[dave0123]

Hi,


Does anyone or has anyone used TaxAssist accountants???

just am unsure about my accountant she doesnt do much just fills my tax return in and i dont speak to her for another year but she doesnt check that iv done anything right just goes along with what iv bought and printed off from George.

Am not sure just dont think shes doing it quite right so could be looking to use someone else and i just got a job doing 1 of those accountants and wonderd if anyone has used them before.

Thanks Dave

[Neil_A]

Allot of accountants do this mate... But there is company's out there that stick with you throughout the year.. And work with you ALOT more.. Do a search on Google

[windowwashers]

Allot of accountants do this mate... But there is company's out there that stick with you throughout the year.. And work with you ALOT more.. Do a search on Google

Thus is true, but they also cost alot more than a once a year accountant 
I tend to speak to mine quite a bit these days god knows what my bill is going to be for next year  :

[dave0123]

yer , i understand it would cost more just the thing is..


i dont no alot about keeping records and claiming for stuff and all the %'s that your allowed but she doesnt even look at any of the invoices from stuff i have bought obv am going to add everything into george because iv still spent all the money but that doesnt mean iv worked out the % that your sposed to claim on such stuff as dep in vehicle etc and she doesnt do any of that.

So thats why i think mayb i should try someone else because at the end of the day its me signing the self assesment form  .

I wouldnt say my business was huge that i needed to talk or see someone every week but i just mean now and then to get advice from and make sure everything ok check everything at end of year and do books etc.

Dave

[eddie d]

b4 you dump her .
i would speak to her and tell her what you want .perhaps she thinks your happy with the service .
you should tell her you want more help and guidence .see what she says.

as far as i kno tax assist  is a franchise .(not that  a franchise is bad )

[Village Gleam]

You are going to have to learn some bookeeping dave. The reason she accepts what you say is that she has no choice.
How it was explained to me was.
You can depreciate assets- i think it's called capital allowances on your tax form- at 25%. vehicles are 25% too but should be done seperately.

Get yourself an asset pool everything goes into it and you subtract the 25% you claim and carry it forward to next year. Any more assets purchased start biulding it up again.

Consumables come straight off total sales as they are an expense.
You have to decide what is an asset and what is a consumable- a rought guide is £150 plus is an asset.(You might disagree a dearer pole might not last you a year and you would call it a consumable- the onus is for you to demonstrate that what you do is reasonable).

You need enought money to live on and you should do a weekly cash flow for money coming in and out. This should include your personal drawings in this. You can do this via making a monthly spreadsheet template in excel and update it weekly.
Say five years from now you were the subject of an enquiry probably their interest might focus on how you accounted for cash.

Unless you at least try to understand a bit about bookeeping I don't think a computer programme will help you.

Just my thoughts.

[dave0123]

i do understand abit of book keeping but not indepth like that thats the whole point of having an accountant.

Maybe it would be best for do book keeping then  i dont know.


Dave

[Andy@w.c.s]

I have had my accountant for the past 25
and touch wood never had a problem
I did have a worry the other day and called into see him at the office
he starts at 6 30 in the morning
within5 mins sorted and my mind was at rest
my advice is always to plug in tight to the people you need and pay they can save you so much worry and money
Andy

[Village Gleam]

Your tax return is basicaly a profit and loss account. This shows how much you made in the year.

A weekly cash flow has nothing to do with this, but it can show how you were able to pay money in the bank, go on holiday etc. For instance, say one week you paid £1,500 cash in the bank, where did it come from?

Your end of year returns are probably fine. The question you need to ask your accountant is what kind of records  do you need to keep and in what detail.

[dave0123]

Your tax return is basicaly a profit and loss account. This shows how much you made in the year.

A weekly cash flow has nothing to do with this, but it can show how you were able to pay money in the bank, go on holiday etc. For instance, say one week you paid £1,500 cash in the bank, where did it come from?

Your end of year returns are probably fine. The question you need to ask your accountant is what kind of records  do you need to keep and in what detail.

with regards to the end of year returns, iv just recorded all expenses into george and given to my accountant but i dont no much about the % of claiming dep in such as vans and computers and other equipment. Alot of people on hear i have heard jus give all the paper work 2 there accounant at end of year.


Dave

[Village Gleam]

Personal questions that you mustn't answer  but should think about.

Do you have a business or seperate bank account to pay your cheques in and pay your suppliers? you should.

Do you record your weekly drawings? how much do you pay yourself?

How do you know which jobs paid by cash and which by cheque?

You pay your accountant to fill in your return. That's what she does, and all she does.

[dave0123]

yer i understand were your coming from about thats all i paid her to do was the return.


But i did say when i first went to see her that i hardly new anything and what is the best way to do the books and keep records.

I will just have to speak with her and if still hot happy maybe  i should look somewere else.

Dave

[mark dew]

You first need to know what it is you want from your accountant.
Is it to make your life easier? Or maybe having certified accounts will allow you to get a better priced mortgage etc etc?
As long as you keep on top of your accounts weekly or whatever, there is no reason why you cannot do them on your own.
The inland revenue will answer any question you will have if you do them yourself and their advice is free.
I personally want certified accounts as i can choose from a wider range of mortgages when my current contract expires.
Doing your own accounts will not be difficult, but an accountant can keep abreast of new developments and would probably save you money with all those little things to claim that can slip your mind when you do them yourself.
I do my own accounts basically and my accountant browses through and adds whatever he thinks i am entitled to, to my expenditure.
I only pay £40 for this and he has gained me more in savings. If i am earning £25+ per hour it is worth me not having to spend a few hours each year keeping up with an tax changes etc.
You should really know what you want from your accountant and discuss it with her.
The more she does the more she will charge, but in my opinion it is worth it at the end of the year.