Reply to: sjd accountancy

[MikeP]

The main review is done once we've completed the year end accounts. We also review initially just to make sure you are doing things correctly, but we find that most times clients are pretty well educated, and tend on the whole to know what they can claim for etc.

When do you complete them? My year end was nearly two months ago and I haven't heard a thing (just as well because I'm still sorting out my expenses ).
That said though, I think the reason your clients are pretty well educated is surely related to the superb info on your website & intro pack

On a more general note, my experience with SJD has been positive overall but not without it's bumps. Too many oopses to be a true "file and forget" proactive type of service that I'd like (and would even be prepared to pay a little more for), I still have to check everything they do.

The good points outshine any minor niggles though:
- Excellent service, you always get a prompt and useful response
- listen and act upon complaints, feedback & suggestions, none of that black-hole stuff you tend to find too often these days
- they do look after their clients, from sms messages to various updates and the occasional 'special' extras
- Competent, and as far as I'm aware everything's squeaky clean as far as my books and the taxman are concerned (i.e. no gray/dodgy schemes)
- Value for money

All in all I still rate them as excellent and recommend them to everyone.

[simondolan]

I've been using SJD and I'm happy with them. They're prompt at doing stuff when you ask, and they do get things right. They are nice people too. But I'd agree they're not very proactive. I was doing my own accounts before handing them over, and so I'd have expected them to suggest ways to restructure the finances, but there's been none of that. Having said that, I haven't been with them long enough to have the year end accounts done, so maybe things pick up after that.

Hi,

The main review is done once we've completed the year end accounts. We also review initially just to make sure you are doing things correctly, but we find that most times clients are pretty well educated, and tend on the whole to know what they can claim for etc.

[thunderlizard]

I've been using SJD and I'm happy with them. They're prompt at doing stuff when you ask, and they do get things right. They are nice people too. But I'd agree they're not very proactive. I was doing my own accounts before handing them over, and so I'd have expected them to suggest ways to restructure the finances, but there's been none of that. Having said that, I haven't been with them long enough to have the year end accounts done, so maybe things pick up after that.

[philip@wellwoodhoyle]

I wouldn't let the size of the basic fee mislead you. I would think that most contractor specialist accountants make the majority of their profit via add on services eg commission from financial services work, IR35 opinions.

With a typical pension the commission taken is at least 1% up-front with a trail commission of 0.5% pa for as long as the pension fund is invested.

If you have a checklist of criteria, its not too hard to determine if someone is IR35 or not and therefore not too costly.

Sorry to disagree. Just 2% of our income comes from the add-ons, commissions, etc. Like the others, we refer clients to who we feel is the best, rather than who would give us commissions, and we always rebate 50% of the commissions back to the client, the other commissions being set against time costs, so we bill less, so in effect, we earn nothing at all - if we didn't get the commissions, we'd bill the client more. So really, the client gets the full value of his commissions. Perhaps that's why I don't have a flash car! I wondered what I was doing wrong!

[Darren@UptonAccountants]

I wouldn't let the size of the basic fee mislead you. I would think that most contractor specialist accountants make the majority of their profit via add on services eg commission from financial services work, IR35 opinions.

With a typical pension the commission taken is at least 1% up-front with a trail commission of 0.5% pa for as long as the pension fund is invested.

If you have a checklist of criteria, its not too hard to determine if someone is IR35 or not and therefore not too costly.

Afraid not Bradley, we don't take commissions from IFA's or other sources, they're referred on merit alone.

[simondolan]

I wouldn't let the size of the basic fee mislead you. I would think that most contractor specialist accountants make the majority of their profit via add on services eg commission from financial services work, IR35 opinions.

I can't speak for other firms, but we make less than 5% of our profits from add ons.

[Bradley]

Fees

I think the point is that no matter how good anyone is, for 75/125 a month you aren't going to get a personal service, you can come close but real tax planning and mitigation takes a lot of time and effort.

I agree the bespoke solution is good, and for a basic known fee its excellent in fact, but it is still mass-market. For anyone with more detailed affairs they will still need much more advice before proceeding.

I wouldn't let the size of the basic fee mislead you. I would think that most contractor specialist accountants make the majority of their profit via add on services eg commission from financial services work, IR35 opinions.

With a typical pension the commission taken is at least 1% up-front with a trail commission of 0.5% pa for as long as the pension fund is invested.

If you have a checklist of criteria, its not too hard to determine if someone is IR35 or not and therefore not too costly.

[boredsenseless]

Thanks for coming back on this Meridian. To take this particular point, Matthew was putting forward an initiative which we thought would make the lives of our clients easier. Having just looked at the email it wasn't worded too well and does give the impression that things would remain the same if you didn't respond.

Knuckles wrapped on this one, and thanks again for the feedback.

I think the point is that no matter how good anyone is, for 75/125 a month you aren't going to get a personal service, you can come close but real tax planning and mitigation takes a lot of time and effort.

I agree the bespoke solution is good, and for a basic known fee its excellent in fact, but it is still mass-market. For anyone with more detailed affairs they will still need much more advice before proceeding.

None of this is meant to be a slight against sjd / 1st accounting etc, you seem to provide an excellent service that fits the majority very well. What I am trying to say is that too many contractors winge that they aren't getting personal service and cutting edge tax offsetting advice whilst at the same time expecting to pay 20 quid a month for the service 'cos it's just adding numbers isn't it!'

Hope you continue providing a good service to the majority, keep it up!

[simondolan]

As an example, Matthew recently sent out a blanket e-mail suggesting that company payroll could be done via standing order with the Revenue. We didn't reply to this, assuming that our current instructions would stand, but inexplicably we didn't receive any further payroll for 2006/07. When questioned on this, our contact apologised but advised that "I do not run the actual payroll". That's fine, I can understand that and can chase up the payroll myself, but then what's the point of having a point-of-contact if they're not there to keep an eye on things and ensure that all non-replyers continued with their existing arrangements?

Thanks for coming back on this Meridian. To take this particular point, Matthew was putting forward an initiative which we thought would make the lives of our clients easier. Having just looked at the email it wasn't worded too well and does give the impression that things would remain the same if you didn't respond.

Knuckles wrapped on this one, and thanks again for the feedback.

[Spartacus]

MD: We need to listen to our clients and give them what they want.

Client: What I want is better products for free.

MD: Oh.



[with thanks to an ancient Dilbert strip]

[meridian]

Hi Guys,

Interesting comments there.

From what I can gather then we are doing everything that you need and the service is good, but you feel that a personal touch is missing sometimes?

I'd be really pleased to hear what you think we could do to address this, either mail me privately or posts here would be fine.

In terms of tax mitigation strategies, have a look at the following link which describes the sort of tax mitigation plans we offer to clients.

There isn't any other firm, high street or otherwise (that I am aware of), that provides this level of planning, for whatever the fee.

Hi Simon,

Personally, "personal touch" to me would mean getting the impression (rightly or wrongly!) that my point-of-contact was doing everything he/she could to smooth the bumps, as it were, and make sure the basic level of service my company receives is as important to him/her as it is to me.

As an example, Matthew recently sent out a blanket e-mail suggesting that company payroll could be done via standing order with the Revenue. We didn't reply to this, assuming that our current instructions would stand, but inexplicably we didn't receive any further payroll for 2006/07. When questioned on this, our contact apologised but advised that "I do not run the actual payroll". That's fine, I can understand that and can chase up the payroll myself, but then what's the point of having a point-of-contact if they're not there to keep an eye on things and ensure that all non-replyers continued with their existing arrangements?

To a small company like ours on a basic level of service, having the little things done well means the difference between making a solid recommendation or simply saying "all accountants are the same".

Hope this helps....

[simondolan]

Hi Guys,

Interesting comments there.

From what I can gather then we are doing everything that you need and the service is good, but you feel that a personal touch is missing sometimes?

I'd be really pleased to hear what you think we could do to address this, either mail me privately or posts here would be fine.

In terms of tax mitigation strategies, have a look at the following link which describes the sort of tax mitigation plans we offer to clients.
There isn't any other firm, high street or otherwise (that I am aware of), that provides this level of planning, for whatever the fee.

[Spartacus]

Quite. No accountant's going to be a hard working hero actively managing your accounts and suggesting all sorts of tax mitigation strategies for £50 - £75 / month

[ratewhore]

I'm with Vectraman on this. The contractors accountants are fine as far as it goes but it's a bog-standard service. I'm moving to a local accountant for the personal touch you don't get with companies of this nature.

That's not saying it's a bad service of course...

[simondolan]

I've only ever dealt with the head office, and to be honest I thought they other offices were just "virtual" offices they used. Not that it really matters as I stay in touch with email and post, so they could be anywhere.

I think they're good at looking after everything for you, and they make it very easy, but I sometimes feel like it's a bit of a conveyer belt approach rather than a personal service, and perhaps a small local accountant might be better (if you could find a good one), especially if you're a bit anal like me and want to know everything that's going on. I won't go into detail but I've been a bit unhappy with them recently because of a problem resulting from that.

Please do drop me a mail and let me know how we could improve things for you.