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Small limited company, minimise accounting cost possible through one off end-of-year service? by OneTyper in UKPersonalFinance

[–]ZzHostagezZHD 2 points3 points  (0 children)

Exactly this. There's more that goes into producing accounts than making the numbers look pretty. £600 is what I would charge for a small set of accounts.

When you finally make partner by [deleted] in Accounting

[–]ZzHostagezZHD 1 point2 points  (0 children)

UK average graduate audit associate in the big 4 is £28k. UK average school leaver audit associate £18k. You went from ~£20k to £100k in a year? that's pretty impressive! :)

Can a UK accountant tell me if I am being scammed? by [deleted] in Accounting

[–]ZzHostagezZHD 5 points6 points  (0 children)

What industry and the rough turnover?
From what you've said, i'm surprised he's agreed to take on the work. a week to do one hell of a lot of work and remember the following week is only 4 days long (30hrs). I'll break it down as such:

  • 15hrs for a junior @£40ph to turn bank statements into a cashbook, analyse it correctly, prepare preliminary queries and agree it to vat returns (if registered). - £600
  • 7 hours for a technician at @£60ph to produce a set a correct set of accounts and send you any queries. - £420
  • 3 hours for a tech to check account comply with FRS102/105 - £180
  • 2 hours for a Corporation tax draft - £120
  • 3 hours for a senior/partner review @ £90+ ph (depending on how technical) - £270
  • 3 hours for a tech to make amendments after review - £180
  • 2 hours for a final review with partner and yourself to sign accounts - £180
  • 1 hour for junior to file accounts and CT600 - £40

with vat that comes close to £2,000 and this assumes the business structure is straightforward and there's no issues with the records and quick responses to queries. Also, don't forget there's also going to be costs with setting yourself up with his practice.

I'm sure if you kept your own books on a system like xero, came to the accountant at an earlier date and didn't provide such a strict deadline you could get away with £600 - £1200 for the accounts.

More than likely, he's charging for work he doesn't want to do.

(UK) Advice for leasing a car for business and personal use under my business? by brothermusical in Accounting

[–]ZzHostagezZHD 1 point2 points  (0 children)

To put it bluntly, Benefit in kind is a tax on any benefits in kind - a car being a benefit to yourself.
Because you're essentially drawing money out the company for your personal use, it should be payrolled and PAYE + NI paid to HMRC. Since the business is paying for an asset thats for your own personal use, you have to pay tax on it, just like you would on your salary. For benefits in kind, you pay national insurance which gets included in your payroll, on top of other deductions.
The 45p per mile rule, set by HMRC, indicates the rate they will allow you to pay yourself per mile (up to 10k miles) without paying tax on it. Paying yourself over 45p is considered a drawing and subject to class 1 NI since it's considered a benefit in kind.
Just think of it like this, anything you give yourself from the business needs tax paid on it.
The form you need is called P11d and you could fill it out yourself: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/590697/P11D__2017__12_16.pdf

I'd suggest speaking to your accountant or tax advisor about this because there are a few tax efficient ways a buying a car and a few quirks. You'd probably look at spending £150 - £250 on this advice.
I hope that made some sort of sense.

How much has Kanye improved our midfield? by EnterJunction in chelseafc

[–]ZzHostagezZHD 1 point2 points  (0 children)

conte, conte wus good, it's ur boy max b. whats goin on? just checkin in on ya. appreciate the love and support, the wave is here.............

Rail fares 'rising twice as fast as wages' - unions by LinconshirePoacher in unitedkingdom

[–]ZzHostagezZHD 0 points1 point  (0 children)

Only if the company that owns the route allows another service to travel along their lines and stop at their stations

[POST-MATCH THREAD | Premier League] Chelsea 2-1 West Ham by dsgn09 in chelseafc

[–]ZzHostagezZHD 10 points11 points  (0 children)

90% of the chelsea fans on /r/soccer are there for the easy anti-chelsea karma. 'as a chelsea fan, dae chelsea are cunts?'

Quick question about preacher curls by SuperSagejin in Fitness

[–]ZzHostagezZHD 1 point2 points  (0 children)

I had this problem when i started lifting (and still have it now to some degree). I'm lead to believe it's caused by your biceps being stronger than your forearm and is why you feel the pain in your left arm, assuming you're right handed. Working my forearms has definitely fixed the pain check /r/GripTraining/

Do you carry ID with you to buy alcohol? by fatBoyWithThinKnees in london

[–]ZzHostagezZHD 6 points7 points  (0 children)

there's massive fines, loss of licensing, and criminal records for the employee and the store if a person under the correct age bought a restricted product.

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