Accountant

[rocketmanbkk]

Seeing an accountant tomorrow. I've got to bottom out what's allowable or not as expenses.

I'm also hoping to make a profit this year so will have NI to calculate, maybe tax.

I've also just exchanged contracts on a buy to let flat so need to know what I can put down against that also. It needs a little work, new bathroom floor & flooring, replace bed & bedroom furniture, skim bed walls & ceiling & redec, paint kit ceiling,

so I want to maximise everything I can expense wise.

Plus the accountants fees!!

Any questions I should be asking that maybe I might not know about?

All income goes into bank so that's easy.

Just the outgoing expenses really.

Might ask about contract hire vehicle.

Cheers

 

[lame plumber]

your accountant should be able to answer all the questions you have just asked

 

[rocketmanbkk]

Let's hope so.

 

[lame plumber]

if he cant, change him for another one. Mine takes all my figures and still manages to take off more expenses etc than I do and reduce the bit owing to HMRC

 

[rocketmanbkk]

Nice, that's what I need!

 

[newcastle phill]

Choose wisely. Imho avoid ones that work from home.
A good friend had a very bad experience with 2 unrelated so called accountants who operated like that.

Sorry to tar all with same brush, probably are some honest ones work from home but the mess they left behind he was in serious bother with HMRC

 

[rocketmanbkk]

Thx


Seeing the chain Tax Assist so will see what they say

 

[lame plumber]

as with all things, large organisations tend to offer a great service but dont always achieve it aka BG, a good independent accountant in their own office is my favoured choice, much like a good heating firm

 

[Masood]

Mine is a firm of about 8 - 10 accountants, plus staff. He is not cheap at £100 + VAT per month, but gives detailed advice when requested, has given me - free of charge - a few hours with one of his staff to tutor me in the accounts package I bought, takes care of my annual accounts, payroll and monthly CIS returns, and always manages to find expenses that I hadn't even dreamed of to legally reduce my tax burden.

Worth every penny IMO.

 

[rocketmanbkk]

Had a good chat, £350 per year & £50 per year for my buy to let flat.

Seem nice people

What I've been doing is all on the ball