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.
- Offsetting CIS tax suffered against CT 198 9
- VAT on motor expenses 924 34
- A change from the old Q v NQ debate 426 14
- ideas for a bonus scheme for accountants 486 8
- Why do HMRC have a different FPS liability to the amount I sent? 1,743 23
- another ir35!!!! 1,187 8
- Sage Payroll with 'employees' not having tax or NI deducted 121 2
- Money transfers between companies owned by one person 243 11
- Limited Company - Personal Bank Account 2,395 42
- Sage 50 142 1
- Cleaners wages at small church -PAYE or self employed ? 249 5
- Associated companies - CT small profits relief 208 9
- Introduction of Goodwill 262 6
- How to account fot Cross-border vat. 133 2
- Sage 50 (2010) 143 3
- sole trader - operating under cis 124 2
- What does it mean?? 402 11
- Paint Manufacturer Flat Rate Scheme 295 13
- Entrepreneurs' relief for trustees - receipt of rent 149 3
- PayPal Transaction Analysis 180 4
- Skandia using wrong address 1,552
- Nil Rate Band Trust - index linked debt by way of charge over property 855
- International interest certificate 473
- NOVA 330
- Subby expenses subject to tax & NI? 239
- Can Limited Company Buy Share of Rental Property? 229
- DOUBLE TAXATION RELIEF BETWEEN A PRIVATE LTD COMPANY AND GREECE (the private Ltd has no employees and its main activity is 215
- Management expenses for investment company 213
- Bonus Bonds 211
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 196