Originally posted by malvolio
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Open Source/Free or low cost accounting software recommendations
Collapse
X
-
-
-
Business bank account | No monthly fees - Starling Bank
They integrate to your accounting package and have the FSCS backing.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
Originally posted by sojan View PostPS: Have liked/upvoted for all the helpful posts out hereDown with racism. Long live miscegenation!Comment
-
Originally posted by malvolio View PostGood accountants are free, as are good software packages such as FreeAgent, since they save you time and your time is money.
Bad accountants and software, however, can be very expensive...
Must admit I'm curious as to why you need a company for £10k a year.Comment
-
PAYE can be done using the free HMRC tools, if you're going to run a PAYE scheme.
You won't need to worry about VAT as your turnover is well under the threshold.
Are you expecting load of micro payments going through the bank, which is why you want it automated? I presume your bank doesn't offer a statement export to csv that you could plug into the SJD spreadsheet? It probably wouldn't be all that difficult to write a macro to handle it.
And...is it really worth incorporating for £10k? What's up with a sole trader set up?Comment
-
Originally posted by ladymuck View PostI'm guessing there's a 'not' missing from the first sentence...Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
-
Originally posted by ladymuck View PostI'm guessing there's a 'not' missing from the first sentence...
Perhaps do the sums properly. If it takes five hours a month over the year to log all the various banking entries, work out your payroll, work out your VAT return and prepare your company accounts, as well as the year end stuff and generally keeping track of your profits margins, tax liabilities and committed expenditure, then at an average rate that's costing you around £250 (or £500 if you are a proper cost accountant and add in the free time you are wasting while doing these chores). The average accountant is around £100 a month.
And what if there is an error, or HMRC make a cock-up (not that ever happens)? My accountants have resolved issues with HMRC in less than a a day; I've spent longer than that trying to talk to someone.
Plus I'm not an accountant (at least, not since 1978) and have no desire to be doing all the reading to keep up to date with an ever-changing tax landscape. I'll leave it to the experts thanks.Last edited by malvolio; 5 May 2020, 10:42.Blog? What blog...?Comment
-
Originally posted by malvolio View PostErmm.. No - what am I missing?
Perhaps do the sums properly. If it takes five hours a month over the year to log all the various banking entries, work out your payroll, work out your VAT return and prepare your company accounts, as well as the year end stuff and generally keeping track of your profits margins, tax liabilities and committed expenditure, then at an average rate that's costing you around £250 (or £500 if you are a proper cost accountant and add in the free time you are wasting while doing these chores). The average accountant is around £100 a month.
And what if there is an error, or HMRC make a cock-up (not that ever happens)? My accountants have resolved issues with HMRC in less than a a day; I've spent longer than that trying to talk to someone.
Plus I'm not an accountant (at least, not since 1978) and have no desire to be doing all the reading to keep up to date with an ever-changing tax landscape. I'll leave it to the experts thanks.
Good accountants are free, as are good software packages such as FreeAgent, since they save you time and your time is money.
Good accountants are not free, as are good software packages such as FreeAgent, since they save you time and your time is money.
But if you did find an excellent accountant, who supplies FreeAgent, all for the princely sum of nothing then please send me their phone numberComment
-
Time to take "attention to detail" off malvolio's cv.....The greatest trick the devil ever pulled was convincing the world that he didn't existComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment