Hello folks. It was a busy and stressful week. There were a variety of issues that I had to address.
As I mentioned in Any Answers, FT Practice Ltd, has an office lease of 999 years. It is a retail unit.
Until recently, I had no idea how much control the Freeholder has and how difficult Freeholder can be.
She refused permission for us to install an air conditioner (AC). I needed her okay since a small unit would be placed on the outside back wall.
I even offered to put in writing that I will take full liability and all the risks should anything go wrong with the outside unit. It was still a firm NO from her.
She also refused to change the door numbering since the flat and our office have the same door number!
I intended to buy the freehold as an investment and for me to have control. It includes our office and two flats. The quoted price was twice above the valuation the agent gave me. The purchase would not be a good investment at the current price.
Unfortunately, I am stuck with a Freeholder who is not allowing me AC. Warmer summers will be hell in the all-glass frontage office. Fans don't do it.
I am sure you know, after building a client base, other headaches for a small practice owner are staff and IT. I had to address IT.
Q's desktop is now outdated and slow. The new desktop, to replace Q's computer, was delivered over the week. Sorting this out took me nearly a day.
Once I installed most of the software, I noticed the new desktop was slow. I spoke to the supplier and decided to return it. Time was taken up in resetting the desktop and packing it up for the return.
Tax investigation work
I completed our part on a full enquiry tax investigation on a landlord client. We are awaiting further information from a client before sending all the information to HMRC.
By their nature investigations cannot be planned into the annual cycle. They take up my time and steal time from activities that add value to the practice.
I recently came across iOS app - Blinkist for non-fiction books. I love listening to self-help/management bite-sized books.
Blogs about my week in a boutique practice. My independent channel: https://accountantblog.co.uk/