Any Small Business accountants around?

[Bunny]

Hello,

Since there's a huge range of different talent here on YD, I thought I'd throw this one out there and see what comes back.

I'm setting up a ltd company, which I expect to trade very little in its first couple of years. (Ltd company won out over sole trader after careful consideration). I've been keeping receipts etc for some time, and reckon I'll also be able to sell some equipment back to myself to save some tax.

I'll be looking for someone who can consolidate my normal tax return (as I will initially in full-time PAYE employement) with my small business taxes and I will need an annual audit for Companies House.

What I need, is an accountant.

Would anyone care to share their experiences with this sort of thing? Recommendations on how to select a good accountant, possibly even recommendations of good accountants that you know (maybe you are one?) and some kind of indication of how much I should expect to pay for this sort of service (ballpark)?

Any comments most gratefully received,

Regards, Yvonne

[Diving Daisy]

Originally Posted by bunny

(Ltd company won out over sole trader after careful consideration).

What exactly was the careful consideration?
What do you estimate your turnover to be per annum?

(maybe you are one?)

No but my wife is!

Feel free to ask away!

[Finless]

I would recommend joining the Federation of Small Businesses. It is about £80 p/a but is well worth it in my experience (I am part of a family business - I do the boring accounts bit/not a qualified accountant though). Part of the FSB membership entitles you to get free legal advice (not legal services though!).

Best way to get an accountant is by word of mouth - if you know any business people in your area. Otherwise, I would recommend phoning a few accountancy firms and asking them in to tout for your business. You will be able to tell which ones would probably be good for you by the advice they offer. Honestly, the ones that are "on the ball" and looking out for your interests stand out a mile from the ones that just want to "do the books and leave everything else to you". Also, youu can ask them if the can give you any business references where you can enquire about their reputation.

I would also recommend (if finances allow) to chose an accountant asap - if you are new to running a business it is very easy to overlook something you "should have done" or not keep records correctly so that when you have to submit a tax form (eg P11D) you will have a lot of work in getting the information together.

Good luck with the new venture.

Another recommedation would be to join the TPS/FPS/MPS (telephone/fax/mail preference services - which is free to do and does dramaticacally cut down on the junk faxes (esp) you get arriving at the office. Search online for them - I even have my home address/phone registered!

[Bunny]

Thanks guys,

Air Assisted, I'm going to pm you over the next couple of days with some more detail and some other questions (just got a bit busy with pesky work today)

Finless, thanks very much - very useful. Will look into that.

[Diving Daisy]

Glad to be a help

Ian