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Question about acountants


Violet Elizabeth

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Hi, seem to remember a few bean-counters lurk in the sheds.

 

Looks like my company accountants are going down the tubes, or rather they have made all their IT staff redundant and now I have no online accounts access.

 

Couple of questions ...

 

My year end was December, so is it going to be easier for me to ditch them NOW, rather than waiting ? Seem to remember that it is easier to transfer accountants at year end ?

 

If they really screw up big time with my year end, do I have any redress ? i.e. can I point Hector in their direction and say "sorry guv not my fault" ?

 

Thanks.

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Think Meldrew is as well.

 

Grrrr, this is the trouble with the interwebthingy, when it works it is great, and can get at my accounts from the whole wide world, but when it is broke ...

 

Luckily I got my "Send this back to Companies House by 4th Jan or go to Jail" form sent back. Have to pay VAT man on the 31st, but have no idea how much, and they are quite scary. Hey ho.

 

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I presume these people write up your books on a regular basis, do your tax and prepare your statutory accounts, do they? Are they a firm, of Chartered/Certified Accountants or a bureau service? Partnership or limited company?

 

It's almost certainly cleaner to ditch them at the start of a new accounting year, but you want to make sure that stuff like your VAT, stat accounts, audit (if any), tax payments on account and other compliance issues are tied up and dealt with so nothing falls between stools during the change process.

 

If they do louse up your year end, the only real redress you have is:

 

a) in court through the usual mechanisms of tort;

b) if they are qualified, you can complain to their institute and get them disciplined, though this probably won't get you any money back.

 

Hector may be sympathetic if you explain nicely, but it won't last for long and you'll be expected as a company director (I assume you are) to make alternative arrangements for the maintenance of adequate accounting records in line with the Companies Act.

 

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I presume these people write up your books on a regular basis, do your tax and prepare your statutory accounts, do they? Are they a firm, of Chartered/Certified Accountants or a bureau service? Partnership or limited company?

 

Yes, Firm of Certified Tax Acountants, Limited Co.

 

Limited Co been taken over by another Ltd Co, hence the ensuing chaos ☹️

 

Thanks for the help Meldrew, yes I am a Director, so seems like any leeway will only be limited if things get sticky. *thumbup*

 

Cheers,

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Noger

 

As they are also a Limited Company, they of course have their own equally onerous obligations, and obligations to you as a client, etc. If they are to preserve any reputation on transfer to the new company, they can't really afford to abandon you wholesale. Having said that, there is probably quite a small window of opportunity for you to get what you can from them (eg on disk/CD).

 

Do you want someone (ie me) to chat to them on your behalf and see what can be recovered from them so that you can maintain your VAT records, etc?

 

Let me know *smile*

 

Pat and his not quite black and white cat

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The term "Certified Tax Accountant" is pretty meaningless. The two institutes which normally provide accountants for public practice are:

 

The Institute of Chartered Accountants (England and Wales or Scotland)

The Chartered Association of Certified Accountants

 

However, there is no legal requirement that Ltd Company accounts have to be prepared by members of the above institutes. In fact, ANYBODY can prepare and submit company accounts to either the Inland Revenue or Companies House. The only statutory obligation to use members of the above bodies is when a company needs to have its accounts audited under the terms of the Companies Acts. Registered Auditors can only be members of these institutes.

 

There are lots of "accountants" out there who are either, qualified with lesser bodies, part qualified in that they never finished their training or are not qualified with ANY institute at all.

 

With a year end of 31 December, you would need to be mindfull of the following deadlines:

 

30 September 2004 - payment of Corporation Tax due in respect of the year ended 31 December 2003).

 

31 October 2004 - filing of accounts at Companies House

 

31 December 2004 - submission of accounts for the year ended 31 December 2003 and the related Corporation Tax return to the Inland Revenue.

 

I am assuming that your company is not a PLC.

 

 

 

Edited by - Eric McLoughlin on 28 Jan 2004 14:00:01

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Noger plc ... almost as popular as Enron *wink*

 

Thanks for all the advice, have now spoken to accountants (actualy think ther are Chartered Tax Accountants) ... and they assure me the are not going out of business. Hmmm, when a companies web site disappears for 4 days and you are told to speak to someone you have never heard of ... my thoughts turn immediately to "the administrators".

 

Still smells a bit funny (but that could be my kipper tie) , but will see how it goes, may have a sniff around Companies House interwebsite.

 

Phew, my thumb and eyes now ache from phone posting. I need a GnT.

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"Chartered Tax Accountants"? . Sounds like they might be members of the Chartered Institute of Taxation (CIOT) which is a taxation qualification, not an accounting qualification. Could it be that the old practise has merged or been taken over?

 

Ensure that there will be no hiccup in getting your annual accounts done and that the fee levels are remaining within your expectations.

 

 

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The accountant's chief role in life is to prevent his clients from receiving nasty surprises.

 

If an accountant has to pass on bad news to a client, then it is best if he does it as early as possible in the year. At leat then the client can plan how he is going to deal with it. The worst scenario is receiving a nasty surprise, late.

 

 

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not quite the situation Eric - the accountant said "you'll have the investments we agreed you'd keep and the remainder after selling some, consolidating others, paying tax, paying my fees etc will be 1500 quid". A while later I got "oops. I forgot a few things - you'll have approx zero cash left over".

 

So yes, I agree I'd rathe the accountant told me the problem rather than the IR - but he shouldn't tell me its done and give me the final accounts when they're not final, full of errors.

 

HOOPY R706KGU Hoopylight R

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Well, he's clearly an incompetent, then. You should tell him so and ask him what he's going to do about it. If you relied on his advice you should pursue him hard.

 

I would also find another, more competent, accountant.

 

Also be grateful that this chap was not a doctor, a civil engineer or a pilot....

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