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.
- Auto-Enrolment 3,458 168
- Investor exit 59 1
- Partially exempt? 23 1
- Tax question about small group and how to set up 112 3
- Place of Supply or these two contracts walk into a German Bar 230 4
- OBK 192 5
- Proof of Delivery 118 1
- Accounting for a VAT Group 113 3
- Xero (another cloud system) and your year end accounts file 107 2
- NIC thresholds - two employments 1,682 25
- Twenty signs your practice is bad at tax 372 4
- Property expense - legal fees 104 2
- Any Scottish members out there? 15,727 588
- Rental Income Tax Planning 101 2
- What type of Trust? 92 1
- Dormant Company 128 2
- Research expenses for authors 240 4
- QuickBooks, Xero, FreeAgent and ClearBooks 769 16
- Withholding Tax - Invoicing Ecuador 120 2
- Company Loan to associated company 84 1
- Best way to take money from a business if you have unlimited EIS allowances? 505
- Skandia using wrong address 456
- Does anyone use PS Financials accounting software out there? 266
- Employee rewards 245
- FHL, period of grace and Entrepreneur's relief 244
- Legislation access for part-time sole practitioner? 211
- EPS Analysis - Change to EURO 203
- Rental Property W&T And Equipment 193
- Gift of reversion and lease into trust by two different people - later PPR 186
- Etax Australian 155