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 Pension Relief in the Tax Code 111 2
- Auto enrolment confusion 2,039 47
- CGT on lost shares/scam 367 4
- Setting up a practice 357 5
- Very large share capital by mistake 480 7
- VAT refund if only output tax on first claim 435 4
- 24 month rule and expenses 251 1
- Love is in the air 523 6
- HP agreement in Directors name but payments under company 652 17
- Stamp Duty 293 4
- Physiotherapist and vat and agency work ( one for Les Howard???) 238 4
- I am 34 years old, am I too old to start a career in Accounting ? which is the best way to pursue it 1,800 21
- Another Sneaky Tax Hike! 572 5
- Incorporation of gp practise 246 1
- Sage Instant Accounts Complete De-install problem 261 9
- Client Paperwork Retention? 571 13
- Paid staff their normal salary instead of SMP 580 7
- Tax Overlap Reporting 376 4
- Pay rise - how to enter in Moneysoft 394 9
- Reimbursing director travel costs 454 6
- DTA tie-breaker issue 300
- Tax Implicatins on a Directors Loan 288
- CGT for NOn UK residents 280
- Employer's pension contribution - need to be PAYE registered? 275
- What are the tax implications of overseas sales through a UK based company? 253
- profit or loss on furnishings and deed of trust 239
- Apprenticeship Levy 236
- Tenants in Common - Actual % split not written down 224
- Capital Gains personal representatives 220
- Discretionary payment to sick employee 208