Recent content by TheSkyisGray

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    Unable to Access My Companies HMRC GOV Gateway Account - Please Help

    I fail to see why the accountant should not be paid just because you didn’t do proper due diligence. Check your contract to see if you can recover the fees from the seller so you can settle them. What else don’t you know about?
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    Accountant failure in duty of care / professional negligence?

    We usually have annual tax planning meetings with our clients and send updates after each budget. It sounds like you are not a good fit so I would file these accounts and move to a better fit. If you are going to consistently make £130k profits then are you really going to put £80k a year into...
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    Unable to Access My Companies HMRC GOV Gateway Account - Please Help

    Call up the online helpdesk. Accountants use their agent accounts so wouldn’t know your GG login. But you could pay them to file your accounts and VAT returns. And pay them for previously doing this. I assume you were aware of the company’s debts when you purchased the company.
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    Self-assessment - assuming I will take same dividend in 2024 - 2025

    I wouldn’t file an amended return. If the payments on account are still showing then reduce the payments through your online account. But wait until you are sure because interest applies if it turns out they fell due.
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    VAT scheme for small catering company

    FRS would only be beneficial if their input VAT was very low. Of course you should include the online sales. I would get advice to ensure it is all compliant since it would be far more costly if it turned out not to be. It is a really hard market. Has he compared his prices to his competitors?
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    dubai business charging u.k business marketing costs but a director of both, is this legal?

    If it’s all done on a commercial basis. If you are UK resident then I would expect that it would result in complicated tax (if the Dubai company is managed and controlled in the UK) and more professional fees as you would need experienced advisers in both countries.
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    Is it normal for an accountant to charge £100 to add new employees

    I love FreeAgent but, in my view, the payroll option is for a Director doing their own payroll. A practice charging those fees should use proper software and include new starters, pension etc. And not make mistakes. The firm should be checking this person’s work.
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    Is it normal for an accountant to charge £100 to add new employees

    We charge £10 per month per additional employee so sounds right. You could get it done cheaper elsewhere, a payroll bureau or whatever.
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    General partnership - advisable in this situation?

    Individual means a natural person and not a company.
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    Dividends and milleage

    You will need to calculate the mileage, work out the profit, work out the tax, work out the reserves and then pay a dividend out of the reserves. If you don’t trust your accountant get another one.
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    Basis Period Reform & Overlap Profits

    I used the online chat and got it straightaway and you can save the chat as evidence.
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    Do I need Quickbooks?

    Maybe, if your year end was December. I have a few of these as 23-24 is a transitional year but am not charging extra (they use software or bookkeepers so it is still one tax return). If you think the fee is higher than you were expecting then ask the accountant the reasons as I am only guessing.
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    Do I need Quickbooks?

    But the time spent by your accountant may be less so the fees less. Just a suggestion as to why you may wish to move to software. I would only move clients if it benefitted them. There is no HMRC requirement to move and there may never be. Is the bill itemised? Was it more work as effectively...
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    Do I need Quickbooks?

    Well maybe they mean that, if you use software, then their fees would be lower. Were the fees agreed in advance?
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    Do I need Quickbooks?

    When you say there are extra period issues, is this because sole traders are moving to a 31 March/5 April year end? Did you have a different year end before? This may be why your tax bill is higher or maybe I have misunderstood.
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