm that doesn't specialise in contractors.

[cojak]

Quest Accounting Services

They're the guys I use and they're as Denny described.

Although they mention IT, they have many different kinds of small businesses as clients.

They do have a website, but as you can see haven't spent too much on it...

[Lewis]

My ideal choice of accountant is someone who has a broad range of real business clients - for whom I am one - someone who knows their stuff inside out, including IR35 issues for 'owner managed companies' and gives a full tax planning service across the board, but is not a firm geared specifically to the IT contractor sector (because I am not an IT person anyway) and will not discourage low salary and high divis if they can see that there are bona fide reasons for doing this without pushing the 'too good to be true' tax avoidance pay yourself '2p a year' for three years or pull in over 80 per cent of your income hype (whether true or legal or not) to attract and keep new business. Any accountant I take on is unlikely to have a flashy website either, if one at all.

Denny, please let me know when you find this firm as it's exactly what I want too.

[Lewis]

I've never looked into MSC's...but the thought that people should be scared of using an accountant is absurd...I know builders, pub landlords, financial advisors and garage owners...all of them genuine companies...and all of them rely heavily on their accountant.

Could anyone on here with an in-depth knowledge of both accountancy, MSC's and tax regs explain the key differences between MSC's and Accountants so that maybe some of the fear for people on this board can be eradicated.

I'm all for people doing their own accounts if they are capable and have a desire and aptitude for such things...but if it is out of a fear that is not valid and could end up with them getting in a mess then thats not so good.

What some people are concerned about is the fact that the new MSC legislation will apply if your limited company has any dealings with a company that is considered by HMRC to be "promoting and facilitating" personal service companies, whether they are accountants or not. It sounds ridiculous and is ridiculous if accountants are caught purely for providing accountancy services but at this early stage it seems opinion is divided. There are a few recent threads that have discussed this point at some length.

[chicane]

I'd never try doing the accounts myself, because:

a) The accountant specialises in doing accounts, and can work on this task much more quickly, accurately and efficiently that I can. The time saved is time that I can spend making money using my specialist skill.
b) The accountant can use his/her knowledge and experience to look at various ways to work with legislation whilst compiling the accounts, potentially saving hundreds or even thousands of pounds compared to a "vanilla" approach gained by following the book to the letter.

In essence, I'd much prefer my accounts to be done by somebody who is concentrated on doing it in the best way for my business (accountant), rather than struggling to do it at all (me).

[MarillionFan]

I'd be suprised if my accountant knew enough about accounting to offer promtiong and facilitating advice


j/k

[Sockpuppet]

I'd be suprised if my accountant knew enough about accounting to offer promtiong and facilitating advice


j/k

[Sockpuppet]

I know builders, pub landlords, financial advisors and garage owners...all of them genuine companies...and all of them rely heavily on their accountant.

All of them with more complex businesses than an contractor who recieves maybe a min of 12 invoices a year and if on the FRS VAT scheme not keeping any reciepts.

Could anyone on here with an in-depth knowledge of both accountancy, MSC's and tax regs explain the key differences between MSC's and Accountants so that maybe some of the fear for people on this board can be eradicated.

MSCs were for lazy people who wanted to sit in the same cushy dev job at an investment bank for 5 years pretending that they were somehow taking a risk and providing the economy with a flexible talented workforce therefore somehow entitled to the tax relief business owners get.