What are the risks?
I met a new potential client yesterday who has a one man band limited company. The current accountant does everything, according to the potential client.
He had no accounts, no company documents, no cert of incorporation, no register, no articles, etc, even though his home is the registered office, and he assumes they are all with the accountant. He had never heard of dividend vouchers or Directors Loan account. He doesn't know whether he gets Directors remuneration. He just gets a call from the accountant saying he needs to spend some money!!!!!!
This is so different to our way of doing things so I explained that if he liked the current accountants way of doing things then he wouldn't be very happy with us, but he is keen to find an accountant more local to his home.
I haven't quoted yet because I haven't enough information, but I do wonder if I am wasting my time and the clients money, by insisting everything is done correctly. I meet clients like this quite often and the lack of proper records, documentation, etc. never seems to cause a problem, and some clients think we are being pedantic by insisting on them, so is it worth bothering about for the really small companies?
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- Entrepreneur - want to submit accounts by myself 215 5
- Transmission of ISA 49 2
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- Next Move 715 20
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- New dividend taxation 496 3
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- Furnished Lettings - expenses normally bourne by tenant 437 9
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- Owning overseas property 347 2
- MLR and benefitting from the disclosure 291 1
- Company Car for Owner Director number crunching - is there a ready reckoner? 277 3
- How did you recalculate your payroll fees 711 8
- Client tied in to accountant. Unfair contract? 733 9
- Importing Sage Data and Year End 283 2
- Self employed and HMRC Worldwide Subsistence Rates 667
- Acrobat Checkbox Help for New 64-8 409
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- Interest paid - do new rules affect Tax Credits? 395
- FCA regulated company in a small group 347
- Self employed consultant working in Ireland 320
- Market Invoice (P2P invoice discounting) tax treatment 241
- DTA tie-breaker issue 211
- Tax on internet ad sharing income 208