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.
- Goodwill omitted from first years accounts 247 15
- Buying Microsoft's Surface Pro 3 450 10
- Straightforward email correspondence or PDF letter attached to blank email? 532 6
- Course costs for retraining as a barrister 144 7
- Travel and Subsistence expenses while abroad 283 4
- How to post Sales figures in Sage50 Accounts (we use separate Sales ledger) 102 2
- Limited company buying a car 126 3
- ACCA practice certificates 490 5
- Limited company buying director's car 284 10
- Question on HMRC past taxes (+penalties) on non-resident 70 1
- Is it possible to change a client's trading address for Vat purposes online 81 1
- WC's and capital allowances 171 3
- Entrepeneurs relief 299 13
- Dress code 1,539 36
- Which company is best for online new company formation? 474 13
- CTA and Tolley's tax handbooks 253 6
- HMRC Seminar on Penalties - Did you last the course? 374 4
- CIC Tax - what is trading? 471 23
- What is the status of "Whistleblowing" these days - do you get rewarded? 177 4
- Loan Repayment on Invoice 104 3
- CTA study material 765
- Anyone have clients that use Pay4Later to offer customers credit? 476
- Raiders of the Lost Tax File 394
- Employment related securities question 307
- AIM Stocks and IHT 279
- Tax Relief for overseas employees 257
- Expat pension contributions? 255
- Trust for Employee 233
- Service Charge Accountant Career Options 170
- IPP (International Pension Plan) income 147