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Clients and MTD

Wondering how I will cope with MTD

Didn't find your answer?

Further to my question on which software to advise clients to use I just wondered how all this is going to work!

My clients in the main do not keep books nor do they wish to! I am going to have to do their books myself using some simple software.

I am concocting a plan on how to manage say 100 clients and I suppose it looks like this.

1) Make a list of clients that this applies to and disregard the tax return only clients (other than landlords).

2) Make a very short list of those who could manage their own software - 5%?

3) Get the rest to pay everything through the bank where possible and get the bank transactions downloaded monthly onto my software.

4) I choose monthly so I am only a month behind hopefully.

5) After the first month or so software knows where to put stuff (I can see problems there!)

6) I (with help!) go through each client and ensure the transactions are more or less perfect. Get client to email cash and credit card info (nightmare).

7) Quarterly upload to HMRC and botch where necessary. The botching should reduce as we go on but their will be botching I am sure.

8) Quarter 5 do the accounts properly which shouldnt take too long but will have months to do that?

9) Bill monthly my time and software cost. I will probably start from April 2022 with the better clients just to get used to this scheme. Any ideas would be helpful. No abuse thanks!

Is anybody thinking the same way as me? My clients generally just leave a bag and some bank statements. They pay £400 or less in the main - I think the may have to pay £60 a month inc VAT so I make more money but  possibly die early of stress! I detest deadlines!

Replies (52)

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By cbp99
30th Jul 2021 12:30

The good news is that (at least under current plans), there is no penalty for incorrect submissions. I assume this means that in theory, nil returns could be made quarterly. There is still the need for so-called digital links, but less need for them to be up to date.

I think we will be insisting, as far as possible, on separate bank accounts for all businesses and rentals, with no personal transactions, and no cash or cc transactions.

And prices will definitely increase.

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Replying to cbp99:
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By lordburnside
30th Jul 2021 12:49

I have quite a few subcontractors too. I spend an hour a year on them as I have it to a fine art.

I suppose in future its half an hour 5 times a year.

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By Richard Cliff
30th Jul 2021 13:04

Looks as though it will be 4 'once upon a time' tax returns with the final return being done properly for me. I am now 68 and am looking forward to taking holidays and concentrating on my poetry, all these deadlines won't stop me. I see a lot of businesses paying higher (irate) taxes, where the year end isn't 31 March or 5 April, in the year to 5 April 2023, where more than one year will be taxed in the 12 months. I am already putting plans into action to get these clients to incorporate or telling them to buy assets to reduce their profits. With our fees massively increasing to cover the cost of this extra work, I see a lot of the small businesses either packing in or still continuing on the black economy. It will end up being doom and gloom for the UK economy!

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Replying to Richard Cliff:
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By lordburnside
30th Jul 2021 13:32

Having the tax year ending on 5th April is ridiculous.

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Replying to lordburnside:
By petersaxton
31st Jul 2021 09:27

You can still use 31/03 as the accounting year end.
I would prefer 31/03 as the end of the tax year. Clients never seem to understand the dates for the tax year no matter how many times you tell them.

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Replying to petersaxton:
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By I'msorryIhaven'taclue
05th Aug 2021 10:32

Given that MTD for IT is presently set to apply to the first accounting period commencing after 5th April 2023, then switching from a 5th April year end to a 31st March year end would delay MTD for IT for a further year. viz:

Sole traders with a 5th April year end - and, for that matter landlords - will have to use MTD for IT from 6th April 2023; whereas

Sole traders (and landlords) with a 31st March year end will not have to use MTD for IT until 1st April 2024.

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Replying to I'msorryIhaven'taclue:
By petersaxton
10th Aug 2021 11:11

That's not true.
Any y/e from 31/03 to 05/04 will have to use MTD for IT from 06/04/23
See draft provisions on basis period change
https://www.accountingweb.co.uk/tax/hmrc-policy/mtd-income-tax-big-bang-...

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By K81
30th Jul 2021 13:27

For my rental clients I tend to be given letting agent statements & an insurance certificate plus mortgage interest statements. We type up simple accounts & enter figures directly onto tax return. I don't use excel (I don't even have it on my computer!) I am very concerned about MTD for self-assessment.

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By petersaxton
10th Aug 2021 11:13

You need to update your computer software. You are inefficient if you don't use a spreadsheet for accounts.

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By adam.arca
30th Jul 2021 13:31

I like your plan, lordburnside.

Mine is similar(ish) but also a bit of a different take I think as I don't plan on holding clients' hands through this.

Some clients (who can afford it and are historically good payers) will go on the full bookkeeping service if they want it. I've never done much of this but will be looking to expand this side a little as I think increased bookkeeping will also tie in with a gentle glide down towards retirement in 10 years or so. Nevertheless, this will be a small proportion of my client base.

Most clients (and, luckily for me, I've historically dealt mainly with businesses who are in the main capable of looking after themselves) will be sourced some sort of simple software and told to get on with it.

The clients who aren't capable of that but I'm willing to keep will be given some sort of simple spreadsheet which I'll upload via bridging software (assuming that is going to be an option) for a flat execution-only fee.

In both of the above 2 scenarios, the client can enter whatever garbage they want: I'm not getting involved.

What I definitely won't be doing is taking the client's quarterly bookkeeping and trying to make a silk purse out of their pig's ear. That way lies ridiculous time costs and vast client resistance.

Then, at the year end, I'm going to ignore whatever the clients have produced and prepare year end accounts pretty much as I do now, although it may well involve quite a bit of extra work if every transaction needs to be "right" and summarising isn't allowed. I think this will work as my understanding is that the "quarter 5" upload will overwrite all previous uploads (even assuming that individual transaction lines are included in the upload).

So, basically, I'll try and stick somewhere close to a narrow reading of what is needed for MTD but will be completely ignoring the spirit of what HMRC seem to be expecting agents to do.

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Replying to adam.arca:
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By lordburnside
30th Jul 2021 13:38

Yes I am glad I asked this question. I am getting different views of what to do.

I would have thought the quarterly upload would have to be a good attempt - I realise it won't be perfect.

Obviously HMRC will not have the time or the manpower to do anything about botching it. The whole things seems a bit of a waste of time.

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Replying to lordburnside:
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By the_fishmonger
05th Aug 2021 09:35

lordburnside wrote:

Obviously HMRC will not have the time or the manpower to do anything about botching it. The whole things seems a bit of a waste of time.

Therein lies another issue. Insufficient staff numbers will see the HMRC computer (is there only one?!) left alone to its algorithms.

Post soft landing* it'll regularly 'say no', issue penalties and start off a hugely elongated process of appealing the penalties because there are not enough humans to deal with the correspondence!

Vicious circles 'r' us

* even soft landing will see plenty of letters after which we'll need to sooth clients frayed nerves

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By ireallyshouldknowthisbut
30th Jul 2021 14:17

I am thinking of

1. Service one - what it was last year (ie file and forget, budget data style service, just file any old junk)
2. Service two - download bank into software, employ minimum wage clerk to mash keyboard and file based on some vague notion of the bank data, or clients to mash away and us or them to file the tosh.
3. Service three - full bookkeeping service quarterly and do it properly.

I imagine most clients will pick 1 or 2. Not sure anyone will pay for (3) although one clients can make a reasonable fist of (2) themselves.

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Replying to ireallyshouldknowthisbut:
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By I'msorryIhaven'taclue
30th Jul 2021 16:47

I've been mulling over a "service four" - let the client do as much as they can or want, then we come in at the end to sprinkle pixie dust; a collaboration service, I suppose.

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Replying to ireallyshouldknowthisbut:
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By lordburnside
30th Jul 2021 16:40

Yes I agree sending in tosh would be easier but I think I would prefer to send in the best I can with the tosh at hand. Its the time constraint that worries me.

This VAT quarter is a lot of work for me - another 100 clients tosh on top is worrying.

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By SXGuy
30th Jul 2021 15:10

Similar plan to you.

Make clients have dedicated business bank account. All income and exp, personal drawings transfer out only.

Open banking or emailed bank statements

Set up Dropbox or one drive to scan and email receipts,

The more tidy the client the less I'll charge.

The more chasing, or tidying needed the more I'll charge.

As to the fee range, I have no idea at the moment and would welcome some advice.

Don't want to charge too much on top of what they already pay, but won't be breaking my back each month chasing for peanuts.

I think I'll give each client options as to the extent they wish to handle and base cost on that.

But as I say, have no idea what a reasonable extra charge should be.

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By AdamMurphy
30th Jul 2021 16:16

Most of my clients have records which aren't on Xero etc. and I'm not going to have them paying out for software they don't need. Nor do I have the capacity to do every client's accounts every quarter all at the same time instead of one year end staggered between April and Jan each year.
I'll have to find a fudge of sorts even if it's think of a number once a quarter.

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By Hugh Simpson
30th Jul 2021 22:18

Not sure from reading this but if your clients in the main do not keep books then are they are aware of software?
MTD is not just for accountants it's for clients as well.

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By petersaxton
31st Jul 2021 09:41

I dont see the problem. If I dont have confidence in my clients I will do the bookkeeping myself. I'll get them set up on Xero with bank feeds. They can upload vouchers for each transaction or send the paperwork to me monthly and I can scan the vouchers and attach to transactions. I can then code the transactions and do any journals. Clients will have to do work promptly and I will charge quarterly.
I've been doing year end limited company accounts and tax returns for so long - only my two solicitor clients needed bookkeeping. It looks like I'll be doing bookkeeping as well as year end accounts and tax returns.

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By bernard michael
31st Jul 2021 10:06

How are you going to cope when most of the returns have to cover the same quarter ??

I prefer the incorporation route by offering the client the choice of
The additional cost of 4 extra MTD returns a year
Or
A larger charge for an annual return and limited company a/cs

A thought
In future will annual returns for MTD clients also have to be MTD ??

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By BudgetB
31st Jul 2021 19:09

My plan is basically the same as yours, however I cannot possibly see how I can cope with my existing day to day clients (the Ltds and the VAT regs) and then also have all of the self assessment people on the same quarters as well. It's going to be impossible, so I will be introducing a self selection program from early next year which works as thus;

Option 1 - you can open a new dedicated business bank account, hook up to our software, scan receipts in real time etc etc and all will be jolly, from Apr 23
Option 2 - you can be an early adopter and start option 1 from Apr 22 instead for a 'guinea pig' discount
Option 3 - you can self select a different accountant who doesn't mind running after you and begging you to bring in a half hearted bag of records every 3 months until eventually succumbing to a breakdown

Obviously this is going to cost them quite a bit more than it does now in most cases, which will be payable monthly by DD, and I haven't really worked out exactly what those fees are going to be yet.

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By adam.arca
01st Aug 2021 08:37

I know we’re a compliant bunch on the whole but I’m still surprised by the number of replies where people are basically planning to play this the way HMG want you to.

Even with tech, the extra time commitment each quarter, not to mention the bunching of work, will easily outweigh the time savings at year end. How is that circle going to be squared?

And what about the soft, people side of all this? Based on my own client base, 25% are tech leaders already ahead of where I am, another 25% will listen to me on accounts / records / bookkeeping issues, but there’s a middle 50% who are basically immovable from their own chosen path which doesn’t coincide with mine (and rightly so, more power to their elbow, in my opinion). Are we really going to act as a bunch of jackbooted nazis and force clients into “solutions” they don’t want?

Overall, therefore, l prefer my plan of client-driven, absolutely bare minimum filing every quarter, followed by the accountant ignoring all of that and starting again at the year end (which will be pretty much what we do with quite a lot of client “records” now anyway).

I don’t think my plan will survive into the long term but I do think we need to think in terms of small changes only in the short term whilst we see how this all plays out rather than diving in with sea changes which we may (will) live to regret.

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Replying to adam.arca:
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By bernard michael
02nd Aug 2021 09:38

adam.arca wrote:

I know we’re a compliant bunch on the whole but I’m still surprised by the number of replies where people are basically planning to play this the way HMG want you to.

Even with tech, the extra time commitment each quarter, not to mention the bunching of work, will easily outweigh the time savings at year end. How is that circle going to be squared?

And what about the soft, people side of all this? Based on my own client base, 25% are tech leaders already ahead of where I am, another 25% will listen to me on accounts / records / bookkeeping issues, but there’s a middle 50% who are basically immovable from their own chosen path which doesn’t coincide with mine (and rightly so, more power to their elbow, in my opinion). Are we really going to act as a bunch of jackbooted nazis and force clients into “solutions” they don’t want?

Overall, therefore, l prefer my plan of client-driven, absolutely bare minimum filing every quarter, followed by the accountant ignoring all of that and starting again at the year end (which will be pretty much what we do with quite a lot of client “records” now anyway).

I don’t think my plan will survive into the long term but I do think we need to think in terms of small changes only in the short term whilst we see how this all plays out rather than diving in with sea changes which we may (will) live to regret.

I fear with regret we may have to say goodbye to the 50%,who will be cast aside without an accounting home. If we all did it there would be a massive problem for HMRC, which should lead to a procedural change

The question now is how do we organise a mass boycott of the 50% by the profession

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By lionofludesch
02nd Aug 2021 10:07

I think there's a few folk dreaming on here. My own assessment was that there'll be a lot more work available in future. Unfortunately, it's not work I wanted to do.

The big issue for me would have been the tight time limits, coupled with HMRC's preference of a March year end which will mean bunching of work into four months of the year. The only way this will work is if the clients maintain their own records in real time. Or accountants do it monthly - which will bring its own problems.

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Replying to lionofludesch:
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By lordburnside
02nd Aug 2021 10:53

Yes I agree. It needs to be done monthly but I dont want to do monthly management accounts for 100 clients. Also I don't want to make it all up but there willl be some estimation/botching required.
I suppose the subcontractors will send in 3 months certs and we make the rest up, the hairdressers, gardeners and very small traders can send in rough figures and we just send them in - no harm done. I suppose the rest will need to be done as well as we can in the time given or get the client to do some (they will need persuading).

I think we maybe need two months to send the info in. As with everything these day its speed rather than quality. Lets hope will still have enough time to get the 5th quarter right.

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Replying to lordburnside:
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By lionofludesch
02nd Aug 2021 11:08

lordburnside wrote:

Yes I agree. It needs to be done monthly but I dont want to do monthly management accounts for 100 clients.

Jeez - you don't need to go that far !

But I think the bookkeeping needs to be done monthly. Whether that's by the taxpayer or the accountant. If the accountant's going to do it, he needs to agree a framework of deadlines to which the taxpayer will comply.

It's fine while there are no penalties but let's not kid ourselves that penalties aren't in the pipeline further ahead.

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Replying to lionofludesch:
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By DMBAcc
03rd Aug 2021 11:27

lionofludesch wrote:

lordburnside wrote:

Yes I agree. It needs to be done monthly but I dont want to do monthly management accounts for 100 clients.

Jeez - you don't need to go that far !

But I think the bookkeeping needs to be done monthly. Whether that's by the taxpayer or the accountant. If the accountant's going to do it, he needs to agree a framework of deadlines to which the taxpayer will comply.

It's fine while there are no penalties but let's not kid ourselves that penalties aren't in the pipeline further ahead.

I wonder if it will only take one publicised court case to challenge the penalty system. All I see is that we are being set up to fail (we being any self employed person / business) so that penalties will be sent out to thousands if not millions of small businesses. It may not come to that if all the local Tory MPs get loads of adverse correspondence on how HMRC are handling this. By the way when is the next general election? I wonder if the Tories will push back MTD fIT until after the election? One can hope I suppose.

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Replying to lionofludesch:
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By adam.arca
02nd Aug 2021 12:34

lionofludesch wrote:

The only way this will work is if the clients maintain their own records in real time.

Yes, that's the point I was trying to make: you're just about 100 times more succinct.

At the end of the day, clients need to feel the pain on this one so that they realise how much of a ridiculous over-reach this is from the Revenue. And it seems to me that too many posters solutions involve taking too much pain away from the client and onto themselves. Yes, we all know we'll have to charge more but I'm not sure enough people have yet taken on board how much more that's going to be: I'm not thinking 20% or 50% here but 100%+ increases and just how likely is it that clients will stomach that?

So, bottom line for me, clients either (in a very small minority of cases) pay accountants to handle their bookkeeping in full and feel the pain that way, or they feel the pain by having to absorb a new filing responsibility they previously didn't have. My personal opinion is that accountants who are thinking they can take the client's bookkeeping and run with it as an option are (except in a minority of cases) deluding themselves: that way lies ear ache and pain for the accountant.

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Replying to adam.arca:
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By lordburnside
02nd Aug 2021 12:50

I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .

Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!

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Replying to adam.arca:
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By lordburnside
02nd Aug 2021 12:50

I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .

Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!

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Replying to adam.arca:
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By lordburnside
02nd Aug 2021 12:50

I understand your point of view. I think I will contact my clients and tell them what is going to happen in 2023 and explain how much it might cost them if I do it for them .

Maybe they will say they cant or dont want to and let me do it at extra cost or they may have a go and then decide they want me to do it. Hopefully some will have a go and be successful but I fear thats the minority!

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Replying to adam.arca:
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By bernard michael
02nd Aug 2021 13:52

adam.arca wrote:

lionofludesch wrote:

The only way this will work is if the clients maintain their own records in real time.

Yes, that's the point I was trying to make: you're just about 100 times more succinct.

At the end of the day, clients need to feel the pain on this one so that they realise how much of a ridiculous over-reach this is from the Revenue. And it seems to me that too many posters solutions involve taking too much pain away from the client and onto themselves. Yes, we all know we'll have to charge more but I'm not sure enough people have yet taken on board how much more that's going to be: I'm not thinking 20% or 50% here but 100%+ increases and just how likely is it that clients will stomach that?

So, bottom line for me, clients either (in a very small minority of cases) pay accountants to handle their bookkeeping in full and feel the pain that way, or they feel the pain by having to absorb a new filing responsibility they previously didn't have. My personal opinion is that accountants who are thinking they can take the client's bookkeeping and run with it as an option are (except in a minority of cases) deluding themselves: that way lies ear ache and pain for the accountant.

If the client won't stomach that they can******** off we don't work for nothing

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Replying to bernard michael:
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By adam.arca
02nd Aug 2021 13:59

bernard michael wrote:

If the client won't stomach that they can******** off we don't work for nothing

Well, no, exactly. But at the same time we do require some clients to work with.......

So, I'm trying to steer a middle course between being an even busier fool than normal on the one hand and the risks of hubris on the other.

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Replying to adam.arca:
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By bernard michael
02nd Aug 2021 14:02

adam.arca wrote:

bernard michael wrote:

If the client won't stomach that they can******** off we don't work for nothing

Well, no, exactly. But at the same time we do require some clients to work with.......

So, I'm trying to steer a middle course between being an even busier fool than normal on the one hand and the risks of hubris on the other.


I'm talking about the 50% referred to earlier
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Replying to lionofludesch:
By petersaxton
03rd Aug 2021 21:53

I dont think there will be big problems. We will have to look at the work from a bookkeeping perspective rather than year end perspective. If we use software that is easy to use and insist clients send us bank statements and attach documents to transactions then we should be able to do a month's transactions in a matter of minutes. If a client can't be bothered then they will have to send us the documents and we do the work and charge accordingly.

I'm getting close to retirement so if client's don't play along I'm more than happy to get rid of them.

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By bernard michael
02nd Aug 2021 11:07

Have they announced what the penalties will be for filing late ??
If non existent that's the answer for evening the work load - file late to suit.

However it doesn't get past the major problem of the moaning clients, whose fees will increase substantially , with the only way forward being mass disengagement

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Replying to bernard michael:
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By lionofludesch
02nd Aug 2021 11:18

bernard michael wrote:

Have they announced what the penalties will be for filing late ??

None.

For now.

It's not a long term answer. Easing the transition, perhaps.

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By 0098087
03rd Aug 2021 10:39

Wife is already looking at houses around Inverness. Sell up and make profit on the house and stack shelves in Tesco. I have such contempt for HMRC you would not believe. This is so unnecessary. Will it go ahead considering who are the bedrock of the Tory party. I doubt it...wait till they find out about it.

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Maytuna
By DJKL
03rd Aug 2021 11:35

Escaping from one monster to try to find a friendlier one?

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Replying to 0098087:
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By mumpin
03rd Aug 2021 15:24

Inverness is wild!
Have you ever spent a Saturday night there?
I would prefer Kandahar or Mogadishu.

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By 0098087
03rd Aug 2021 15:56

She's Canadian!

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By 0098087
03rd Aug 2021 15:56

She's Canadian!

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By 0098087
03rd Aug 2021 15:57

She's Canadian!

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By JD
03rd Aug 2021 20:23

The non vat registered once a year clients currently can be completed pretty quickly, using bank csv and the like and so the cost to them generally has been in a fairly low range.

As much as I understand the need for monthly book keeping or similar process, to stand even half a chance of meeting quarterly filing deadlines, I am pretty confident that the average small client will simply not be prepared to stick the additional cost or administrative hassle, until HMRC start creating much more awareness and issuing penalties. Until it hits them in the pocket, they will ignore it, no matter how much we do to prepare them

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By DKB-Sheffield
03rd Aug 2021 22:21

I too have major concerns, primarily because HMRC's stance is that this will be much easier and less time consuming (client view = lower fees). Explain to client that this will actually be much more involved (client view = but it shouldn't cost more). Couple this with the major software houses' advertising suggesting it is all a case of taking a photo and then the return is ready to file (client view = it's a nothing job so fees should equal software license).

Personally I don't subscribe to the view that csv files/ bank feeds and automated matching are a substitute for good solid bookkeeping - nor that the (over) use of them demonstrates due diligence. As for Dext, AutoEntry and HubDoc, they have their place. However, they cause new problems in chasing clients for missing invoices - not to mention client expectation that means they feel they have done most of the work themselves!

The biggest concern however is getting clients onboard. I still have clients who don't comprehend RTI, let alone MTDfV! Now they're faced with MTDfITSA - far too much hand holding! And as for explaining they have to pay extra for cloud software... that's a fight we're destined to lose with some clients!

My personal consideration is that clients will be encouraged to incorporate where possible (and where it us in their best interests). Unfortunately, I may then have to trim my SA client list to avoid deadline overload and ensure I don't lose some of my key limited Co clients.

I know this is defeatist but, there are too many in the market offering to prep and file returns for £30 to £50 and I'm certainly not willing to compete in a race to the bottom. I have enough clients that I don't charge (per previous posts). I'm certainly not willing to put in 5 times the work for less!

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By Helen H
04th Aug 2021 10:40

I discussed this with a landlord client the other day. They said "so this won't cost me any more as it is a quarter of the work each time". My reply was: "If you pay £xx to visit the hairdresser once a year, and then decide to go 4 times a year , do you expect to pay only £xx, after all they will be cutting the same amount of hair over the year?"

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Replying to Helen H:
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By SXGuy
05th Aug 2021 10:16

Ive been waiting for a client to say that to me, so far none have, i think ive explained it well to them that where we charge annually now for for doing the work once, we will have to do it 4 or 5 times each year, and so forgetting everything else i now have to devote 4x or 5x the amount of time each year compared to only once.

They seem to get it, but whether they still do when i quote the additional fees is another matter.

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By SXGuy
05th Aug 2021 10:20

Ive been trying to work out what the additional fee would be, and i cant help but feel at the very least its going to cost double what it does now to implement this, as a bare minimum.

Thinking about what i charge the smallest client for bookkeeping, even if i halve that cost, its still roughly the same cost as what i charge annually. They are going to get a massive shock when they find out the extra fees.

And if some decide to go at it alone, thats fine, hopefully i make up the lost fees with the increased fee from others who just want to wash their hands of it. At least that should in theory free up some more time.

Where all this extra time will come from though i dont know!

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Replying to SXGuy:
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By lordburnside
10th Aug 2021 10:57

I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.

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Replying to SXGuy:
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By lordburnside
10th Aug 2021 10:57

I have read all the replies to my original question about software. I am now thinking that spreadsheets and bridging software are the answer.
The accounting software is too onerous and I think if I am going to have to do the inputting it will take too long.
So I am thinking of just doing basic accounts (no accruals/depreciation) on spreadsheet(s) 4 times a year with adjustments for the 5th upload which has to be right.
I also understand that my VAT clients with non March quarter ends need to upload 9 times a year so that's another thing to sort out before 2023.
So in short I am continuing to produce accounts as normal but 4 times more a year and I will need to also adhere to HMRC requirements re the details they require on VAT rate on sales etc.
The whole thing is an imposition but I hope to be more rich because of it.

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