Member Since: 23rd Aug 2000
6th Jul 2020
Why are these people not in jail?
30th Apr 2020
Too small to bill?
Well you clearly didn't prepare, and get approved, a separate engagement letter for this additional service.
You didn't have any claims with variable pay employees.
You didn't get the client to approve your calculations before submitting them and get acknowledgment that they alone were responsible for the accuracy of the claim.
You were also prepared to accept the risk of having to cover the cost of compensating the client in the event that incorrect bank details were entered when submitting the claim.
Too small? Pfft!
23rd Mar 2020
The guidance says it is automatic - see below. Stopping the direct debit may cause problems with refunds in future quarters.
Government guidance: This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
23rd Mar 2020
I don't see why not as they will be included on the RTI returns. One director client has asked if they can increase their salary and claim 80% of the higher amount as they are on the standard low salary/high dividend package. I anticipate that this will not be possible as I would think HMRC would look at recent RTIs to assess salary levels.
9th Mar 2020
If the accountant is correctly named in the report, the practice is based in Gateshead, and has a huge balance sheet deficit. Also reports under FRS102 (probably unnecessarily as it has zero employees), so a few more notes on their accounts at Companies House (which are always filed on deadline day).
A Google search points to a website of a US based business.
All a bit fishy, and I would be surprised if HMRC were not already looking into the firm.
12th Feb 2020
CPD can be done via webinars, so it doesn't even involve leaving your office chair.
11th Feb 2020
I never take out of hours appointments. I just don't need the aggro. If the client values the accountant enough, he will make time to come along in office hours.
As regards cancellations, everyone gets one chance, and no more. One no-show is (just about) OK, but a second one and they need not bother to contact me again as I would refuse to see them.
4th Dec 2019
Just because audit is not as profitable as consultancy, it doesn't mean it is unprofitable!
15th Oct 2019
What about the AML compliance costs; preparing engagement letters; agent registration with HMRC; obtaining transfer info from the old accountant (which will be difficult)?
New clients blaming someone else are, more often than not, complicit in the alleged failures, and will blame you when they mess up again, so I factor in the initial take-on costs when pricing, which I might not do if I perceived a better, longer-term relationship.
On your fee suggestions, b, obviously:
a. There would be no chance of not getting paid, as the new client would pay up front or go elsewhere. Any other arrangement in this scenario would be madness.
b. If it is worth that to the client, then charge that, and get paid first.
c. As noted above, you missed out an awful lot of your time in your calculation.
6th Sep 2019
GDPR and client confidentiality would also prevent us from rebutting some of the spurious claims.