Brooksons Vs Others

[exbrm]

Check this thread out ......

http://www.shout99.com/contractors/s...le.pl?id=46506

[Alan @ BroomeAffinity]

Sorry, should maybe have said reflecting wages/divi split.

Generally, the client will decide on salary and dividend (frequency and amount) with guidance and advice from me and this will be reflected in their monthly summary.

[Bluebird]

What a contractor should expect from his accountant is this:

• Unlimited advice on tax, business and contract issues (and I mean unlimited);
• Basic book-keeping;
• A monthly summary showing wages/divi split plus all provisions needed;
• VAT return completion;
• All year end work;

That's what my customers get for £80 per month.

I'd agree with you there except for the "A monthly summary showing wages/divi split" - if the accountant is deciding the wages Divi split, then to my mind that is having an influence in "running" the business and your contractors could fall under the MSC ruling - I may be wrong but I'd like your views on that.

[exbrm]

HMRC compliance?

I would ask them if they have HMRC compliance for their business model yet.

This was flying around last month:

Latest statement from HMRC regarding the new MSC regulations taken from their website:
http://www.hmrc.gov.uk/employment-st...egislation.htm


MSC's - Monitoring the effects of the legislation.
"As part of HMRC’s monitoring the effects of Chapter 9 ITEPA, letters will be issued shortly to those known Service Providers whom HMRC believes to be MSC Providers. The letters will asks Service Providers for limited information on the business models provided to clients and the numbers of clients within each business model.

Provision of the information is purely voluntary but as many Service Providers advertise their business models, HMRC anticipates a good response."

Will these companies tell their clients:

a) They have received such letter?
b) Whether they reply or ignore?
c) What they will say in a reply?

[Alan @ BroomeAffinity]

What a contractor should expect from his accountant is this:

• Unlimited advice on tax, business and contract issues (and I mean unlimited);
• Basic book-keeping;
• A monthly summary showing wages/divi split plus all provisions needed;
• VAT return completion;
• All year end work;

That's what my customers get for £80 per month.

[Waldorf]

I find most people do not know what is involved, £98 is very high, not sure what they do but many seem to make you do the work and they just review each quarter, so based on that £98 or similar is hugely expensive.

[David Parker ACMA]

I'm an accountant who has over 5 years specialising in contractor accounts. I used to hold a senior finance position with one of the big MSC players before the legislation kicked in. I have continued in this market through my own accountancy practice.

If you would like to talk with me to see what we have to offer, please contact me or log on to www.purplecontractor.com YES, its the ad at the top of the page!!

[Alan @ BroomeAffinity]

I'm an accountant myself so I'll try and keep this unbiased:

I've taken on about 20 contractors from Brookson and about 40 from Filetravel since the MSC changes kicked in. IMO, Brookson have had terrible problems re-inventing themselves from an MSC provider to what is basically an accounting firm. The service by all accounts is hopeless so the £98 a month fee has to be high.

You should never select an accountant based on fee anyway. If you did, you get seriously sh*t service and dodgy advice. If you're not happy with Brookson consider the big guys like SJD or NW but also have a think about the local mobs in your area. I would probably stick to a specialist though. PM me if you like and I'll talk you through what I offer.

[SlickFrog]

Is it me or does Brooksons charge alot more than other competing accountancy firms? i.e. approx £98 + VAT

I know the other guys, SJD, Quay etc are lot cheaper and just as credible!!

Thinking of finding a cheaper option to max me income, do you you think i'm rally losing out in not staying with them?

Slickfrog