Member Since: 30th Oct 2012
12th Feb 2020
I spoke to Revolut a few months back and they will not consider non resident directors outside EU.
Also quite a few other internet banks will not consider non resident directors.
12th Feb 2020
We have had some success with opening UK bank accounts for our non resident clients.
The high street banks are so risk averse nowadays especially with the money laundering and US Foreign Account Tax Compliance Act. Barclays and HSBC have been heavily fined for non compliance and there is even a more reluctance to open a bank account where there are non residents as laws get stricter. Banks also find it a administrative burden with non resident directors. I know even with high street banks international bank accounts they are also difficult to open unless you are a very large company also there is a good chance they will not consider you even if you meet their stringent criteria. There is often no explanation on why you have been rejected
I would stay away from HSBC if you are from overseas as my clients have had their bank account close for no reason and they are notorious for closing without any or little notice.
25th Jul 2019
Surely the lawyers will be VAT Registered with the huge hourly fees they normally charge potentially could cross £85K in a couple of months.
I agree the client accounts could create extra work.
I would quote for 2.5K for any filings made in the year, teach them to do their own book-keeping as it would be more expensive for them to use an accountant and charge an hourly rate for tax advice etc.
With new companies they often need hand holding and take up alot of of your time. In the second year tell them that you will review the fees as there should be more structure and maybe one fixed price. If you do the book-keeping I would charge an hourly fee as likely the volume of transactions could go grow quickly and its difficult to know at this stage to know the quantum.
12th Jul 2019
Agree with others don't use your home address for clients as that would be foolish.
Actually when starting out I let clients use my home address but realised it was not a good idea. Apart from risk of debt collectors and HMRC turning up at your door step. While I don't have evidence having many companies registered at your home address could potentially affect credit rating albeit marginally.
I have a tie up with a virtual address office supplier then charge the client 2.5 times the cost. Yes I get the post from the virtual office provider but often not a lot.
27th Jun 2019
4th Jun 2019
Actually, web chat have worked very well for me. I pay £129 a year using Zendesk. £99 per year seems steep.
Some clients are a little shy to make a call and prefer webchat
4th Jun 2019
Which apps do you use ?
3rd Jun 2019
With a corner shop just starting, huge initial outlay and low margins. 12K is going to be a shock for them. Perhaps you are not bothered about getting the deal.
3rd Jun 2019
Yes is confusing and I think clients send the wrong reports.
They should send the Amazon VAT Transactions Report but it would be great if Amazon provided a summary for the period.
29th May 2019
Once IRIS took over everyone knew price raises would come but I thought it might jump from £18 to £25 per month.
I jumped from Keytime to Tax filer but moving is hassle and they know it plus if I jump to another product then what are the chances that IRIS will not buy that company ? IRIS have bit of a monopoly interested to know what % IRIS have share of the market
Will have to live with it and bite my tongue at future unreasonable price increases. Not worth even protesting at the price increases like many organisation nowadays they do not care for their customers and case of just exploiting them as much as they can.