Member Since: 10th Jul 2013
I'm a Chartered Accountant with over two decades of experience in practice and in industry.
Having trained at a Big 6 (then 5, then 4) firm in Australia, I trained in tax, audit and consulting and then moved into industry in the financial services sector, which brought me to the UK in early 2005.
After several stints in senior finance positions at UK banks, and being the CFO for a City of London equities exchange for 6 years, I set up my own practice in early 2014.
My client list includes mainly finance and technology start ups, but also includes fashion companies, film editors and retail and property businesses.
17th Sep 2020
It depends on how many artists there are and their appetite for admin. My husband did this before xmas last year, with just two of them. They each already ran their own businesses. They each kept the sales of their own products, and both contributed to the running of the shop for the 5 weeks it ran for. They then each accounted for the results of that project in their own businesses.
If the artists are sharing the revenues, regardless of who originally made the product, then a simple partnership could work. They could also agree upfront about how profits are to be split.
At this stage a limited company would probably be overkill, and certainly not a CIC. In 7 years of running my practice, I have yet to see a situation where a CIC did something better than a limited company could do, enough to make up for its restrictions.
In any case the proceeds to charity should be able to be a charge against income provided it's a registered charity.
3rd Sep 2020
I've found that the payroll solutions attached to the cloud accountancy providers are limited in functionality. Perfectly fine for companies with standard employees, and not too many of them. If you run a payroll bureau, you will find that QB Payroll will not be up to scratch.
I've used Payroo, but this was prior to auto enrolment. It was certainly cheap, and it did the job just fine.
Looking at it from a slightly different angle, if you are looking to be able to do your work from anywhere or from multiple devices, you could consider at a hosted desktop environment - such as from Hosted Desktop UK. They host all your desktop applications, and network files and you access it via Remote Desktop from any computer or tablet you choose. That way you wouldn't be limiting yourself to just cloud solutions.
3rd Sep 2020
This is correct. See section 12 and 12.2 of VAT Notice 741A.
12th Aug 2020
This is my third acquisition in 6 years, and even from the one 6 years ago they won't do it, due to privacy concerns. The clients have to explicitly give permission for us to access their private information.
Would be so much easier if they could. We've got 450+ SA records to transfer!
28th Jul 2020
30th Jun 2020
I've just had one client, who is normally lovely, tell me to my face that he thinks he's now overpaying for our service, given that he doesn't have much money coming in, and 'everything is on sage and nicely done so it should be a doddle so why has it taken 4 weeks?'. Ignoring the furlough requests we have been making for his 6 staff, processing the payroll on time, and that I answered an edge case VAT query for him last week, and showed him an article that explained it, and I translated the tax part into easy to understand English for him. He said that wasn't proper advice as he found the same article on google.
Of course, we have other clients, the logistics of having not many staff in the office make work slower, and many of our clients have needed our help navigating the various schemes on offer. They forget that - or don't appreciate it, or just don't care.
I have to say that I got a bit snappy with him, and told him that if he could get better service elsewhere for a cheaper price, then he's welcome to move on - but I would not accept his criticism. I understand he's coming from a position of stress and frustration. Patience with clients who are doing it rough is a necessity, but you shouldn't bite the hand that feeds, right?
I don't have any advice. I just felt like ranting, as well.
23rd Jun 2020
If what you are asking is 'can the employer force the employee to take annual leave as part of their notice period' then they would have to check the contract of employment.
Assuming that they can, the government guidance is that taking annual leave does not break furlough. So in theory the employer can recoup it via a claim, subject to the 80% or £2,500 limits.
26th May 2020
We ran a community online festival here in the South West. This was to replace the weekend long festival that we usually hold on the same weekend.
Most of the sessions were only for half an hour or 45 minutes and were by and large held on Zoom.
Our normal festival website showed the schedule, including the zoom meeting details for people to schedule in and log on to.
Of the 10 or so events, two got 'hacked' and showed either [***] or [***] propaganda or both. We always had a host looking after the meeting and in both circumstances managed to kick them out of the session quite quickly.
But we learned a few things:
1. The sessions that were targeted were aimed at children (a bedtime story session, and mum & baby yoga). The other sessions didn't get hassled.
2. Advertising the meeting details publicly meant that the details could be gleaned by bots trawling the internet for such things.
3. It was likely that the 'hackers' weren't people but were bots programmed to be a nuisance.
4. Setting up the sessions so that people had to wait to be let in prevented further blushes that day.
Zoom is great, but it's not the best tool for all circumstances. If you are just broadcasting, there are better tools, such as YouTube. If you want audience participation, then Zoom is great - but you have to choose between a secure and known audience, or taking the chance on bad people joining your session.
21st May 2020
In this example there are two different classes of share, but 'both rank equally', implying that directors do not have the right to declare dividends for one class to the exclusion of the other class. In this case it will effectively be the same as a dividend waiver.
If the rights attached to the shares are such that the directors can declare dividends of different amounts to the exclusion of the other classes, then the rights are not 'equal', and the dividend waiver process isn't used.
15th May 2020
I like that approach. But these are tax refunds for clients who are in need, so whilst it might be satisfying to push the ball into HMRC's court, it's not really helpful to my clients.