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

 

[lame plumber]

s'bout right if you do all the day to day records and they just do the fiddly bits 🙂

 

[REDSAW]

2+2=0 ?

 

[rocketmanbkk]

2+2=0 ?

-1!!

 

[REDSAW]

any tax = minus is good.lol

 

[lame plumber]

got to pay some tax to keep them off your back

 

[Millsy 82]

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

My dad/ accountant works from home and he has been unofficially recommended to a few people who have had dodgy accountants and been investigated and it was the local inspector who recommended him.

That's a bit like saying don't trust a plumber who drives a ford.

 

[lame plumber]

My dad/ accountant works from home and he has been unofficially recommended to a few people who have had dodgy accountants and been investigated and it was the local inspector who recommended him.

That's a bit like saying don't trust a plumber who drives a ford.

definitely dont trust Ford drivers 🙂

 

[newcastle phill]

As i said. Not every one and I was loathed to say it and knew someone would chime in with a different experience. But he had 2 in a row. One no contact for ages after repeatedly trying, to find she was in prison for fraud. And the other deliberately lost half his years invoicing etc after a dispute he had over late submissions and fines and threatening to look elsewhere - and swore blind he didnt give her them - so a liar too.

No end of crap did he have because of 2 idiots working from home. Probably as qualified as my sheepdog.

He sorted now and is with a small place operating from a shop type premises with 6 to 10 people working there