Re: advice on small business accounts

In article <1135081477.293978.70710@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
mikemnnn@xxxxxxxxxxx cleared their throat and muttered...
> I'd be grateful if someone could give me some advice.
>
> A friend of mine is a sole trader. He does around 20 jobs a year (each
> taking about 3 days in total), often for foreign clients. He employs an
> accountant to look after the financial side of things costing him £300
> per month.
>
> Things haven't been going well recently, work has been slow and he's
> looking to cut his overheads. One place where he could do this would be
> handling the accounts himself, thereby saving himself about £5k per
> year. Is this a sensible idea? Just how difficult would it be to handle
> the accounts himself, and is there any legal requirement involved? Do
> you need to be a qualified accountant to satisfy the needs of the
> inland revenue? It just doesn't seem right that the accountant is being
> paid a regular fee even when no work is coming in.
>
> Many thanks in advance
>
>

60 days work a year and he's paying his accountant £5k? They saw him coming!!

there's a few peeps on here that'll snatch his hand off at less than £300 per
month. ( how does 300 * 12 = 5000? )

how difficult would it be to handle the accounts himself? - better asking him
if he can do it...

qualified accountant? = not needed, the Revenue will do all the work free if he
takes his books into his local office and goes through them with the Inspector.


--
Doobie Doobie Do, da da di da da
.

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