fixing everything that doesn't work. Designing products for users -not suppliers, kind, gentle, caring, generous to a fault, ....despite being an accountant
I feel for you! This quest has defeated me too. I'm saving for £1m so I can get a package written, and make millions.
I've a model in excel I created which does pl, cashflow and bs, but of course it's fragile as any formula can get broken anytime, especially if I allow a serf near it.
PS Liveplan can't do a UK balance sheet for some bizarre reason, Planguru is not much better etc. No idea why there isn't a UK-based package available.
abelljms wrote:
And that's on top of asking your clients permission to take their data outside uk jurisdiction
Good point. You might want to check on your GDPR obligations. Even if you're wholly paperless, some personal data will end up outside UK/EU.
Many people don't realize (Barclays/HSBC etc.) that if someone is looking at a telly in an overseas jurisdiction, YOUR data IS IN that jurisdiction. It doesn't matter that the Server the serf is accessing to answer your question is in London. If the data was going to be hacked, they're definitely going to hack it off the back of a PC with a couple of bent wires jammed in a socket, not in London etc.
IF you tell most webshites you're sitting in the middle of Lilongwe High Street doing tax returns, or a uk bank works out you're logging on East of Dover, they will block you all the time - it will be a fritemare. You could of course 'lie' and use a vpn to pretend you're in Surbiton when logging on, even that doesn't always outwit bank software.
And that's on top of asking your clients permission to take their data outside uk jurisdiction, and getting the permission of your Institute to do this, etc......zz
of course they can. They are all vermin, and hate their customers. NatWest did it to me 15 years ago, and HSBC 10 years ago. In both cases THEY denied it 100% until it was clear to everyone that there was no other possible explanation. Obviously, they refuse to meet you or discuss it with you.
The Banking code doesn't cover such assaults on ltd accounts, only personal ones. they don't have to give you any reason or explanation. HSBC even closed my daughters business account just because she had similar details to me.
Anyway what you learn is a] always keep accounts at more than one bank. b] don't say a dickeybird to your new bank otherwise they too will refuse you - it's a Masons Cartel. And remember the links, so RBS = NatWest etc.
IF the bank knows they will refuse to change the name of the account.
You could continue to use the LLP bank account through the LLP, but this will mean continuing the existence of the llp in perpetuity.
Otherwise just open a new account for the ltd, using the same bank as the existing one - it will still be a massive ball-ache as your (foreign-origin) client anticipates.
Using an account in a directors name is unwise if this is a proper trader, and exposes the individual to personal liability risk were anything to go wrong in future.
My answers
So where do we get clearview?
I feel for you! This quest has defeated me too. I'm saving for £1m so I can get a package written, and make millions.
I've a model in excel I created which does pl, cashflow and bs, but of course it's fragile as any formula can get broken anytime, especially if I allow a serf near it.
PS Liveplan can't do a UK balance sheet for some bizarre reason, Planguru is not much better etc. No idea why there isn't a UK-based package available.
hmm, but the important point is whether ICAEW fines are legally enforceable on the member?
Many people don't realize (Barclays/HSBC etc.) that if someone is looking at a telly in an overseas jurisdiction, YOUR data IS IN that jurisdiction. It doesn't matter that the Server the serf is accessing to answer your question is in London. If the data was going to be hacked, they're definitely going to hack it off the back of a PC with a couple of bent wires jammed in a socket, not in London etc.
IF you tell most webshites you're sitting in the middle of Lilongwe High Street doing tax returns, or a uk bank works out you're logging on East of Dover, they will block you all the time - it will be a fritemare. You could of course 'lie' and use a vpn to pretend you're in Surbiton when logging on, even that doesn't always outwit bank software.
And that's on top of asking your clients permission to take their data outside uk jurisdiction, and getting the permission of your Institute to do this, etc......zz
Faaaantastico, this is the only place I've found a definitive answer, and link to the authority
Thanks a zillion Venezuelan corunas.
Certainly don't waste money on lawyers, what can they possibly achieve -except transference of a large amount of your cash to the lawyers?
of course they can. They are all vermin, and hate their customers. NatWest did it to me 15 years ago, and HSBC 10 years ago. In both cases THEY denied it 100% until it was clear to everyone that there was no other possible explanation. Obviously, they refuse to meet you or discuss it with you.
The Banking code doesn't cover such assaults on ltd accounts, only personal ones. they don't have to give you any reason or explanation. HSBC even closed my daughters business account just because she had similar details to me.
Anyway what you learn is a] always keep accounts at more than one bank. b] don't say a dickeybird to your new bank otherwise they too will refuse you - it's a Masons Cartel. And remember the links, so RBS = NatWest etc.
IF the bank knows they will refuse to change the name of the account.
You could continue to use the LLP bank account through the LLP, but this will mean continuing the existence of the llp in perpetuity.
Otherwise just open a new account for the ltd, using the same bank as the existing one - it will still be a massive ball-ache as your (foreign-origin) client anticipates.
Using an account in a directors name is unwise if this is a proper trader, and exposes the individual to personal liability risk were anything to go wrong in future.
it's in reality a hard topic, no one wants to disgorge the info onslime.