Hi all
Not really wanting to go over old ground ref the drama with Think Accounting Lincoln
But am now doing my own account paperwork, invoicing, vat, paye etc etc
I am finding it hard going and am sure I need the help of an accountant
Can anyone recommend one preferably in Yorkshire
and one that understands how a ltd company driver operates,
also a rough idea on the fees I can expect
Thanks
Simon
Try nova Accounting. I use them. They take 3% from ur wages.
Yorkshire is a big county, so can you be a little more specific
Mine is around 1/2 mile from the stockyard. But they don’t /won’t do my VAT which is fine by me as it only takes 5 mins online to do & save me more £’s. Also the way I’ve setup my spread sheet makes this even more easy.
Is it an accountant or a bookkeeper you need? As it sound like the latter, but it`s far too easy to fall back and follow a similar line of how you used Think to do your bookkeeping, albeit now you use someone else to do the bookkeeping and invoicing, something you should be able to do yourself.
You may also do yourself a favour and attending a few of those FOC seminars that HMRC run inc “becoming a director” “NI” & " how VAT works" and a few others. That way you can minimise the time (and cost) of using the accountant/bookkeeper.
Your looking at between £500-£650 per year for a certified accountant to do your end of year accounts. For that they should do the regular nil NI submissions, personal tax return and other minor items as well.
thanks peirre, that’s nice and local
am just off the A1 on the A635 near the wind turbines at Mar
trying to do as much as I can myself
done the vat returns that was easy enough, downloaded the paye software
and I want to do as much as the grey matter can cope with
but have not got a clue with corporation tax, year end accounts, generating a P60 and the other bits
would you recommend your accountant does he look after many drivers
thanks
Simon
You do seem to be demonstrating an element of ignorance / nievity of how the Ltd Co works regarding to how you pay yourself, this is possibly down to how the MSC (think etc) setup works and you are following that model. You’'re not an employee of your company, you are or should be running it as a director and drawing no wages, only dividends
sbhep:
thanks peirre, that’s nice and localam just off the A1 on the A635 near the wind turbines at Mar
I’d look for someone within spitting distance of home. Theres nothing worse than being miles from the accountant when you need to speak to or see them for minor issues. The guy I use works from home and usually deals with bigger players & he doesn't advertise. He's not even listed on Google, it's only that he's a friend of a friend that I found out about him. He plays it straight and won't cook the books.Hes an accountant 1st and for most and has done my end of year accounts for many years. Whether he looks after several drivers I dont know as he usually deals with bigger players , so I dont know If I should recommend. He close enough for to me, but Im also able to scan/email any documents I need to pass to him (as Pdfs) and get a response almost 7 days a week. I only see him twice a year, once to drop off the books, bank statements, etc, and Ill email him the spread sheet etc before hand. Then once hes done the work hell send me 2 copies of the accounts and my bill. Then Ill arrange my 2nd visit of the year to pay him and return 1 (signed) copy of my accounts for him to file with HMRC.
sbhep:
done the vat returns that was easy enough, downloaded the paye softwareand I want to do as much as the grey matter can cope with
but have not got a clue with corporation tax, year end accounts, generating a P60 and the other bits
Simon
Don’t bother with PAYE, if you don’t pay yourself a high enough wage you won’t touch any threshold for PAYE & NI , negating the need for P60 , software etc. the balance of monies to you will be paid via a dividend.
a simplified spreadsheet, along with receipts and bank statements, will suffice to show the accountant the info required. The accountant will deal with end of year accounts and figuring out how much CT is due. You will have to (unless you pay the accountant to do it) setup the D/debit payment online to HMRC for the CT and VaT due.
thanks peirre
was following the same model as Think
I am director of own Ltd co
I am vat registered on the flat rate scheme
paying myself £153 a week and rest in expenses / directors loans
surely its better to show some earnings on your P60
last year using think on sales of £27,000 I paid corp / tax of £1,000
and just afew quid in employers NI
does that sound about right
cheers
Simon
If you pay yourself below the NI threshold you won’t have pay both employees and employers NI contributions. As I stated your a director not an employee.