We also get our insurance as members of ICPA.
Our turnover much the same as yours, £300k, and we need to have 2.5 x cover so have £750k.
Ours did jump this year but our cover increased from £500k to £750k. Think went up to about £400.
For projections you could use Excel but would recommend something such as Forecast5 or Castaway.
For the narrative best just to do in word.
Then merge both the word document and forecasts into one PDF document.
I would just say "Google how to complete my tax return" and say its all there.
Tell them it might take them a year or so to read through all the guidance but that it will be worth it in the long run.
Personally I wouldnt do it.
From an employers viewpoint (which I am) in all honesty I wouldnt even consider you for any position.
I would have a good think about why you became and teacher in the first place and try to get back to that position.
I know that they say nowadays teaching is a stressful job but if you ask most people they say their job is stressful with their employer/clients asking them to do more and more.
Also think of the benefits you get as a teacher
1. Finish at 3.30/4pm
2. Dont work weekends (ok I know that you do exam marking and class pre work but even if you do 5 - 10 hours every week that would just take you to the standard 35-40 hours per week that most people work as a minimum full time)
3. 14 weeks (give or take) holidays a year plus the inservice days that they seem to have every month or so. So thats 70 days holidays v standard 30.
4. Good final pension
5. Wind down to holidays (my kids are due to finish in a couple of weeks - when I was it school the wind down was the last day when you got to bring games in. Now it seems the wind down starts 3 weeks before).
Then you have to consider you will have to retrain for 3 - 5 years plus all the study so can say bye bye to your social/family life over most of those years and have to take a massive salary cut (expect a starting salary of £9k - £11k as thats what school leavers get and thats who you would be up against). We have school leaver currently in her 2nd year who is currently on £13.5k.
As others have said there is just more and more hurdles getting introduced into our sector and with automation using cloud technology and apps I can see the traditional trainee role being redundant in the next 5 - 10 years. As accountants predict we will be hiring people with different skill sets to those we currently hire eg customer care focused, business development/growth.
I wouldnt say we are big (6 staff and 200 clients).
Excellent piece of software that is highly configurable.
We use it for
1. Job Management
2. Automated email/text chasing to request records
3. Job Scheduling
4. Time Recording
We are continually refining it by amending existing processes and adding new processes.
IRIS openspace is free (even if you dont use IRIS)
CRM systems such as Senta and Accountancy Manager have client portals as part of the subscription.
We use Hellosign. Costs about $15 a month for unlimited documents. Only had one or two problems with clients not being able to use in 5 years but is really each to use so those who struggled must have been clueless.
Are you a member of ICAS?
If so they have engagement letter section as part of GPPM.
Inform Direct for Ltd company accounts and confirmation statements.
Glide for other deadlines eg VAT returns
Cheap - Taxfiler/VT
Mid Range - Absolute/BTC/Taxcalc
Expensive - SAGE/Digita/IRIS
Depends what you are looking for the software to do eg just purely year end accounts/tax returns or are you looking for other things eg practice management, time recording, auto letters, company secretarial etc.
We used to use IRIS but moved last year to Taxcalc (having previously used Taxcalc before). Staff love Taxcalc they find it easier to use and more intuitive that IRIS. We use Taxcalc for all accounts/tax returns/cover letters for accounts and tax returns and we use Glide for job management/timesheet recording/job scheduling/auto email/texts chasing records and Inform Direct for company secretarial.
Staff of 5 and about 200 clients.
For tax returns we are at
10 out for signing
3 at review stage (me holding them up)
25 in to be started
144 not in
If we have 20% filed for end of July (about 40) will be happy with that as we will be well ahead of where we normally are. (Usually only less than 10 filed by July).