Preparing co accounts myself

I am a director of a company that I run with my husband. I'm a Chartered Accountant, but have always prepared P&L and Balance Sheet for the company and then sent the figures to the firm I trained with to be entered onto their accounts system and software and submitted to Companies House and HMRC. However, they charge £950 for this, and apart from calculating and providing for deferred tax, they don't change my figures at all.

I am now considering buying a copy of VT Accounts (or something similar) and doing it all myself. The only thing that I'm worried about is that it might spark some interest from HMRC. The firm in question has an exemplary record as far as tax investigations go, and so I would guess that HMRC see accounts/tax returns submitted by them as low risk. I'm not worried that we've done anything wrong, but I don't want to save a few hundred pounds now, only to be faced with the stress and cost of a tax investigation in the future.

Can anyone advise me whether this would set any alarm bells ringing with HMRC?
Anna Fitch

Comments
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VT

AnonymousUser |

Really?

AnonymousUser |

If Mr Jenkins is right...

AnonymousUser |

Thanks Neil

dna_accounts |

shocking

AnonymousUser |

Ouch

Chris Smail |
Chris Smail's picture

Do it yourself?

frauke |

This time I'll answwer your question - No

Chris Smail |
Chris Smail's picture

Having established I can do the accounts myself...

dna_accounts |

Check List

NeilW |

mmmmmm

AnonymousUser |

Go For It

rquaye |

What about a commission arrangement....

MacSmat |

Preparing your own accounts...

Anonymous |

No

Anonymous |

Do you need VT accounts?

neileg |

From memory

dna_accounts |

Shame on your employers..

deanshepherd |

Wow..

deanshepherd |

Rip off

AnonymousUser |

DO what you are comfrotable with but..

Chris Smail |
Chris Smail's picture

best plan is as follows

AnonymousUser |

No problem

NeilW |

Do it!

Anonymous |