[master-clean]

You can read more here http://www.hmrc.gov.uk/budget2008/bn12.pdf

But basically you can now put in 100% on any investment purchase upto £50k

You can still use the old system if you wish (WDA) 'Writing Down Allowances' which is 20% a year 40% first year.

But Im sure we will all be using the new I told my account too 

Your accounts should have informed you of these changes its a big change and a good one for small buisness's!! 

 

[master-clean]

To change the subject back it sounds like Derecks doing the right thing, for example, you should add all your petrol reciepts up and give you accountant the figure.

You dont give him all the petrol reciepts and let him add it up! that way will cost you alot more.

This princible will extend to all your accounts, you caterise it all and do the adding up to save money. Its just a log really.

Simon do you give yours all your receipts invioce books and let him do the lot?

[Steve Barnett (Carpet Care Plus)]

I keep my own day book which is reconciled with my bank statements each week, so I have an "at a glance" view of where I am financially at any given time.

I also run a sales and purchase ledger, which I fill in monthly.

Then I give the accountant everything at the end of the year and let him do his stuff regarding write downs and any other acceptable allowances.

Steve

[COLIN BRIGHT]

I NEVER DO MY BOOKS
i take mine to my accountants every 3 months, they do all my book keeping,  they work out where the best profit is made, we have meetings about how best to bring the business forward and at the end of the year do my tax retuns, the are completly BRILLIANT and within 2 months of the year end i know exaclty how much i own or not owe the inland revenue
it is one of the best moves i've made and at £167 a month ALL IN it only takes me a couple of hours of work to recoop the cost

NO BOOKWORK   NO HASSLE   NO STRESS AND I THINK AN ABSOLUTE BARGAIN
why people do their own books is beyond me
let the accountant do their job so you can do more of your job and actually earn more!

p.s HAPPY XMAS TO YOU ALL   ................. just in case i forget to pass on my festive wishes in the season
 

 

[Shaun_Ashmore]

Tres Bon Colin !

Why have a dog and bark yourself ?

The Missus does my books and I can tell you that £167 a month is far cheaper than i have to pay.

Shaun

[Jim_77]

hahaha you're not wrong there

[clinton]

Nice one shaun

[Shaun_Ashmore]

You've been quiet Clinton, where have you been?

Shaun

Jim are you going to Brum tomorrow?

[absolutecleaning]

But basically you can now put in 100% on any investment purchase upto £50k

 

It says plant and machinery - do you think a vehicle would be classified as that?

Simon

[master-clean]

Yes 'plant and machinery' is only a tax office term, your wand, TM, portable, van etc are all plant and machinery.

[master-clean]

YES use an accountant well said.

I do adding up receipts though.

[JandS]

So your accountant is on £167 an hour just for adding up 2 columns of figures and deducing the obvious???

John

[Joe H]

John
I assume you referring to Colin Brights post.
I reckon his accountant is spending more then an hour.
You look and Colin says he takes his books to be done, as if Colin is not doing any entries, leaving it to his accountant who no doubt has a junior involved punching figures.
Then he mentioned meetings every quarter to discuss matters.
If it works for Colin then thats fine, but I,like a few on here, do at least the filling in the books as time goes on to try to keep the accountancy fee down.
I pay about £400 a year which I think is reasonable, takes hassle away from me and I know he will go for as much he can as business expense etc.

[JandS]

Doesn't really matter Joe as he says he can afford it.
He can earn it back in a couple of hours lol.
£83.50 an hour??

John

[Andrew Briscoe]

I am with Colin, i pay £136.25 per month plus Vat, i see my accountant 3-4 times a year for meetings/advice etc

for this he does my vat 4 times per year, plus my year end accounts,

vat per quarter is £180 + vat and year end is £915 + vat

It may seem a lot to some, but my accountants are one of the top in country, and put my trust in them.

Think there was a post a few month back from someone who's accountant had damned up and cost them money, if this happened to me i wouldn't have to chase them for bad advice, they would cough up immediately.

Bit like carpet cleaning, you get what you pay for.

Andrew

[COLIN BRIGHT]

acually i can earn it back in a hour on a large carpet, just like i did today

[clinton]

Hi shaun

Just on holls in cyprus for a few weeks.

So only come on the computer in the hotel for a min or so

You will be having your 5 weeker soon wont you lol

cheers clinton