Member Since: 6th Nov 2013
22nd Aug 2019
Thanks for your reply, other assets were not split equally. Savings were distributed under a separate split, and some assets were specified to a sibling. It was only the land that was left in equal shares between the three.
22nd Nov 2018
It would be interesting to know why you changed accountants? Clearly your previous accountant has made mistakes (that on it's own is good reason enough), but they have come back with what seems to be universally agreed is the most pragmatic solution.
Have you considered asking your previous accountant for a recommendation for a new local accountant? Whilst it may seem slightly backwards, I regularly refer and receive referalls from local practices where a client has come in and would be better suited elsewhere.
13th Jun 2018
Presumably if the director had died prior to the year end he was by default no longer a director? As such I'd question the treatment of it as a director's loan for taxation purposes. There are certainly more experienced users who may comment, but this would be my first line of enquiry. What happens with the resulting debtor presumably lies with the remaining director.
16th May 2018
9th Mar 2018
Have you pointed out to said client that increasing your charges to him would reduce his tax bill? Sometimes I'm sure that certain clients would see some kind of backhanded logic and agree!
6th Mar 2018
To be fair to Mr Pipe, he doesn't state how many clients the accountant had before and after his "assistance". If I removed all but a couple of my clients I could achieve the same average. I'd have a lot less clients and turnover though!
Either way I must be on the same contact list as you, as I've had exactly the same emails. He's even shortened my name in one, as if we are some kind of long lost pals.
25th Jan 2016
I don't have kids....
so it's difficult for me to say whether I'd want them to work for me. My wife tried working for me once, she was the only person to leave without notice and on bad terms (when she got another job!), so I probably wouldn't.
Ignore the relationships of the applicant. Meet them for a chat, and then decide. I doubt anyone would admit to employing someone they didn't trust and this should be no different. Presumably it's been easy to work out who their parents are, and don't be afraid to ask the question of why they've applied for you.
Incidentally, a friend of mine's dad was a well reputed accountant. My friend didn't want to work for him. He was also an older parent and would have (and did) sell the practice before his son could have had any senior role. Strangely, he will soon be starting at his dad's firm ten years after he sold it!
20th Jan 2016
The main pitfall is....
The main pitfall is that dividends have to be declared out of the profit of the business, if there aren't any how can dividends be declared?
4th Jan 2016
HMRC Agent Portal
Have you got the client authorised online? If so on the client screen there is a link "Tax Return Options", from there you'll see a second link to "Information to help complete your tax return" and the state pension amount for the year is shown.
EDIT: Post crossed with Stepurhan!
29th Oct 2015
We got ours last week
They're fantastic, we've got six in total. A week in and we should have done it three years ago! Recommend Force 36 if your in the Essex / Cambridgeshire area.