Member Since: 12th Jun 2015
Director of All Paul Limited, a modern, proactive firm of accountants based in north Leeds that focuses on helping smaller businesses and their owners manage their accounting, business and taxation.
Director All Paul Limited
25th May 2021
I am new in practice in the UK market. Will we automatically receive "Accounts Office reference"?
If you are working in practice and don't understand the difference between registering a limited company and registering for a PAYE scheme, and don't know what an Accounts Office reference is, I would ask if you should even be thinking about being in practice. You have an awful lot to learn!
This a very basic matter. What else do you know / not know if you cannot address this simple matter.
13th May 2021
Another thought is to export the whole audit trail and reimport into an older perpetual version of the software.
Just change PPs and SRs to PA and SA as you cannot import purchase/sales (allocated payments/receipt PP/SR) when importing.
If it's just access you need to the data then this is a quick and easy option.
7th May 2021
Thank you everyone for your comments last week. Most helpful.
I found out from research and speaking to Companies House that you can extend the Accounting Reference Date, using the normal Web Filing facility, by clicking the dropdown, on the right hand side, to select 1 of 3 reasons why you are permitted to extend more than one in 5 years. One of the reasons, as others have mentioned, is to have coterminous year ends with other group companies (parent or subsidiary).
Quite surprisingly, when I asked Companies House, where I enter the parent's or subsidiary's details as proof, they replied "we take it on trust"!
7th May 2021
They sell perpetual Sage 50 software
29th Apr 2021
I use Excel 2010. This works
Click, Insert, Text Box, drag and drop. Change the colour etc
Click the newly created and formatted text box.
Right click it, to select pop-up box.
Select, 'Set as default text box' from the pop-up menu
10th Apr 2021
I've had a similar email from a client. It may be true that his accounts and tax return are not due quite yet.
When he is free to provide information does not mean that I'll be free to accept it and work on it straight away.
Clients ask what the deadline is for accounts and tax return. I tell them but also say that I do not work up to deadlines. That creates me with more pressure than required.
What if all clients gave you their records a week or day before deadlines? Do you drop all other work and service them?
He needs to be told straight what is and what is not acceptable if he wishes to work with you.
16th Mar 2021
Ask the client to request docs from old accountant. They have/had the contract to prepare/file the said docs. They are in a strong position to sue / threaten to sue rather than reply on professional ethics which a court cannot give a judgement on.
16th Mar 2021
If, and only if, I did do this, I'd stick to the facts e.g. income in 2018-19 was £47, 2019-20 was £50, 2020-21 was £48. We are not aware (fact) of any significant changes. It would therefore be fair to assume an estimate of around £48,000. Or we've just had Covid-19, we've not prepare accounts, see accounts, records for xx months. No reliable estimates be made. I've never had a bank / building society come back to me. It is only an estimate and an opinion!
Put lots of disclaimers that only estimated based on historical data and 'past performance is not necessarily an indication of the future' etc etc
Make sure you charge enough.
12th Mar 2021
123sheets. Simple and flexible with deadline and review of clients. https://123sheets.com/
Special rates for accountants.
Regularly being updated and will be ready for ITSA MTD when we get there.
3rd Mar 2021
(Economic) substance over (legal) form.
Forget the legal owner of the land and property and look at the economic substance of the transaction.
Will benefits accrue to the company through the future use of the expenditure. If yes, capitalise and amortise.