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• # 70736
• Mon 09 May 2011 02:32 PM

Hello everyone,

Owing to being a new business I am still looking to read every relevant info about what I need, should have and what is of necessity. One question I need the answer to is "Will I need the services of an accountant at some stage for my clients".

Can anyone help?

Kind regards

David R Dudley Associate CB. Cert

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• # 70739
• Mon 09 May 2011 03:22 PM

Hi David,

If your client is a Limited Company, then they will definitely be needing an accountant as us bookkeepers are not qualified to do the final accounts for LTD companies because of statutory requirements and certain tax issues that only accountants will be qualified to deal with.

If your clients are sole traders you will be able to do the final accounts for them yourself, bearing in mind that you can only do their personal tax returns if you have taken (and passed) the level 3 self assessment exam.

Also to mention that in limited companies it will be company's responsibility to hire an accountant and the directors will be held liable if proper accounting records are not kept and/or stat accounts are not filed at Companies House. 

Hope that helps!

Edited at 09 May 2011 03:25 PM GMT

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• # 70740
• Mon 09 May 2011 03:44 PM

According to this page if you have passed level III you can draft final accounts for Limited Companies.
http://www.bookkeepers.org.uk/Membership/Joining%20by%20Examination

It is then up to the Director to sign the accounts. I don't think at level III you would be qualified to deal with the Corporation Tax though. I can't imagine someone would want a bookkeeper to do the final accounts and then an accountant to do the tax work.
This is also up to a certain amount (£6.5 million rings a bell) at which point accounts need audited.

Level IV I don't there is much you wouldn't be allowed to do other than auditing (at the level mentioned above).

As regards the OP (David) - at associate level then an accountant would be needed as you're only allowed to do up to trial balance.

EDIT : Best see the page in the link, for some reason I got it in my head you were asking about limited companies. Maybe one of these days I'll read what I'm replying to.  

EDIT 2 : I think the wording may have changed on this page as there was debate on it before. It changes my opinion on what can be offered. I now haven't a clue.


Edited at 09 May 2011 03:46 PM GMT

Edited at 09 May 2011 06:46 PM GMT

• . http://www.smbps.co.uk/
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• # 70748
• Mon 09 May 2011 07:29 PM

Hello Lady M and Peasie,

Thank you for replying so quickly. I will take your advice and use it in practice. You two have being very helpful.

Kind regards

David

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• # 70776
• Tue 10 May 2011 01:26 PM

Thank you for your reply. I have posted a reply to you on the forum if you if not already read it.

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• # 70777
• Tue 10 May 2011 01:27 PM

Thank you Lady M for your reply. I have posted a reply to you on the forum if you if not already read it.

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• # 70778
• Tue 10 May 2011 01:30 PM

Hi David,

Yes I have read it. Let me know if you need anymore help.

Thanks.

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