Uncertainty about accounts

FerociousDave

Hello all,

I'm hoping you might be able to help - I'm currently in the first six months of a wedding photography business. I've managed to complete my first tax return online (although I'm sure I'm paying too much tax) but feel very uncertain about the way I'm completing my books.

We're talking very small fry here at the moment and when budgets allow I will definitely be getting an accountant - but at the moment I would like to try and at least understand the basic processes I have to go through.

So, my question is: Would an accountant be prepared to sit down with me and talk me through a basic book keeping procedure? I get the day to day costs and profit, but things like capital introduced, depreciation etc. are a bit above me. If this was a one off consult and not likely to lead to anymore work, would they be bothered about it? And any sort of ball-park figures as to how much this would cost?

I've been reading lots, but am finding it difficult to apply to the specifics of my business.

Thanks in advance

kuro

an accountant will sit down with you and show you the way but it wonr be free.

Ems!

The big problem for an accountant sitting down with you for this fairly small piece of work is that they still have to jump through lots of regulatory hoops - ie verifying your identification for moneyt laundering regs, doing an engagenment letter etc, and I am not entirely sure that many would want the hassle for the fee levels involved - though I may be wrong , would probably just take some finding. An alternative could be to find a basic bookkeeping course - most largeish towns will have private accountancy colleges - themain ones are called BPP and FTC kaplan. I have a feeling they run a 2 day course on the basics about twice a year. ( not 100% sure though!!)

richt71

Dave,
Have you check with your local businesslink office? Certainly my local one has a business tax helper. Maybe they could give you advise on this?

FerociousDave

Ems! wrote: »

The big problem for an accountant sitting down with you for this fairly small piece of work is that they still have to jump through lots of regulatory hoops - ie verifying your identification for moneyt laundering regs, doing an engagenment letter etc, and I am not entirely sure that many would want the hassle for the fee levels involved - though I may be wrong , would probably just take some finding. An alternative could be to find a basic bookkeeping course - most largeish towns will have private accountancy colleges - themain ones are called BPP and FTC kaplan. I have a feeling they run a 2 day course on the basics about twice a year. ( not 100% sure though!!)

See, this is what I thought.

Maybe I'll just have to find some friends who are accountants to talk to me. Do they go to certain pubs?!?

Cheers all

Plimsole

Hi FerociousDave

If you go here: http://www.hmrc.gov.uk/bst/work.htm and scroll down the list they are pretty widespread in what they offer, and the best bit; it’s FREE.

I hope this helps

Best wishes mate.

Plimsole