Reply to: Accounting flat rates

[kal]

I suppose it does not include bookkeeping.

If by bookkeeping you mean I have to fill in their spreadsheet once a month with income expenses and other outgoings so that it is reconciled to my bank account then no it doesn't. I would rather do that myself as then I know exactly whats what (and at the end of the day I am legally liable not my accountant), takes about half an hr. They do my PAYE, tax returns and vat calculations and tell me what I need to pay, to who and by when.

[autumnleaf]

WSS, never had a need to meet mine face to face, email queries are dealt with more than prompty, oh and I'm paying £85 + VAT a month.

I suppose it does not include bookkeeping.

[kal]

If a personal service means answering your emails and phone calls promptly then fine however I've never had any need to met my accountants in person.

WSS, never had a need to meet mine face to face, email queries are dealt with more than prompty, oh and I'm paying £85 + VAT a month.

[SueEllen]

I feel the rates are reasonable and competitively priced. Though having a local accountant would have its own advantages as you get a more personal service. It would be easier to get your work done and also understand those issues which you are not well informed of.

If a personal service means answering your emails and phone calls promptly then fine however I've never had any need to met my accountants in person.

[autumnleaf]

I feel the rates are reasonable and competitively priced. Though having a local accountant would have its own advantages as you get a more personal service. It would be easier to get your work done and also understand those issues which you are not well informed of.

[TheCyclingProgrammer]

FWIW, I'm currently paying £60 + VAT a month after doing a deal with my new accountant (6 month discount) rising to £80 after that.

It's not his full, complete accounting package (which includes a FreeAgent account that I already have for free) but does include advice when I need it, answering queries regarding my bookkeeping and assistance with FreeAgent when I need it, my end of year accounts and my corporation tax return. He is also happy to give me personal tax advice, subject to fair use.

Special projects requiring the help of a specialist (like a CGT issue he recently sorted out for me) are charged on an ad hoc basis.

I'm more than happy to deal with my own weekly bookkeeping and submitting my rather boring self assessment each year. FreeAgent takes care of my VAT returns and payroll.

IMO everyone should have an accountant but any contractor should know how to look after their own books. It's not hard for simple businesses like ours and its good to be on top of things as ultimately, it's your responsibility.

[Jessica@WhiteFieldTax]

Generally there shouldn't be a price differential between IR35 and non IR35 - the technical operational aspects aren't that complex once the status decision is made, however if you look at a site like Accounting Web some accountants are scared for some reason by IR35 - I know of a five partner firm who "don't understand it, won't touch it" for example. Horses for courses, I really don't understand the tax and accounting intricacies for Farmers (google "herd basis").

£1,000 pa + vat is about right for company accounts - you can get it cheaper, but you sometimes have to ask if there are strings attached. Cost wise, the right staff mix and on costs dictates that as a sensible fee level; anyone offering a bundle of services for a PSC at much less is possibly cutting service levels, underselling themselves (why?) or using a strange staff mix.

YMMV

[Contreras]

Food for thought thanks for that ill have a good look through the sticky!

And replies to the other thread you started.

[SueEllen]

I've not got anything to compare this against just yet, I appreciate thre isn't just the money to consider, the company who quoted the above have experience of dealing with the likes of me and did appear to know their stuff when I had a long chat wi them yesterday. Thanks in advance!

You do know they are your accountant not your bookkeeper and you need to keep on top of your books? Particularly if you don't want to be ripped off by them. Search for "Upton"

[Sockpuppet]

Ask what it includes. Does it include payroll etc.

[John77]

Food for thought thanks for that ill have a good look through the sticky!

[DirtyDog]

Sometimes having a local accountant makes it easier to go and smack them round the head when they make really, really basic mistakes.

Not that my local accountant ever did that. Unlike my online one.

[northernladuk]

Thanks all for the responses. I wan to go down the ltd option as I know some roles require it.

As for ir35 the a accountant suggested there is a greater overhead in dealing with HMRC if I end up falling within it but obviously going to try and avoid that!

The accountancy sounded experienced to me and told me they have a fair few clients in my situation they are also happy to work entirely online so submitting paperwork whilst away from home should be straightforward enough. Call me old fashioned tho I can see situations where it would be nice to go and speak to someone face to face rather than using a purely online service.

Thanks for all your help!

Well I have been with a contractor specialist and haven't seen a need to see him face to face in 7 years, the guys around me on my bank of desks are exactly the same. Most contractor accountants are not purely online. Most of the specialist are available by phone and will respond to mails in a day or so. They are also specialists in contractor accounting and know a hell of a lot about they way we work and IR35. The fact he is charging a different rate for IR35 would put me right off.

There is a thread with recommendations and comments from people stickied at the top of the thread. If you are starting out I would personally strongly suggest you go for a specialist. SJD have offices all over the place so if you are in or near a large city it is likely they will have someone not so far off.

I've done local small outfits and been burned badly but have now had 7 years with a specialist without a hitch.

[John77]

Thanks all for the responses. I wan to go down the ltd option as I know some roles require it.

As for ir35 the a accountant suggested there is a greater overhead in dealing with HMRC if I end up falling within it but obviously going to try and avoid that!

The accountancy sounded experienced to me and told me they have a fair few clients in my situation they are also happy to work entirely online so submitting paperwork whilst away from home should be straightforward enough. Call me old fashioned tho I can see situations where it would be nice to go and speak to someone face to face rather than using a purely online service.

Thanks for all your help!

[DirtyDog]

Why would it cost more if you were inside IR35?