Originally posted by Clare@InTouch
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Reply to: When to get an accountant?
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Previously on "When to get an accountant?"
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Originally posted by Clare@InTouch View PostOi! I'll have you know I also drink coffee, eat biscuits and answer the odd email inbetween.
Besides, you have no higher ground when it comes to being on CUK all day
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Originally posted by northernladuk View PostPost on internet forums all day
Besides, you have no higher ground when it comes to being on CUK all day
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Originally posted by Clare@InTouch View PostIt's the advice that's the important bit. A bit of software can put things in the right boxes, but it can't tell you if it's allowable to put those things in those boxes. Or look at your accounts and advise on things you may have missed, or things you should consider. Or review your overall tax position to ensure you're as tax efficient as possible. Or answer letters from HMRC on your behalf.
Clare
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Originally posted by PEEL View PostHi Claire, besides giving advice and doing the personal tax return, what do accountants do when the end client is using something like Clearbooks? I get the impression that Clearbooks basically creates the end of year accounts based on the information that I enter, along with VAT stuff. I am currently feeling that with something like Clearbooks and some simple PAYE software I could almost go-it alone (or get a cheaper accountant). Not quite there yet though, need to do some more research first.
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Originally posted by PEEL View PostHi Claire, besides giving advice and doing the personal tax return, what do accountants do when the end client is using something like Clearbooks? I get the impression that Clearbooks basically creates the end of year accounts based on the information that I enter, along with VAT stuff. I am currently feeling that with something like Clearbooks and some simple PAYE software I could almost go-it alone (or get a cheaper accountant). Not quite there yet though, need to do some more research first.
Clare
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Originally posted by PEEL View PostHi Claire, besides giving advice and doing the personal tax return, what do accountants do when the end client is using something like Clearbooks? I get the impression that Clearbooks basically creates the end of year accounts based on the information that I enter, along with VAT stuff. I am currently feeling that with something like Clearbooks and some simple PAYE software I could almost go-it alone (or get a cheaper accountant). Not quite there yet though, need to do some more research first.
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Originally posted by Clare@InTouch View Postsomething
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Originally posted by jmo21 View PostIt's amazing how many people don't realise this.
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Some advice is useful early on, and by delaying you may delay the point at which you can act on it and therefore lose out. We sometimes get that with new clients when we find that their accountant, if they had one, didn't mention something that could have saved a few hundred/thousand in tax but it's now too late to do anything about it. The right mix of salary/dividends for example, especially now that RTI is around and you can't simply backdate a salary. Or FRS. Or shareholders.
You may well find an accountant who won't charge you catch up fees, many of the contractor specialists won't as they want to offer an incentive to help you on board, but waiting in order to save £500 in professional fees could cost you more in lost opportunities. Or in penalties if you've done something wrong in the meantime.
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