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 Dec 2019
We've gotten much better at it this year (after saying I would every year so far).
Out of the 280 or so that we file, we had around 150 not yet started on 2 January this year, including 30 from an acquisition that we had never touched before.
This year we'll have that down to no more than 80, and of those around 40 will be ready to go or already started on 2nd January, all of which to be shared amongst three staff, so less chasing and hopefully less stress for me.
We just started hounding in August, and again in September and again in November and it seemed to do the trick.
There will always be the 'oh, but I planned to get it ready over Christmas' brigade, but as long as those are what we are left with we're good. I mean we have to do *something* in January!
5th Feb 2019
I had to stop and think about my response to this. I don't respond to many posts, but this 'article' is taking the biscuit.
I run a small firm, which is growing quickly, and by and large our clients are very happy with our service.
The reason they are happy is that we provide them with both what they want and what they need. What they want is to be compliant, to get advice when they need it, to be given advice when they didn't know they needed it, and for us to be available. That's it. For many clients it is what you call 'the sausage factory' basis. That's all they want, that's all they need and they and we are both very happy with that.
Others want a more bespoke service - management accounts, business planning, investment advice remuneration strategies, etc. And we give them that as well. They and we are very happy with that.
Some of our clients use Xero, others Clear Books, Quickbooks etc. We use whatever the client wants to use, and if they don't know we recommend a solution that we think fits their skill set and business needs. Others want to stay on excel, and as long as we can work with that we're fine and don't judge. They and we are very happy with that.
We do have a January rush. We do say that we are busy, but you know what? We always manage. We had thought about cutting many of those clients, but actually the money they collectively bring in is worth it, and they are still getting what they want and while it remains manageable we're just fine with that.
So I don't really understand the point you are making here. Am I lazy because I'm not force feeding add-on advice into very single damned client on the basis of 'they need this because they should be ambitious'. Or is it 'they need this because I need to prove that I'm ambitious'?
Looking at some of the early responses on here it is clear that there are many different shapes and sizes of clients, and ways of running a practice to service those clients. Some of those aren't for me. But I'm certainly not arrogant enough to place value judgements on them because they don't align with my own ambitions and style of delivery - as you have done.
That is my considered response.
My initial response was "Oh, great! Yet another accountant who's a bit bored of doing practice work is trying to make money by telling other accounts that they're doing everything wrong!"
Reflecting on this, I think neither response is wrong.
On the other hand, you could just be trying to be deliberately provocative (otherwise known as "trolling") in order to "generate discussion" and "engage with the community" and other management phrases. In which case, well done, Sir!
18th Sep 2018
Our strategy was picked up from someone on here and is still the best advice I've received:
If you find that your heart sinks every single time that client's number appears on your phone, it's time for them to go. It doesn't matter how much money they bring in, you can use the time and energy saved by bringing newer, better clients in.
26th Sep 2017
This is a great shame. I was looking forward to the opening up of notarial services outside the current two bodies. On the occasions that we require notarial services it's very expensive, quite often overkill - and it's quite hard to get hold of a good local notary at times when it's convenient. All for something that a qualified chartered accountant should be able to provide with adequate training.
3rd Jul 2017
Unless the ACCA applies to regulate these reserved services, then no.
25th May 2017
Interest from banks and other deposit institutions are paid gross. Interest from companies (CT61) and other sources is still paid net of tax.
1st Sep 2016
17th Apr 2016
I was at the annual ICAEW tax conference on Friday and this discrepancy was brought up by the panel.
They said that as written the legislation is inconsistent with the guidance.
The ICAEW had been in touch with HMRC/Treasury about several points coming out of the Budget and received speedy responses on all of them. When they raised this point they received radio silence.
You could proceed based on what the legislation says, but the ICAEW panel said that if they were betting people they'd be placing odds on the legislation being updated to match the guidance - not the other way around (timing issues of the change, notwithstanding).
28th May 2015
It would be interesting to know for each module the functionality that it doesn't cover. Payroll modules from accounting providers are notorious for not having all of the functionality of payroll bureau sites for example.
Also, for the accounts production - does it do all reporting for all kinds of entities, does it cover full IFRS, audited accounts, etc?
I agree having an integrated solution like this looks intriguing.
5th Mar 2015
Payroo has batch processing
@Whinger. Payroo has batch processing, however it's not something I have used so can't comment as to whether or not it works as you would like.