CLEARING OUT WALLY ACCOUNTANTS
Anyone examining the benefits of out sourcing must come to an inevitable conclusion. Every company's entire accountancy function should be outsourced, preferably to practitioners in America and India.
The big beneift is cost. However, just as importantly, unlike many UK based accountants, overseas practitioners feel no obligation to act primarily on behalf of HMRC. Indeed many win clients by emphasising their ability to minimise UK tax using legal methods.
Speaking to overseas accountants is such a refreshing exercise. They're quite clearly on your side. At a time of severe recession, this is precisely what we need.
Too many UK accountants have had a culture of developing cosy relationships with HMRC to make things easier for themselves. Others have a bizarre sense of morality where they actively want clients to pay as much tax as possible, because that's what feel is the right thing to do. However, that's not their job.
The mesage is clear: focus more on saving your clients money or lose out.
Doubtless this posting will attract the usual share of whingers, trotting out an array of weak arguments for maintaiing the status quo. However, there will be others - hopefully many others - who will have seen this trend for themsleves, and now recognise it as an terrific opportunity to seize business from the laggards.
- Personal Allowance for non residents 356 9
- Vat 72 3
- PAYE 84 3
- xerocon 55 1
- SA online - 4 hour limit 1,090 10
- Unemployed Accounting Graduate - Need Advice - Small Firms 154 1
- VAT: option to tax 103 2
- IHT dilemma 290 11
- Share Valuation 62 2
- Dormant company or not? 309 13
- VAT - Land Related Services 90 1
- Best form of debt recovery 158 3
- Backdating VAT claim 43 1
- WIP recognition for builders 376 8
- Do I need to keep subscribing to CIMA post qualification? 300 15
- BTL property solely in wife's name - can she split rental income with husband? 180 5
- Prior Year Adjustments 104 2
- Share Issue 215 1
- Payment of Capital from and LLP and Corporate member 146 11
- Client avoiding UK Tax. 755 23
- Feedback on accounts production software for IFRS 655
- Property let at a reduced rate - losses brought forward 519
- Auto enrolment excuses 491
- Removed post 369
- Add T&Cs to Sales Order in Sage 344
- Social investment tax relief 160
- Patent Box and worldwide patents 154
- Call Centre Data Costs 153
- Digita Hosted Software 138
- option to tax 127