Accounting info needed???

[kween]

Hi there,

Just wanted some info. Basically for past 5-6 years, I was a limited company, contracting my work and doing it via limited company.
My accountant charged me 750.00 plus VAT making it 900.00 to do accounts and self assessment.

However, due to recession, work hasn't been great and I've been working a day, max two days per week.
Accounts are due now, as tax year ended 31st march 2013.
However, I'm not willing to pay £900.00 fees to have my accounts done as I've barely worked to be honest, for two days, that's pure rip off.
I'll be closing down the limited company, I guess that's the correct thing to do.
So if anyone can recommend or advise someone cheaper as I reside in the West Midlands, I would appreciate it.

Also, I will now be starting full time employment with a company, so will be in an employed status. However I may do a few contract days.
So for the income here, for the contract days, I'm guessing its just self assessments that I'll need to do?? Correct me if I'm wrong.
And roughly what fees are involved here?? How much approx??

If I'm doing an extra day a week of contract work in addition to being fully employed by a company, is it better in terms of tax to go as sole trader or leave the limited company open and do it that path??

Any advice would be great.
Thank you.

 

[MyAccountantOnline]

Hi there,

Just wanted some info. Basically for past 5-6 years, I was a limited company, contracting my work and doing it via limited company.
My accountant charged me 750.00 plus VAT making it 900.00 to do accounts and self assessment.

However, due to recession, work hasn't been great and I've been working a day, max two days per week.
Accounts are due now, as tax year ended 31st march 2013.
However, I'm not willing to pay £900.00 fees to have my accounts done as I've barely worked to be honest, for two days, that's pure rip off.
I'll be closing down the limited company, I guess that's the correct thing to do.
So if anyone can recommend or advise someone cheaper as I reside in the West Midlands, I would appreciate it.

If you've kept some good accurate accounting records and just need your year end company accounts completed you should find several accountants who will be able to do the work required for less than you've paid in the past.

My firm shows our fees on the website if you want to take a look.

Also, I will now be starting full time employment with a company, so will be in an employed status. However I may do a few contract days.
So for the income here, for the contract days, I'm guessing its just self assessments that I'll need to do?? Correct me if I'm wrong.
And roughly what fees are involved here?? How much approx??

If I'm doing an extra day a week of contract work in addition to being fully employed by a company, is it better in terms of tax to go as sole trader or leave the limited company open and do it that path??

Any advice would be great.
Thank you.

You can certainly undertake self employed work in addition to your employment.

If you do this you'll need to register with HMRC as self employed and complete a Self Assessment tax return each year reporting the income and claiming any allowable expenses.

If you dont mind spending time reading up on this you may find you can deal with this yourself.

Here's a good place to start - http://www.hmrc.gov.uk/startingup/index.htm