Reply to: Will accountant really save money?

[pr1]

there's no way diseasex isn't trolling, stop biting, everyone

[Bozwell]

It's rarely a good a to buy property with a limited company. The possible exception to this is for commercial property that your company is going to inhabit. But don't trust my advice I'm not a financial adviser.

[TheFaQQer]

I have better things to do then explain why that advice is crap. Go and see a different, decent financial advisor and ask him whether its best to invest in property on a personal basis or through a limited company....

Or you could look at one of the large number of threads on CUK about buying property to realise what cack advice that is.

Regardless of that, the decision to go with someone who is rich and you are unsure of seems particularly stupid.

[diseasex]

I have better things to do then explain why that advice is crap. Go and see a different, decent financial advisor and ask him whether its best to invest in property on a personal basis or through a limited company....

Well you had time to reply that you don't have time to reply.
The guy said "he would" buy properties within the limited company. That's obvious that it all depends on circumstances.

[eek]

This guy is one of like 5-6 accountants in this company. He is the owner and deals in investment topics, theres Vat guy, bookkeeper , etc , people that deal with different topics separately.
I liked the fact he's been knowledgeable , have money and know ways to avoid high tax bill. Like the properties example.
Explain further why , what he said, is false please
THanks!

I have better things to do then explain why that advice is crap. Go and see a different, decent financial advisor and ask him whether its best to invest in property on a personal basis or through a limited company....

[diseasex]

1) how is him being rich a good sign?
2) and even



+1....

This guy is one of like 5-6 accountants in this company. He is the owner and deals in investment topics, theres Vat guy, bookkeeper , etc , people that deal with different topics separately.
I liked the fact he's been knowledgeable , have money and know ways to avoid high tax bill. Like the properties example.
Explain further why , what he said, is false please
THanks!

[Snarf]

Unless you would've spent that extra time working and earning, it IS a cost saving. Your time is only worth money if someone is prepared to pay you.

Personally I value my free time as worth more than my hourly rate... If paying an accountant frees me up for a few hours a month during which time I can take the kids out or meet friends then its worth it...
Of course, if the wife wants to go shopping then Ill probably need to stay home, lock myself in the office and pour over the books until she gives up on the idea!

[stek]

Looking at that post - fire the accountant now.

+100000

I see a train wreck here.....

[eek]

Well thats unhealthy to think like that . There has to be some balance in making money.
Days passing and I kinda chose accountant now but still am unconvinced. The pros, this accountant is rich and will serve good advice on future (hopefully better) profits, like he advised me to keep properties within limited to save on capital gains tax on sale (if its under limited you can reduce the capital gains by inflation). The cons are 1000 less a year, and with the software im using, which calculates most of the figures required by tax filling I don't see much use of him.

Long story short, I haven't bought myself a piece of clothing for 2 years (warchest is growing strong) and my hand itches when about to sign 90£ a month liability instead of doing the work myself

not sure again

1) how is him being rich a good sign?
2) and even

Looking at that post - fire the accountant now.

+1....

[TheFaQQer]

Well thats unhealthy to think like that . There has to be some balance in making money.
Days passing and I kinda chose accountant now but still am unconvinced. The pros, this accountant is rich and will serve good advice on future (hopefully better) profits, like he advised me to keep properties within limited to save on capital gains tax on sale (if its under limited you can reduce the capital gains by inflation). The cons are 1000 less a year, and with the software im using, which calculates most of the figures required by tax filling I don't see much use of him.

Long story short, I haven't bought myself a piece of clothing for 2 years (warchest is growing strong) and my hand itches when about to sign 90£ a month liability instead of doing the work myself

not sure again

Looking at that post - fire the accountant now.

[diseasex]

Unless you would've spent that extra time working and earning, it IS a cost saving. Your time is only worth money if someone is prepared to pay you.

I've been in the situation where I have hourly paid contracts which let me put in as many hours as I can/wish and THEN your view changes because going out for a pint suddenly costs £75

Well thats unhealthy to think like that . There has to be some balance in making money.
Days passing and I kinda chose accountant now but still am unconvinced. The pros, this accountant is rich and will serve good advice on future (hopefully better) profits, like he advised me to keep properties within limited to save on capital gains tax on sale (if its under limited you can reduce the capital gains by inflation). The cons are 1000 less a year, and with the software im using, which calculates most of the figures required by tax filling I don't see much use of him.

Long story short, I haven't bought myself a piece of clothing for 2 years (warchest is growing strong) and my hand itches when about to sign 90£ a month liability instead of doing the work myself

not sure again

[d000hg]

There are reasons for doing this but cost saving is not one of them. Once you have put the effort in it will easily have cost you more in time

Unless you would've spent that extra time working and earning, it IS a cost saving. Your time is only worth money if someone is prepared to pay you.

I've been in the situation where I have hourly paid contracts which let me put in as many hours as I can/wish and THEN your view changes because going out for a pint suddenly costs £75

[Snarf]

I think about it this way:

You probably could figure it out and get by, in the same way that my clients could probably fudge together their own software if they got a few books and spend a bit of time messing about in visual studio....

As long as their rate is reasonable its going to save you time and the end result will be better.

And of course their fee will be an expense, so reduces your CT... Your accountant would tell you that.

[Snarf]

I think about it this way:

You probably could figure it out and get by, in the same way that my clients could probably fudge together their own software if they got a few books and spend a bit of time messing about in visual studio....

As long as their rate is reasonable its going to save you time and the end result will be better.

[TheFaQQer]

To sum that up , it wont save money for a typical contractor but it will save a lot of hassle

Assuming that you won't make any mistakes, and know the law, and know the ins and outs of what you can do, then yes.

If any of those assumptions aren't true, then that's not what I said.

HTH BIVMDI