accounts????

[tactile]

im just wondering if i need an accountant for my books.
its my first tax year coming up as a self employed soul trader, and ive no idea whats in store!

i keep my accounts in good order
all the reciepts for each job stapled with the duplicate customer invoice
and each job put on a spread sheet minus materials, advertising etc

ive no idea what a tax return form looks like or what questions im going to be asked?
will i need an accountant? or not?

 

[White Room]

I've had an accountant since I started back in 1981

 

[grumpygrouter]

im just wondering if i need an accountant for my books.
its my first tax year coming up as a self employed soul trader, and ive no idea whats in store!

i keep my accounts in good order
all the reciepts for each job stapled with the duplicate customer invoice
and each job put on a spread sheet minus materials, advertising etc

ive no idea what a tax return form looks like or what questions im going to be asked?
will i need an accountant? or not?

If you have no idea what you need to do, I would certainly recommend getting assistance from a "capable" person.

If you engage an accountant, try to avoid big practices as they are very expensive. Look around and speak to a number of prospective advisors before coming to a decision.

Grumpy

 

[tactile]

how much do accountants charge?
i know its gonna depend on which part of the country
and how well you keep your books etc

but just a ball park figure?

 

[grumpygrouter]

Anywhere from £150 upwards as a guide!

Grumpy

 

[LEWIS]

Hi

I know its early days for you and your business (1st year tax etc) but a decent accountant should be able to offer you several things.
End of year accounts
advice on VAT, Tax savings - computers, vehicle, advertising etc
investments, invoicing tips and be at the end of the phone when you need them.

My main advice is to agree an up front figure for all agreed work, you should not be expected to pay for them telling you in a letter that they will be coming to see you next week and giving you a bill for the letter.

Ask if you can pay a fixed amount per month?

Remember though that against any outlay you want a return for your investment, they should save you money and therefore what your paying them comes from those savings.

 

[dptiling]

my accountants about 300 quid a year and worth every penny.
apart from head ache of the book work , they know how to and what to claim back for you.
----
that self assement book comes in the thickness of the phone book.

 

[lm tiles]

£180 fills in tax returns claims for everything best money you can spend . no worries just let him have all your receipts for everything .