Can you put your accountant on hold?

CurlyJules

Hello there! I have been working as a freelance/ contractor since 2013 and got VAT registered last October, when I also appointed a Tax Advisor/Accountant to prepare and file my tax returns.

I am now planning to take at least a couple of months off work - while I will also look for permanent, PAYE work opportunities. Could I update my accountant and ask them to consider/ accept being put on hold for a few months (until I find said new gig and/or need to file FY 2015-16 returns)? Having to pay £149+VAT/month for me during my break would be a challenge and concern.

How can I best communicate this change to the accountant? I have checked my agreement and I am asked to give them at least 21 days' notice whch means I must act by COB today!

Thanks in advance for your advice:grouphug:

mgdavid

pop in for a quick face-to-face chat?
phone him up?

DigForVictory

Communicate with them - if they know, they may not bill you, if they don't, they certainly will!

You may want their advice on this plan & the perk of being an accountant is they know who's hiring - they may be able to make some blinking pertinent suggestions.

It's certainly courteous to reassure them you do intend to return to them later (if only to wrap things up neatly for HMRC!)

CurlyJules

Hello again and thanks for your advice.
I did write a polite note and the accountant and I are now meeting next week to discuss things. She mentioned that returns for end of May are next and she is awaiting my instructions as for the next period.

Self-employment is a new thing to me, so I have a few (silly) queries and if anyone could help me understand before I go and meet the accountant, I would feel empowered.

Since October 2014 I have a VAT number and take part in the flat rate scheme (14% for my catagory, management services). Through my accountant I submitted a SA for 2013/14 in January, and then a return and a payment for the period May to Sept 2014 (when I did not work because I went back to studying) and then October 2014 to Feb 2015.
In Feb 2015 I also made the first payment in account for FY 2015/16, with the second planned for end of July.
I now understand that my accountant needs to file a return for the end of May; will this cover the period March to April 2015? How many other returns do need completing this FY? Would they be simple enough to be prepared by myself ?

Your advice is really appreciated - this is new territory for me after a lifetime of PAYE. Thank you all in advance.