Book keeper reccomendations

[MDUK]

HI, closed business recently, current income is from property rental <£30k and drawing down on investments/pension

left our business accountant as the cost was too much for us now we're not a proper business

2 x personal tax returns for Jan
end of year partnership return for the rental income due end of march

any recommendations and indication of cost please. VAT is a pain now of course haha

 

[Lisa Thomas]

I didn't think bookkeepers dealt with income tax returns. I'm sure someone will correct me if that's wrong.

 

[MDUK]

I didn't think bookkeepers dealt with income tax returns. I'm sure someone will correct me if that's wrong.

ahh, you could be right, i may be over simplifying

 

[Fagin2021]

A decent bookkeeper is perfectly capable of dealing with income tax returns. Indeed, an experienced bookkeeper can deal with just about anything financial up to auditing accounts - which isn't necessary anyway for the majority of small businesses.

The term 'bookkeeper' can be misleading. It implies a very basic service such as entering purchase orders and sales invoices into a system. In fact, a good bookkeeper can do (almost) everything an 'accountant' can do - and at much less cost.

Depending on location, a basic bookkeeper will cost around £20.00 per hour, an experienced one twice that.

 

[NicoJ]

A decent bookkeeper is perfectly capable of dealing with income tax returns. Indeed, an experienced bookkeeper can deal with just about anything financial up to auditing accounts - which isn't necessary anyway for the majority of small businesses.

The term 'bookkeeper' can be misleading. It implies a very basic service such as entering purchase orders and sales invoices into a system. In fact, a good bookkeeper can do (almost) everything an 'accountant' can do - and at much less cost.

Depending on location, a basic bookkeeper will cost around £20.00 per hour, an experienced one twice that.

It is actually more misleading to suggest that a bookkeeper is an accountant and vice versa.

If someone offers a bookkeeping service then you should not expect them to prepare your accounts and tax returns. If they do then they are offering themselves up as an accountant. The two should not be confused.

To the OP you may struggle to find a decent accountant at this short notice but check in your local vicinity or people per hour might be an option. Why do you think your partnership return is due in March?

 

[Frank Wessely]

Hi MDUK

I can recommend https://paperwerks.co.uk/ - Mitul Shah. A cross between accounting services / bookkeeping.

Thanks.

 

[Fagin2021]

It is actually more misleading to suggest that a bookkeeper is an accountant and vice versa.

If someone offers a bookkeeping service then you should not expect them to prepare your accounts and tax returns. If they do then they are offering themselves up as an accountant. The two should not be confused.

To the OP you may struggle to find a decent accountant at this short notice but check in your local vicinity or people per hour might be an option. Why do you think your partnership return is due in March?

Disagree. You can call yourself a bookkeeper, accountant, chief mahout or whatever you like. What you can't do is call yourself a 'Chartered Accountant' or any other type of accountant that requires a formal qualification.

A competent and experienced 'bookkeeper' is perfectly capable of preparing vat returns, management accounts, annual accounts, tax returns and the like.

 

[NicoJ]

Disagree. You can call yourself a bookkeeper, accountant, chief mahout or whatever you like. What you can't do is call yourself a 'Chartered Accountant' or any other type of accountant that requires a formal qualification.

A competent and experienced 'bookkeeper' is perfectly capable of preparing vat returns, management accounts, annual accounts, tax returns and the like.

No. If you are preparing accounts then you are an accountant. End of. A bookkeeper does not prepare accounts, they are two different professions and two different skillsets.

Saying that a "decent bookkeeper" can prepare accounts demeans the profession. You are correct that anyone can call themselves an accountant, we already have to deal with the mess some of these accountants produce without people failing to differentiate between a bookkeeper and an accountant.

A GP may be able to do surgery, does that mean you would call them a surgeon?

 

[Fagin2021]

No. If you are preparing accounts then you are an accountant. End of. A bookkeeper does not prepare accounts, they are two different professions and two different skillsets.

Saying that a "decent bookkeeper" can prepare accounts demeans the profession. You are correct that anyone can call themselves an accountant, we already have to deal with the mess some of these accountants produce without people failing to differentiate between a bookkeeper and an accountant.

A GP may be able to do surgery, does that mean you would call them a surgeon?

"A GP may be able to do surgery, does that mean you would call them a surgeon?"

I wouldn't, but apparently, you would - as you state that a bookkeeper who prepares accounts should be called an accountant.

So no argument there then.

It might have been clearer if the OP had framed the question differently like "do I still need a qualified accountant to do my accounts and tax returns now ?"

 

[Newchodge]

No. If you are preparing accounts then you are an accountant. End of. A bookkeeper does not prepare accounts, they are two different professions and two different skillsets.

Except neither is a controlled occupation. Anyone can call themselves an accountant, anyone can call themselves a book keeper. Anyone can offer account filing services.

 

[Newchodge]

A GP may be able to do surgery, does that mean you would call them a surgeon?

A GP would be breaking the law if they undertook surgery.

 

[NicoJ]

"A GP may be able to do surgery, does that mean you would call them a surgeon?"

I wouldn't, but apparently, you would - as you state that a bookkeeper who prepares accounts should be called an accountant.

So no argument there then.

It might have been clearer if the OP had framed the question differently like "do I still need a qualified accountant to do my accounts and tax returns now ?"

Completely missed the point and the pertinence of the last sentence. Never mind. Its a constant battle for the profession which I could discuss for ever.

I answered the question posted so I'll leave it there.

 

[Newchodge]

Completely missed the point and the pertinence of the last sentence. Never mind. Its a constant battle for the profession which I could discuss for ever.

I answered the question posted so I'll leave it there.

Perhaps there should be a campaign for regulating the name 'accountant'? Are any of the professional bodies looking to do that, or is it just so unlikely given we have a government wanting to reduce regulation?

 

[NicoJ]

Perhaps there should be a campaign for regulating the name 'accountant'? Are any of the professional bodies looking to do that, or is it just so unlikely given we have a government wanting to reduce regulation?

Yes there's been talk for years. HMRC seem to want to remove accountants, actively encouraging people to DIY.

You will have seen the adverts from software providers saying that all you need to do is buy their software and everything will be magically correct. HMRC have bought into this completely and seem to trust these providers over the accountancy profession.

My opinion and experience, but a different thread.