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Second opinion

tedius
  • Fellow PM.Dip
  • Practice Licence
  • 150 posts
  • # 71608

Hello all,

I've just opened my own practice and am currently waiting for my first client. 
Anyway this morning I received a letter from an accountant asking for my services.  I am feeling a bit uneasy about it, though that could be down to it being a first customer (hence things are getting real) and it is not the type of thing I was expecting.

The accountant is looking for someone to subcontract online filing of client's Self Assessment Tax Returns.  He would provide me with his password and reference number together with all other info needed.  I would just need to enter the data online and submit it, he would provide all the figures.  Also some assistance may be required from time to time on general admin, preping trading summaries and dealing with clients over the phone.

On more piece of info, I'm based in Norfolk and the accountant in based in Bournemouth.

I have two main concerns;
1. As I haven't taken my Self Assessment exam yet can I provide the service he is asking for?
2. How does MLR work here.  Do I just do Due Diligence on the accountant or do I need to do it for his clients too? (I'm still trying to get my head around all this MLR stuff)

Finally what are the thoughts from fellow bookkeepers on this as a first client?  Any comment will be gratefully received.
Lady M
  • Fellow PM.Dip
  • Practice Licence
  • 258 posts
  • # 71611

Hi Tedius,

1. If you have not taken your self assessment exam yet then you cannot do this work.

2. I would be wary of this accountant, I am not sure, if he is providing all of the figures and doing all of the work etc. why he cannot submit the return himself.

3. He is also in a completely different area, although this is not unheard of, it is very unusual as clients would prefer their bookkeeper to be local.

Other bookkeepers may have different opinions, but personally, I'd be very careful in this case.
Peasie
  • Member PM.Dip
  • Practice Licence
  • 481 posts
  • # 71613

Lady M said:

2. I would be wary of this accountant, I am not sure, if he is providing all of the figures and doing all of the work etc. why he cannot submit the return himself.
His time costs more than the bookkeepers. If he charges £50 per hour and the bookkeeper charges £20 per hour he's £30 an hour better off for doing hee haw.
  • 160 posts
  • # 71618

Lady M said:

“Hi Tedius,

1. If you have not taken your self assessment exam yet then you cannot do this work.

2. I would be wary of this accountant, I am not sure, if he is providing all of the figures and doing all of the work etc. why he cannot submit the return himself.

3. He is also in a completely different area, although this is not unheard of, it is very unusual as clients would prefer their bookkeeper to be local.

Other bookkeepers may have different opinions, but personally, I'd be very careful in this case.”
Hi Lady M,

I have letters CB Cert. PM Dip, having done my manual bookkeeping level 3. Could I do Online assessments, I have n't done the Exam,

Kind Regards

Paula Welsh

  • Hello all,

    i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member


  • Quote
  • 698 posts
  • # 71625

Hi Paula

you can only do self assement returns online or otherwise if you have completed and passed the  self assessment module.

http://www.bookkeepers.org.uk/Membership/Joining_by_Examination

The above link is to a diagram which will show you what you can do.

Kind regards
Stuart

  • Forum Moderator, South East & Greater London Regional Chairman

  • Quote
Lady M
  • Fellow PM.Dip
  • Practice Licence
  • 258 posts
  • # 71627

Peasie said:

“Lady M said:
2. I would be wary of this accountant, I am not sure, if he is providing all of the figures and doing all of the work etc. why he cannot submit the return himself.
His time costs more than the bookkeepers. If he charges £50 per hour and the bookkeeper charges £20 per hour he's £30 an hour better off for doing hee haw.

”
Lady M
  • Fellow PM.Dip
  • Practice Licence
  • 258 posts
  • # 71628

Lady M said:

“Peasie said:
“Lady M said:
2. I would be wary of this accountant, I am not sure, if he is providing all of the figures and doing all of the work etc. why he cannot submit the return himself.
His time costs more than the bookkeepers. If he charges £50 per hour and the bookkeeper charges £20 per hour he's £30 an hour better off for doing hee haw.


Was meant to reply yesterday but the forum kep deleting my comment! What I wanted to say was that tedius mentioned that the accountant was going to do all of the work - so why then pay the bookkeeper just for submitting it?


Edited at 01 Jun 2011 07:36 AM GMT
David
  • Fellow PM.Dip
  • Practice Licence
  • 424 posts
  • # 71664

This all sounds dodgy to me.

I agree with LadyM - Why cannot the acct do it all for himself.

Be very careful.
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