Member Since: 26th Jan 2016
13th Aug 2019
The lack of respect from clients comes from charging too low a fee. It's a huge problem in the UK small firm accounting market. Our equivalents in most large EU countries are charging 2-4 times what we charge. We have completely spoilt clients and with all the technologies, clients just assume we will do it all for them and marketing from Quickbooks, Xero, etc all makes people think that they just need to press a few buttons and it will all happen. We get calls from people sucked in by this and that is exactly their assumption.
16th Nov 2017
A lot has been said and some very good comments, but in the end I can't help but think that the government's biggest mistake is believing that every contractor is inside IR35.
It is not beyond the realms of possibility for someone to setup a consultancy to educate and explain to private companies/businesses how they can ensure their contractors are outside IR35. One just needs to study test cases and advise. The contractor would of course need to compile a file to make sure there is regular documentation of their outside IR35 activities.
Frankly, the government has resorted to looking in the back of the sofa for loose change, as that's all they'll get here.
Industry has got far too used to having a flexible expert contractor base to change. At a time of Brexit, this government have got used to shooting themselves.
13th Feb 2017
MTD is completely unnecessary pain clearly inflicted by the lobbyist cloud software providers. I say this as somebody who runs a firm where 99% of our clients are using cloud software. But unnecessary pain is mood of the moment (a la Brexit).
12th Jan 2017
One of our clients, a contractor, works for one of the large central government departments. They have just told him - not to worry, they may have to put him inside IR35 for technical/process reasons but will just up his rate to offset any loss to him. Truly this is ridiculous.
10th Jan 2017
1st Sep 2016
I completely disagree - it is not justifiable. Most landlords are small players. They have been encouraged directly (by successive governments) and indirectly (rubbish (and getting worse in future) pensions, unreliable stock market, etc) to invest in property. We have many many small landlord clients. The typical profile is middle-class, middle earners and FRUGAL. They are absolutely brilliant savers and forgo luxuries to save. These are the people who put money away to allow them to invest it. They are not millionaires ploughing untold cash reserves into property. They are a group of hard-working people who deserve some return on their saving and investment efforts. Please tell me - in the face of low government pensions, unreliable private pensions, a stock market that a normal person just doesn't understand or trust - what do you recommend to your clients? Where should they put their money so that they can create wealth for themselves and future generations?
In my part of London (west London zone 2/3), there are many developers who wish to build new accommodation and plenty of land ripe for redevelopment- the planning policies make it completely impossible. There are developments where millions have been spent on consultants and planners - yet they are no closer to starting building due to nimbys.
There are an incredible amount of local activists who are against absolutely any development. The same activists complain over their dinner parties about the high house prices (especially when these same people's children find it hard to get on the property ladder) - I see and hear this hypocrisy on a daily basis.
I have many many examples of pathetic local activist groups who want absolutely no new development in these areas of London - despite there being an urgent unmet requirement. I have been to many local residents meetings and the amount of energy, time and money they spend on slowing down developments is astonishing. My local residents group lobbies so hard and has slowed down potentially 1000s of new units going up.
Small landlords are the entrepreneurs of the property market and they deserve some fairness. They are not ruthless multi-millionaire megalomaniacs. My experience is that they are people who want some financial freedom from wage slavery and try hard to get it. I admire these people. We shouldn't be punishing these people and making them poorer - in the same way other small business owners shouldn't be.
The government can do a lot more to loosen the planning policies to increase supply of property.
31st Aug 2016
As usual small landlords are being blamed for absolutely everything.
11th Apr 2016
If this is truly the case, it
At Colin Wain, if this is truly the case, it's shocking.
8th Apr 2016
Interesting, some thoughts/questions:
1.) Activity - will the legislation define this to not include employment?
2.) Husband & Wife both running similar companies. Does this mean, they will never be able to treat windup distributions as capital distributions? This seems unfair. Even more unfair if they are not H&W but otherwise connected individuals.
21st Mar 2016
I doubt very much those look-through proposals will ever happen. It's just some stupidity from the OTS chief Angela Knight, who has only ever worked for big organisations. She's clearly lost the plot and I see this going nowhere.