Member Since: 22nd Sep 2017
26th Aug 2020
Client asked HSBC for a loan. Nothing was heard for ages then chased. Eventually HSBC said that they have no idea where the application is in their system, and no idea when the loan would be paid. HSBC advised to start the process from scratch again. Client gave up, went to Co-op instead.
Given that HSBC are in the normal business of lending money, how they managed to be this incompetent is beyond me. Presumably the Chinese government is worried about HSBC's funding ratio...
18th Aug 2020
I've worked in industry but now have my own practice. There is a lot of repetition of work in both areas. In practice you know a little about a lot of clients where in industry you know a lot about just one. Ultimately it depends what you enjoy doing - in industry I had a lovely complicated forecasting spreadsheet that calculated detailed p&l, balance sheet, cash flow, etc for 5 years. In practice clients don't look beyond next year. You will engage with a lot more people in practice whereas in industry you are mainly reporting to your line manager.
At least now I never have to go attend another company presentation or go on a team building away day.
27th Jul 2020
Went onto the Money Advice Service website today as I was reporting the issue to my institute, and amazingly the advice has now changed to:
"If you’re looking at hiring an account, make sure they are a member of a relevant trade body. Such as the Institute of Financial Accountants (IFA) or the Institute of Chartered Accountants in England and Wales (ICAEW).
Accountants might also be registered with the Financial Conduct Authority (FCA). However, some accountants are exempt and are not required to be authorised by the FCA when engaged in some regulated activities."
So the advice has been improved - thank you to I assume an eagle-eyed person at ICAEW! However it's still a bit clunky, especially if you want to hire an account...
24th Jul 2020
I'm now singing the words (I have a client who sells chocolate chip cookie dough's in a dessert parlour.) to the Human League's "Don't You Want Me" - earworm alert!
15th Jul 2020
Back when I had to deal with mileage claims, it was only the accountants who bothered claiming the 0.1's anyway.
Everybody else gave us round numbers!
18th Jun 2020
PDF Mate does it for free but it's a bit clunky
15th Jun 2020
Is the club a CASC? In which case the tax element may be irrelevant.
11th Jun 2020
100Pc Vat Free Bridge is free (or small donation if you want to) and straightforward. Much easier than Vital Tax and Avalara.
Does require some knowledge of Excel and for Excel to be opened, but for a 2 minute job each quarter per client can't be faulted.
11th Jun 2020
Taxcalc have been promoting their cloud offering over the last couple of weeks. Basic practice management built in, add-ons available at a cost.
8th Jun 2020
I've been to the High Court at the Old Bailey. Not an enjoyable experience...