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.
- Unpaid Fee's 517 9
- VAT margin scheme 96 9
- Lack of Quickbooks Online Coverage 318 5
- Company Dividends Received 95 2
- Is Corp tax payable on legacy received by bowls Club? 130 1
- Late Filing SA due to property income, individual was also a non dom for 15 years 117 8
- Client information from previous accountant 420 8
- Professional Qualification 200 1
- Closing down - who should buy whom? 556 29
- Question regarding A1 Form 169 1
- Maternity allowance 53 1
- Freehold Property Depreciation 52 1
- We contribute a percentage of employees' salaries to a pension scheme set up by them - do we need to get involved in auto-enrolment? 92 2
- Auto-enrolment drivel 706 11
- Tax and NI on payment to overseas employee 210 4
- Shares paid - petty cash 99 3
- Two questions re client meetings and TR Fees 525 9
- SA302s - Lenders to accept non hmrc copies 895 16
- cold file reviewer needed 270 2
- Property jointly owned by non married joint owners 87 1
- Possible Partnership? 527
- Lunatics in charge of the asylum - Bluestone 512
- Tax and accounting treatment on long lease granted from freehold 472
- New Fangled Penalties 324
- Clubs and Taxable Income 271
- Deferring taxable income until after 5 April 268
- Purchase of property freehold - capitalisation of costs 263
- Loans to other companies 206
- Closed PAYE schemes and auto enrolment 182
- English Company Owning Property in Scotland 174