Year End - submission - The Book-keepers Forum (UK)

Julie · Senior Member

Year End - submission

RobH · Expert

Hi Julie,

I doubt that he has been audited so you would be allowed to prepare his final accounts. I guess the question is, do you know what constitutes a set of accounts for a limited company, what disclosures to put on, how to prepare Abbreviated Accounts for Companies House.. All these things are 'do-able' In essence you will need to :

Send Abbreviated (signed ) accounts to Co House
send full accounts to hmrc
send CT600 to hmrc
send CT computation to hmrc
do you know the rules for overdrawn directors loan account and the S419 tax rules?

Personally I never turn away a Limited company because they area good earner but I always sub the job out to one of a couple of accountants. Typical scenario today, I had a job finished for me by an accountant, I have charged client £800, accountant has charged me £400 and I don't have to worry about all the things I mention above!

Hope that helps,

Rob

Julie · Senior Member

Hi Rob,

Thank you for your input, in answer to your many questions.... have not gone this far with accounts before and so have not really needed to be fully informed on this area, as such my knowledge is patchy and not confident enough to have a go.

Like you, I prefer to let the accountant take the strain once Ive prepared accounts for them, so I will probably need to scout around and find one to take this on for me, although my client is very reluctant to engage an accountant.... he has suggested that if I am not prepared to do it, he will have a go himself !!

Thanks again for your advice.

Julie

RobH · Expert

Hi Julie,

what fee are you looking at? Lets say it is £800. I would talk to a local small accountant and say you are willing to sub work his way assuming his price was competitive, let him know you are accruing £800 and say you would like to make £400 for your bookkeeping costs etc and you could make this a regular thing. If the accountant is greedy go somewhere else. I did a job for a client last week wheer the accountant charged me £350 and I charged £1250 for it so you can make a good margin on the right jobs. Then ask if he would he be preapred to send bookkeeping your way.

You charge your client directly and he remains your client.

Rob

-- Edited by RobH on Wednesday 7th of April 2010 05:56:09 PM

Lisa Jo · Senior Member

Our accountants sign off £360+ vat if fully prepared by a bookkeeper, I pass family business his way & as long as I do it he charges the standard fee for sign off, gives you an idea what the costs are doesnt it?

RobH · Expert

Do you keep the client yourself Lisa or do you let the accountant charge the client directly?

lor · Guru

I have previously outsourced the hmrc stuff and companies house, as it seemed easier and as RobH says you can add to the fee and make money for not doing the work yourself, you can't lose!

Shamus · Forum Moderator & Expert

Unless your poor old Silly Digits of course and the accountant steals your client!

Silly Digits · Senior Member

Thank you for the sympathy Shamus. Feeling fed up with accountants at the moment. Although i'm sure they are not all that sly.

Shamus · Forum Moderator & Expert

Hi Silly Digits,

Afraid that I'm more of an accountant than a bookkeeper (I think you might have guessed that bit already).

However, in my defence I did actually listen during the lessons about ethics plus I already had a few ethics of my own beforehand (such as don't cheat on your girlfriend with anyone who lives in the same postcode area) so even though I do tread that darker path I would never dream of doing that across anyone.

Bet that the accountant that did that to you doesn't get to wear their undies outside their trousers!... Mmmm, methinks I'm probably not likely to be your average type of accountant when I finally get my accountancy practicing certificate!

So, when I am an accountant I'm guessing that you'll be happy for me to look after your year ends and reinstate your trust in accountants! biggrin

Must practice that "Trust me, I'm an accountant".... Just got to wait a couple of years before I can use it now!

RobH · Expert

But the whole point of doing it my way is that he accountant can't steal the client because he has no contact, he bills the bookkeeper who bills the client. Also this way the bookkeepers practice becomes more valuable.
Rob

Marky65 · Guru

Hi

Following on from Rob's comments I have just been approached by an accountant who specialises in doing ltd company returns & companies house stuff solely for other bookkeepers/accountants. So I keep my ltd company clients, send all the data to these accountants who then produce and file all of the returns, they have no interaction with my client at all because I am the accountants client and point of contact. I have a price list from them so I know how much I am going to be charged so I can set the fees to my clients accordingly and make a nice profit for it.

Regards

Mark