Member Since: 3rd May 2003
29th Jun 2015
So that is 8% CA .
22nd Feb 2013
I just got a letter from CAAT asking for 64-8's for a group of PAYE clients they were unable to update my change of Agent Address.
They all have one thing in common - Authorisation was originally done using the online services facility.
So in future I shall only use 64-8's for PAYE clients and not the online facility.
1st Dec 2012
I finally increased my fees earlier this year (after not doing so for the last 5+ years) and only one client decided she could no longer afford them, so sent me an polite e-mail saying this would be the last year and she would do everything herself. So I changed her company registered address so I no longer received her company correspondence (should have done this years ago!) and sent her the Company House login password. I told her that I would "hand over" all the work I did during the period while I finalised the company year end, so there would not be additional fees for the extra work I would normally do after the company year end. Then at year end, I produced payroll print outs and sent them to her, then started on finalised her year end accounts, personal tax return and sent her my final invoice.
Recently I received an e-mail asking me to continue for one more year, it seems the annual return is now late and she did not like the letters from Company house threatening to strike the company off, and she is too busy running the business to deal with these matters and the fees may not be as high as she thought.
I have a lot of clients who I introduced to a "cloud" based accounting system in an attempt to "not increase fees". The idea was they would input their "accounts". But I have found they don't input the figures correctly, often duplicating transactions or posting them completely wrong, and never reconcile any of the bank accounts. Many now, just send the paperwork to my office and I still have to arrange for a professional book-keeping to input the transactions and reconcile the bank accounts for them. Client only login into the online accounts to answer queries! Some will even provide spreadsheets "to help me". But I often find they duplicate income at year end, and also in beginning of the trading year. They will include outstanding invoices at year with their other income and then include it again the following trading year when it gets paid in the next period! Or they will reissue invoices. So income is duplicated, and also on occassions expenses too. It is only when I (or the book-keeper) reconciles the bank, debtors & creditors (which of course clients never do), that all the duplications are discovered.
9th Nov 2012
That explains it
I took over a client whose previous accountant died, and it seemed to be pretty straight forward sole trader. Until I found out recently he was a partner elsewhere when HMRC questioned why I (and his previous accountant) had not put his partnership income on his return.
The previous accountant, as I had included the money received from the partnership as the clients sole trader income. When I ask the client why he had not told me about the partnership he told me he did not know he was in one! I managed to get hold of the Accountants details who prepared the partnership accounts & return to be told it had been going a few years and that my client had been sent the details of the partnership for approval.
When I questioned my client he said he had never seen anything, and to be honest he didn't understand what he had to do etc etc...... to access the information he had been sent for approval, which I guess was encrypted and he just could not find or figure out how to use the information on how to access it.
I have to admit I now have a word document, which is saved in a dropbox with every single login information I need to access anything now. I have to constantly refer to it. I just think if someone managed to access this document I would be in trouble, but I have so many different types of logins, passwords etc now, and I can't afford to get locked out of any of these accounts. Its a bit of a joke, and I am often tempted to go back to pre-internet facilities.
5th Sep 2012
I prepare a few Resident Managment Company Accounts. I believe they follow the Landlord & Tenant Act 1987. The accounts show cash balances, but the moneys are held in client accounts (and therefore in trust) and not in the name of the RMC, even though they are shown on the balance sheet.. Each year there is no profit, no turnover (only service charge receipts) and the excess receipts against expenditure is returned to the leasees, but because there are transactions/movement on the balance sheet the accounts are not dormant. They are very simular to non-profit accounts, just in the name of a Ltd Company.
It works well, and everyone is happy,, including the solicitors dealing with the sales/purchases..
8th May 2012
The sport is Tennis. (So yes
The sport is Tennis. (So yes it means the Coach may be getting tickets in the draw for wimbledon, but because he never passes any to his members no-one really knows) .
The Coachs club has no access to any facilities except the tennis courts. Our club (I am also hon treasurer) has access to a Pavilion (with Licence bar), changing rooms etc. We also have access to other facilities as we offer participation in other sports.
I have a copy of the coaches clubs constitution (which his members do not), and the members have few if any rights. They have the right to vote at AGMs but as there aren't any. Also after they have been a member for more than 2 years they can be nominated to join the committee - but how they are nominated is up to the management committee (which is basically the coach).
But the coach ignores the rules in the consititution as in 12 years he has only ever called one AGM.
Others have been lobbying his members and many have left and joined us. This has been easy as the our membership fees are a lot less. But now the members also want us to become affilitated to the LTA, who have refused while this other club is affiliated. Our members would like to take part in competitions but can't because it is not affiliated. The Coachs club only does one childrens club coaching seesion, one junior coaching session and one Ladies coaching session (mostly on a pay as go on a cash basis). We can't offer Junior coaching because we cannot find a coach who can do it. We offer Adult coaching but the coach we use also works for 2 other clubs. He does not know any other coaches that are available. The LTA will not help us find a coach because we are not affiliated.
7th May 2012
The coach and I are on different sides, because he is trying to restrict use of sports facilities which are not his to control or restrict the use of. (Long story which I will not get into here).
He is doing as he pleases and says he is doing nothing wrong. I am involved with a different club which is run propertly (Committee, constitution, annual accounts & AGM etc) but we seem unable to do anything to stop him continuing except to encourage people to join "our" club rather than his club. Our members want us to join the national body, but they have so far refused our entry due to there being another club using the same facilities. The coach has recently accused us of promoting our club in direct competition to his club and told us to stop.
The landlord of the sports facilities considers us to be a sports club and the coaches club a business. A business that never prepares accounts. I have gone back to the committee for support, but we are struggling because the coach does not accept he is not running a legitimate club and despite our and others attempts to do so over the last 2+ years he continutes as before and does not tolerate anyone else trying to help correct the situtaion. We are following the rules and he is not.
The national body is not happy with the situation but will not do anything I know he is not following the constitution of his club (if it is legal) but there does not seem to be anyone to enforce it.
The constitution for the club the coach is running is for a non-profit club, which is required to do annual accounts and AGMs. The committee is supposed to consist of 4 different appointments, which he fills 3. But he considers this correct. It even mentions that the bank account should have 2 signatories but infact it only has 1. (the coach). But in 12+ years the coach has not followed the constitution, there does not seem to be any mechanism in place to ensure that this one person does not take advantage of the sitution.
10th Oct 2011
"hearing" what one wants to hear.
I have had this discussion before with clients, and the biggest problem is they don't understand the conditions.
I explain the money can be towards living expenses, books etc and paid out on that basis, of course subject to the limits - IT MUST NOT TO AWARDED TO PAY FEES. My understanding has always been to help support an employee that is on a long term - i.e. at least 12 months "sandwich type" course as normally their income drops due to not working during term time.
It should be awarded and paid directly to the employee.
2nd Aug 2011
Keep it simple
Instead of P/L I provide Service charge statements - which always end with a 0 (zero) balance.
This means any excess of Service Charges received over expenditure is either put into specific reserve funds (e.g. Maintenance reserve) or I refund the excess on the last day of the financial year to the leaseholders. Company house does not get a copy of this.
27th Jul 2011
"You do need to be registered either with a professional body or with the Revenue. Some professional bodies tend to get a bit anal[***] about MLR, so I would recommend registering with the Revenue." - I don't agree because.........
- If you are a member of a professional body you must register with them. Anyone registered with the Revenue and also a member of a professional body will find they are not covered by the revenue registration - who will happily take your money and when they find out, let you know that you still have to register with your professional body! Revenue registration is only for anyone not a member of a ML approved professional body.