Scandalously stupid, naive question

dixie_dean_2

Just set up meetings with a couple of local accountants. Also had a look at some freelance websites. If I go through a freelancer charging, say £15ph, am I taking a risk? More of a risk than just going through am local company without a recommendation? Is there anyone on here who would like the job?! I know on the Travel Board that agents can "tend" for jobs.

dixie_dean_2

First local accountant agrees no need to do SA unless requested. Phew, one job off the list!

bobthedambuilder

dixie_dean wrote: »

Just set up meetings with a couple of local accountants. Also had a look at some freelance websites. If I go through a freelancer charging, say £15ph, am I taking a risk? More of a risk than just going through am local company without a recommendation? Is there anyone on here who would like the job?! I know on the Travel Board that agents can "tend" for jobs.

It's not quite clear (to me anyway:o) whether you are seeking accountants for your company accounts and tax returns, or for your personal (SA) return. AFAIK, you will need to submit company accounts and returns whether or not the company is actively trading i.e. has a turnover this year, and whether or not you take money out of it, either as a salary or as a dividend.

Just because you need or choose to do company accounts through an accountant does not mean you have to use one, let alone the same one, for your own SA. Unless your financial affairs are particularly complicated, it's relatively easy to do the SA yourself. I have a company for which I employ an accountant but still do my own SA returns.

dixie_dean_2

Hi, yeah, sorry, these are separate issues. I'm meeting people tomorrow regarding the company accounts (paying tax and filing to companies house) but the imminency of SA deadline is what brought this to a head (although company accounts not due till June). I'm (relatvively) happy now that I dont need to do SA.

dixie_dean_2

One other, again, probably very simple question, this time on VAT. If I'm not VAT registered (have checked with HMRCand due to the small size of our business we dont need to), do I basically not need to think aboiut VAT at all? Our business is all service/freelance - we dont sell anything as such.

bobthedambuilder

If you're not VAT registered, you don't put VAT on your invoices, and you don't claim VAT back on your outgoings.

dixie_dean_2

Went to see the accountant today and all went well. Our first year turnover was only £700 so ideally we didn't want to pay an accountant. Am I right in thinking that for a Limited company the accounts have to be signed off by a qualified accountant or is it possible for me to do the entire process myself?

Cheers.

bobthedambuilder

I don't think they need to be signed off by a qualified accountant - at least I can see no such sign-off on the accounts which my accountant has prepared for my company. As a director I do have to sign them off.