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mikey0451

Accountant?

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How beneficial have you found using an accountant. How do you go about starting with an accountant do you book a meeting or over the phone consultation? Do you pay annually, can you ask them for advice when needed? Any advice appreciated. Thank you.

 

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Teaboy    21

Find a local one meet see if you trust get referrals


To get the most out of accountants you need to be honest about everything incoming outgoings where you want to be etc


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Iron Giant    355

For me it was around 10 years into my business I think can't really remember at that time they changed the online self assessment so i phoned hmrc for help on some questions they told me they couldn't help me as the information on their pc's was outdated by a year, I didn't want to be answering questions incorrectly.

Overall benefits of an accountant i don't have the headache of doing my tax return, He  knows exactly what expenses i can put through and the percentages with somethings for the sake of £385 a year i know my accountants are all in order and he has saved me quite a bit of money as by putting extra claimable expenses down such as home as office my expected tax bill has always been less than I expected and i can just phone him up anytime if I have any questions. 

Only had one bad experience when the old accountant who I had used for years told me when I sold my last truck their would be some capital expenses claw back as i was selling within a certain time frame of that big capital been offset he told me it would be around £900 at most, Got a real shock when that turned out to be over £2,000. Thankfully he later sold his firm as he was well into his 60's to a bigger firm with a few offices he stayed on for a good while or might still be their doing a bit but I needless to say I never used him again and my new guy is spot on. 

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mike007    48

If you have employees then your of a size that you want/need an accountant. As a one man band I do not. I do my own self assesment on line using bought software (Andica, but there are other software packages out there).

Just keep all your paperwork expenses etc, remember you have to do this anyway for an accountant.

A mate (another trade) ended up with a hefty bill due to accountants wrong advice, so if you use one, ensure you trust him or her.

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