Recent content by accountancyextra

  1. accountancyextra

    Does anyone avoid the "accountant tax" on being a Ltd company?

    Why should you employ an accountant? Your answer is in that one sentence above! 5 full days at 8 hours a day multiplied by £6 an hour (just over minimum wage) = £240....far more than a lot of the accountants on this site would have charged you for sorting it all out properly I'm sure, and...
  2. accountancyextra

    I am hoping to open an accountancy practice...

    Gain as much experience as possible!! And by that I don't just mean getting your qualifications and learning how to do the technical part of the job. There is so much more to running a practice than being able to prepare accounts and tax returns (There is so much more to running any business...
  3. accountancyextra

    ombudsman for accountants?

    We don't actually even know what the issue/ problem is with the accountant yet! Could be anything. I was once threatened with "the ombudsman" because I refused to take the guy on as a client
  4. accountancyextra

    I am a ltd company i need help

    Wise words Jenni
  5. accountancyextra

    Sales falling, need new direction...

    Start with your products. It's no good find better ways to market stuff nobody wants, so, make sure they want it before you do anything else. If they don't want what you make, ask them what they do want (as per a previous poster) and work out how you can deliver it. Only then should you move...
  6. accountancyextra

    Writing up a Business Plan - Is it really needed?

    I thinks it's absolutely neccessary for every new start up (that wants to be successful) to have a full business plan. However, my view of full and what others view as full may be differant. As an example, full in this thread seems to imply a large number of pages. I don't believe you need a...
  7. accountancyextra

    Accountant cost

    Then it was far too subtle for me :)
  8. accountancyextra

    Accountant cost

    What he talks about is that on paper the practices make a profit. However, if they employed someone to do what the principals do in the business, or, if you added their true cost of the principal to the P&L they would actually make a loss. In other words, whilst you make a buisness desicion to...
  9. accountancyextra

    Accountant cost

    Steve Pipe talks about over 50% of accountancy practices in the UK actually making losses. This is because the principal doesn't take a market salary for their time or effort. I suspect a large part of that is down to pricing
  10. accountancyextra

    Accountant cost

    Whilst I'm sure that there will be an additional charge from the Accountant for management information, it shouldn't really be a cost... The right regular financial information will help you manage the business and drive it forward. It will provide you with the key numbers that you should be...
  11. accountancyextra

    Another nail in the coffin...or the final nail?

    The article seems to be getting mixed up between flexible working and part time - they aren't the same thing. To be honest, we've employed a flexible work regime for all team members for the alst few years. The requests can be as small as "can I start at 9.30 because of bus times" through to...
  12. accountancyextra

    End of Year Accounts

    As Elaine says, you haven't given enough information here to comment. Additional things we'd need to know: What insustry are you in How many bank accounts are there Are they used jsut for business Are they reconciled to SAGE Do you use SAGE to generate the VAT returns Have you kept your...
  13. accountancyextra

    Should a director pay themselves more than the allowance?

    Ian, I'd have to question whether the second accountant is working in your friends best interests or HMRC's? So what if HMRC don't like it? It's a perfectly legal, common and acceptable way to pay a director (as long as all the other paperwork is in order!!) and any "strong" accountant would...
  14. accountancyextra

    Best bank for lending to new business??

    That is excellent advice!! (but so often not heeded by those applying for finance)
  15. accountancyextra

    CIS, subcontractor - gross payment status being removed. Help!

    Mike, you might find that you are 2 1/2 years late :redface:
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