Accountancy that does everything online?

[backagain]

I am still doing research, but while doing this I am getting a company formed and hopefully a bank account setup so I can get the ball rolling with the agency and changeover from my brolley. Its taking time getting queries answered from potential accountants, so I figure register a Ltd Co myself, get the certificate, etc. Also most of the accountants that setup a co for free will charge you 100 quid plus if you leave within 12 months, so I figure its worth paying for the Ltd Co just in case things dont work out with the accountant.

Some things cross my mind with having an acct do everything online; you may loose control over the book keeping and may be more restricted in what you can expense. Also you are trusting someone else to maintain the records; ok I know you can sue them if they are incompetent, but this wont be easy and it will be your problem if you have no accounting records. So maybe its better to maintain your own records in the form of a spreadsheet. A good compromise would be if you can download the data from time to time.

[backagain]

Thanks minstrel for replying. I have also been pointed at www.cheapaccounting.co.uk, which I am am investigating (this provides the one stop solution you were hinting at).

[minstrel]

FreeAgent Central

backagain - take a look at FreeAgent Central

They're still beta testing their software and looking for accounting partners to hook up with, but I think it's the sort of solution you are looking for.

Obviously, can't recommend them as they haven't started yet (planning on launching in September). But I had a look at the web site and had the sort of functionality I was looking for. If they can hook up with a decent accountant and price the package right they might be worth considering.

There was also a discussion on this forum here

[TheFaQQer]

So much negativity. Doing it online is in effect your accountant doing your accounts. Its a bit like hiring a bricklayer or doing it yourself. Chances are the bricky is expert in what he does and will lay bricks faster and better than you could ever do. Maybe sometimes folks can be a little more open minded to new ideas?

Even though I consider myself good with money and Excel, I dont believe I ever did it as well as an accountant would.

Not sure that what you are getting here is negativity, rather a realistic view of the current state of affairs.

A "company that does everything" for you sounds like an MSC to me. From August this year, the tax rules change which means that you will need to be taxed as PAYE and NI, if you are using an MSC. Nothing to stop you doing it, but there is no advantage to it, and considerable extra cost.

I may be wrong (it has happened before!) - best of luck finding what you are looking for.

[backagain]

So much negativity. Doing it online is in effect your accountant doing your accounts. Its a bit like hiring a bricklayer or doing it yourself. Chances are the bricky is expert in what he does and will lay bricks faster and better than you could ever do. Maybe sometimes folks can be a little more open minded to new ideas?

Even though I consider myself good with money and Excel, I dont believe I ever did it as well as an accountant would.

[TheFaQQer]

Timesheet entry

Why would an accountant require a timesheet?

Sounds like you really want an umbrella rather than a limited company.

[Bluebird]

I have been out of the UK for 3 years and am now back and want to form a new company for contracting. The biggest headache last time round was a lousy accountant who could not meet any deadlines or do anything on time, and because everything was manual, it cost alot (especially when they got things wrong or missed a deadline).

This time round I want to find an accountancy where I can do everything online. Timesheet entry, expenses, manage events (Companies House, VAT, IR). In this modern day and age this should be possible and should save all the headaches I had last time round, not to mention be more efficient and thus save cost. Its a little like a PAYE system like Parasol, where u do everything online.

Can anyone recommend one, which is value for money too (preferably fixed cost)?

Just because an accountancy has email and a website does not mean its an online service, thus I dont want to hear about these ones!!!

Many thanks in advance.

I may be wrong but, somebody who offers to everythung for you is an MSC, and therefore you get to pay full whack PAYE.

If you do some of the spadework yourslef, you can claim to be a ligitimate business, and therefore can pay dividends, expenses etc without paying full PAYE.

In other words if you want to maximise your income, you have to but a bit of effort in.

[Epiphone]

Dunno if you'll find an entirely online one but Upton, SJD and Nixon Williams are the usual suspects on here.

I now open the floor for then to tout their wares ...

[backagain]

I have been out of the UK for 3 years and am now back and want to form a new company for contracting. The biggest headache last time round was a lousy accountant who could not meet any deadlines or do anything on time, and because everything was manual, it cost alot (especially when they got things wrong or missed a deadline).

This time round I want to find an accountancy where I can do everything online. Timesheet entry, expenses, manage events (Companies House, VAT, IR). In this modern day and age this should be possible and should save all the headaches I had last time round, not to mention be more efficient and thus save cost. Its a little like a PAYE system like Parasol, where u do everything online.

Can anyone recommend one, which is value for money too (preferably fixed cost)?

Just because an accountancy has email and a website does not mean its an online service, thus I dont want to hear about these ones!!!

Many thanks in advance.