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?
- Limited Company expenses 61 4
- client issues 738 5
- Is an ex-gratia payment to a company taxable 83 4
- Why .... 253 5
- Freehold Property Depreciation 243 10
- UK taxation of income from property in Cyprus 67 1
- Accounting for Film Rights 33 1
- Leaving the Flat Rate Scheme 61 2
- Pylon compensation - what am I missing? 128 2
- Claiming VAT without invoice 60 2
- Sell business after leaving country 437 13
- Tiwan contractor 127 3
- Rental Income 71 2
- Auto Enrolment specialist service provider 152 2
- Charity accounting 136 4
- Auto enrolement and PAYE 114 1
- VAT - E-commerce site (middle man only) - like Not on the high street 57 1
- Two questions re client meetings and TR Fees 598 10
- Lack of new PAYE Coding Notices issued 301 4
- Takeover of Annual PAYE scheme 210 5
- Lunatics in charge of the asylum - Bluestone 568
- Possible Partnership? 564
- Tax and accounting treatment on long lease granted from freehold 488
- New Fangled Penalties 366
- Clubs and Taxable Income 301
- Purchase of property freehold - capitalisation of costs 281
- Loans to other companies 226
- Closed PAYE schemes and auto enrolment 218
- Lenovo – Superfish & Komodia – is your PC vulnerable 188
- Outsource Data Entry 183