View Full Version : is it always best to speak to an accountant?
paul1966
3rd July 2009, 06:04
i am shortly starting a sole trader business doing computer aided design. initially i will have one client and as i am working full time in another job i can only work during my spare time so i am applying for a small earnings exception on class 2 NI.
i am not sure if i would benefit from having a 1 hour chat with an accountant regarding tax and what i can claim for eg consumables (ink,equipment),heating,broadband. i will be working from a home office which either could or couldn't be solely used business use, as i am concerned about capital gains tax . i am seeing a business link adviser next week but i am assuming they won't discuss the above.
so in my situation what do people suggest? how much am i looking at for one hour of an accountants time?
any advice appreciated.
Paul
I suggest you do see an accountant for two reasons:
It will set you out on the right course.
It will put your mind at rest regarding tax/NI etc matters.
The fact that you posted the question suggests you are concerned. Why not put an end to that and allow yourself to concentrate on the new business?
Good luck.
MyAccountantOnline
3rd July 2009, 07:02
i am not sure if i would benefit from having a 1 hour chat with an accountant
Hi Paul
I will first of all declare I am bias (being an accountant) but the answer to your question - YES, definately.:)
Their are so many things an accountant can assist you with at this stage.
You will also find that most good accountants will give you an intial free consultation.
elainec100@cheapaccounting
3rd July 2009, 07:17
i
so in my situation what do people suggest? how much am i looking at for one hour of an accountants time?
any advice appreciated.
Paul
most will give an initial chat for free :p
good luck
Maslins
3rd July 2009, 08:04
Business link are ok to a point, but I would not trust them to answer any tax related questions. The worst thing is, if you ask them, they rarely say "I don't know", they will give you an answer confidently without really knowing what they are talking about.
As mentioned above, most accountants will give an hour's free consultation. They will inevitably follow it up with a phone call/e-mail or two seeing whether you want them to do any ongoing (paid!) work, but accountants aren't renowned for the hard sell (we're too geeky and shy for that!) so just say "thanks but no thanks" and you'll be fine.
If you're feeling really cheeky, ask a few accountants for consultations, that way you can check the first person's answer, and also ask the second/third bod questions you forgot to ask first time around.
Davem1234
3rd July 2009, 11:15
I can't believe people are talking about cheating accountants out of their time and knowledge.
An initial free consultation is fine as long as the client/accountant are going to have a continuing business relationship.
OK if they don't get on then that's different but to see an accountant with no expectation of any future business is very unfair.
Dave
I can't believe people are talking about cheating accountants out of their time and knowledge.
An initial free consultation is fine as long as the client/accountant are going to have a continuing business relationship.
OK if they don't get on then that's different but to see an accountant with no expectation of any future business is very unfair.
Dave
Peculiar attitude. Just because I ask someone a question, or have meeting with them doesn't mean that I want to jump into bed with them.
A free initial meeting is a business tactic, and one that is not guaranteed results. However enough people do it to suggest that the practice is worthwhile.
If the OP doesn't use an accountant after a meeting; that's life. But if his new business should grow and prosper and after a couple of years he finds himself in need of professional advice, there is a good chance that he will consider someone he already has had contact with.
Davem1234
3rd July 2009, 12:50
Giving a free one hour consultation is not a community service that the accountant is obliged to give but is a way of attracting new clients. Once they are through the door the accountant can impress the client with his/her knowledge and hopefully start building a business relationship that is beneficial to both parties.
The client gets enough information to get started or to answer niggling questions and the accountant shows he knows what he is talking about.
As I said if the client is not happy after the meeting then he/she can go away with no commitment and some information but surely that should not be the aim before the meeting.
Dave
AboveParr
3rd July 2009, 13:54
You should find an accountant that you can talk to and feel comfortable with - that might not be the first one you meet and generally they accept that not everyone who has a free consultation becomes a client...
Maslins
3rd July 2009, 14:39
I can't believe people are talking about cheating accountants out of their time and knowledge.
An initial free consultation is fine as long as the client/accountant are going to have a continuing business relationship.
OK if they don't get on then that's different but to see an accountant with no expectation of any future business is very unfair.
Dave
I am an accountant and recommended it! Most accountants enjoy meeting business people and discussing things with them.
Also, even if the OP came to see me and said up front he didn't want a lasting (hence paying) relationship, I'd still see him. Partly because he might decide actually I'm worth paying a bit of money to to take the stress away, and also that I may be able to add value.
Even if he didn't become a paying client, hopefully he'd walk away thinking "That guy was pretty good" and if someone asked him if he knew a decent accountant he might mention my name.
Free initial consultations are basically a marketing "expense".
frauke
3rd July 2009, 14:46
You should find an accountant that you can talk to and feel comfortable with - that might not be the first one you meet and generally they accept that not everyone who has a free consultation becomes a client...
This is very true. I would not feel happy charging someone, even if they then decided to go elsewhere. When a potential client, after the free consultation confirms they will then instruct me as "Agent/Accountant etc". It is only at this point I would ask for a payment on account, or monthly payments to commence. But not until then.
How do you know that the advice you are paying is worth getting? Especially as the first consultation will normally only include general advice (which is easily accessible), rather than any specialist advice (which is not).