Member Since: 20th Jun 2016
2nd Jan 2019
I've been attempting to lose my paunch - 6lb gone so far - another 14 to go!
I said to myself to go back go sensible lunches in 2019 following the obligatory Christmas & New Year feasting.
However, I'm going to fail straight away as there's a mound of beef left over from yesterdays roast, and I'm about to stick it with some gravy in a big sandwich. Been thinking about it all morning.
Then tonight there's a bunch of cheese and cold meats left. I can hardly just throw them out.
9th May 2018
I personally don't think the syllabus is overkill - Virtually everything on there is relevant for a small practitioner (unlike say ACA).
The exams are very difficult, but the bite-sized snippets of knowledge within the syllabus that can (hopefully) be remembered aren't too complex .
11th Apr 2018
Once you've done the course, you'll forget most of the finer points quite quickly anyway.
In a small practice you'll only come across half the stuff once in a blue moon anyway, as your time is spent doing such a wide variety of stuff.
The important thing to take away (imo) is an understanding of the general issues, so that you can spot them when they do arise, and know where to look to get the answers.
21st Feb 2018
Are you using a tuition provider for your CTA exams? If so they'll be able to set you a mock exam, so you'll roughly know where you are.
It's not only tax knowledge that you need to learn for these - it's also exam technique.
After I went through the manuals once, I found the best way to study was just to do loads of practice exam questions.
Regardless of whether you pass or fail though, I doubt you'll find swotting up on it a waste of time or money as pretty much everything on the syllabus is relevant.
15th Jan 2018
I never bothered looking in the legislation in the exam hall- although I did take them just in case.
I would have just ended up flapping around looking for stuff, rather than concentrating on answering the question.
4th Dec 2017
The way I understand it, is that you want a practice where you don't actually do any of the work.
That's fair enough - but I think you'd need quite a large fee base to afford yourself that luxury, and it doesn't seem like you're anywhere near that at the moment.
If you have enough time to take on a part-time job, then should you really consider whether you need to be paying staff. You could just do the work yourself.
Also, if you were to take on a part time job, what would your staff think? If I were them I'd be looking for another job for fear of losing mine.
As others have suggested, just knuckle down and do the menial work, like most micro practice owners do.
24th Nov 2017
"chomping at the but"
An unfortunate typo!
20th Sep 2017
Am I correct in my understanding here:
They just whacked in a journal each year, where they expected to obtain tax relief, and yet suffer no tax consequence?
19th Sep 2017
It's all evolutions fault.
18th Sep 2017
I think the only way you'll be able to become more "hands-off" in the short term is by employing a manager in addition to your current member of staff.
I expect however, that it will be difficult to obtain and retain a manager with a knowledge of both accounts and tax. Even if you do get a manager, it may just end up unsettling Q.
It sounds to me like your best bet is to get someone underneath Q (if fee levels allow of course), and let Q develop her skills, and for you to accept you'll have to get your hands dirty for a few more years.