Member Since: 15th Nov 1998
24th Sep 2020
Why not just say: "single source of data"?
22nd Jun 2020
Very good advice, Mark.
I remember when I started in audit. At the end of the audit I would always say: "If I knew at the start what I know now the audit would have been a lot easier!" Of course it would. Experience helps a lot.
You could have improved with more planning but you didnt have enough experience to plan effectively.
You took on clients that turned out to be bad but you wouldn't have been so good at recognising bad clients without taking them on in the first place!
I've got a bad review on Google. This is a potential client who phoned me up and was making unreasonable requests. Not incredibly unreasonable but just enough to give me pause for thought. I said I'd meet him the next day but overnight I had decided I wasn't interested. I phoned him first thing in the morning and suggested he should keep on looking for an accountant. He went crazy! The same day I found out he'd left a "review" on Google about me. Remember, this is a guy I'd never met and never done any work for.
It's always useful to listen to what Mark says, even after accumulating a lot of experience. I just think that if Mark gave me that advice when I had just started I would be able to convert it into effective results.
4th Dec 2019
Resign from audit work?
Wouldn't it make more sense to spin off audit work along with the relevant partners and staff?
26th Apr 2018
I checked my "state pension"
I entered some information as requested and got a figure back
when I got paid my pension it was less
when I phoned up and asked they said that the figure quoted was the total of state pension and private pension
I asked why they gave the wrong information
and I was told that the calculation was nothing to do with them
7th Jul 2017
you mean the thing that is supposed not to be needed?
5th May 2017
You are in the right.
Stick to your guns.
It will take a while to get what you want but it will be worth it. You could either use short print runs or use temporary branding. I still use Word templates - after living at the same place over 17 years.
31st Mar 2017
The correct analogy isn't a car or a faster car
it is walking or driving
The guy who said that tax should be simple enough not to need an accountant: that's only the case if your affairs are very simple. Usually you've messed up before you realise you needed an accountant.
27th Mar 2017
So an accountant does everything right but HMRC rejects the submission? Surely that is HMRCs fault. The accountant would just say they had done everything correctly.
I submitted some paper accounts to Companies House and they blindly rejected the accounts because of a change in the law. They didn't take into account that the period was for nine months and so was correct. Companies House accepted my point and asked me to send the accounts back. I told Companies House that I had submitted the accounts to Companies House so they had nothing to complain about and I had a valid defence if they prosecuted. Unfortunately, despite my client being supportive, I didn't feel it was fair to drag him into the issue. It's amazing how these people act like they are above the law!
27th Mar 2017
How can third party software be affected by this problem?
I accept that there's a problem if HMRC will reject the submission from third party software if there's a certain combination of income but that seems madness.
Can't 3rd party software just calculate the tax correctly?
27th Mar 2017
Why can't taxpayers submit information using HMRC software and just complain to HMRC that their calculations are wrong?
Isn't that better than paper submission?
I assume 3rd party software has correct calculations but can HMRC calculate the tax correctly?