Absolutely agree with this. Said no more times in the last year than the previous 30 + and in last 6 months been turning some new work away. If it does not feel straight forward or just feels too much hand holding say no very quickly know.
My plan now is to avoid as many clients as possible having to do this legally, so partnerships, limited companies could be far more cost effective. There are a few we cannot help that way in which case, we find a plan. Xero, quick books etc., won’t be the solution. Don’t think HMRC people get it.
Sole traders, don’t do Bookeeping that well. They struggle once a year. Yes you change a few mindsets, but ultimately they will want accountants to do this and happy to pay more. However, most firms I know are overloaded with work, especially at the small firms, struggling to get staff and pricing is an issue. So in fairy land this works, in the real world accountants will retire, reduce number of clients and like us at moment cherrypicking our new clients.
Think we are of the same mindset. Think the small rentals certainly the ones we have one, could be easily managed with changing the clients mindset. The sole traders, with a lot of transactions will be most concerning. Already cherrypicking clients now, suspect many practices are doing the same
I tend to keep away from this rubbish, but thinking we should consider more limited companies for clients or will they eventually have quarterly returns?
I think it is the right decision, even though it is at the 11th hour so to speak.
We have around 80 to file in 4 days, half of which are out for approval. Being a small practice of 7 of us, when 2 staff ring in ill this morning it relieve a lot of pressures. Added with family pressures that occurred only today it is the right decision for me.
Some of the issues are our fault, some clients fault and many failure of the system either HMRC not replying to letters or banks, solicitors or similar far slower this year due to working from home.
Last year was far worse, that was definitely poor management by us. This year learnt a lot of lessons. I could see us having to file some estimated tax returns more than normal to meet the deadline. I appreciate some accountants don’t believe in filing estimated tax returns, but even HMRC went on local radio and recommended this was the route even if clients did not have everything available.
Can’t remember when I last telephone HMRC until yesterday and today. Only a 35 minute wait yesterday and the adviser was great. Agents line as well. Today was different. Got hung up on when asked to deal with a second client and the second call the adviser was average in terms of knowledge. All I wanted was two UTRs, that we wrote about 2 months ago. Ended up registering a complaint apparently a team leader is to go call me in two days! Interesting to see how it goes.
As I have advised one client recently there is plenty of work out there - more than we cope with at present. Please explain what incentive is there to open your file over another client? This is true situation and we got paid fairly quickly. Know your client is key and others we will happily give six months extended credit as always been good payers.
My answers
How about just about improvement of the current system, that does work reasonably well.
Absolutely agree with this. Said no more times in the last year than the previous 30 + and in last 6 months been turning some new work away. If it does not feel straight forward or just feels too much hand holding say no very quickly know.
My plan now is to avoid as many clients as possible having to do this legally, so partnerships, limited companies could be far more cost effective. There are a few we cannot help that way in which case, we find a plan. Xero, quick books etc., won’t be the solution. Don’t think HMRC people get it.
Sole traders, don’t do Bookeeping that well. They struggle once a year. Yes you change a few mindsets, but ultimately they will want accountants to do this and happy to pay more. However, most firms I know are overloaded with work, especially at the small firms, struggling to get staff and pricing is an issue. So in fairy land this works, in the real world accountants will retire, reduce number of clients and like us at moment cherrypicking our new clients.
Think we are of the same mindset. Think the small rentals certainly the ones we have one, could be easily managed with changing the clients mindset. The sole traders, with a lot of transactions will be most concerning. Already cherrypicking clients now, suspect many practices are doing the same
I tend to keep away from this rubbish, but thinking we should consider more limited companies for clients or will they eventually have quarterly returns?
Could have wrote this myself! Service is worse I have seen in the 30 years of my career.
I think it is the right decision, even though it is at the 11th hour so to speak.
We have around 80 to file in 4 days, half of which are out for approval. Being a small practice of 7 of us, when 2 staff ring in ill this morning it relieve a lot of pressures. Added with family pressures that occurred only today it is the right decision for me.
Some of the issues are our fault, some clients fault and many failure of the system either HMRC not replying to letters or banks, solicitors or similar far slower this year due to working from home.
Last year was far worse, that was definitely poor management by us. This year learnt a lot of lessons. I could see us having to file some estimated tax returns more than normal to meet the deadline. I appreciate some accountants don’t believe in filing estimated tax returns, but even HMRC went on local radio and recommended this was the route even if clients did not have everything available.
So I for one, happy with this decision.
Can’t remember when I last telephone HMRC until yesterday and today. Only a 35 minute wait yesterday and the adviser was great. Agents line as well. Today was different. Got hung up on when asked to deal with a second client and the second call the adviser was average in terms of knowledge. All I wanted was two UTRs, that we wrote about 2 months ago. Ended up registering a complaint apparently a team leader is to go call me in two days! Interesting to see how it goes.
As I have advised one client recently there is plenty of work out there - more than we cope with at present. Please explain what incentive is there to open your file over another client? This is true situation and we got paid fairly quickly. Know your client is key and others we will happily give six months extended credit as always been good payers.