Changing accountant - PAYE filing

[dagenheis]

I am in the process of changing accountants, I want to make sure I don't miss anything in this process:

> We have not processed payroll for July 2012 because I don't have an accountant anymore. Do I need to notify HMRC about it so that they don't expect any PAYE/NI liability ? There is normally no NI/PAYE due on the salary though so i believe, we filed nil return in the past.

> Is it normally acceptable that the July/Aug (2 months) payroll can be processed in September by the new accountant?

> As we registered ltd co in May 2012, the annual accounts and HMRC return etc are not due until feb 2013. We have already filed P35 and Companies house return. The personal return is not due until Oct. The VAT FRS returns are in order as well and will file the latest return this month. Anything else?

I am hoping that the handover between accountants should be very minimum given that we have not submitted any accounts yet.

Will be interested to hear if there is anything else I should action before the new accountant is up & ready. My main concern is to make sure that I don't miss anything in this process.

Ta!

[northernladuk]

As you kind of have two accountants on hand now wouldn't it be better to ask them?

[dagenheis]

I wouldn't be asking this question if I have already selected a accountant.

Did not know there is a problem asking this on contractoruk accounting forum anyway

[malvolio]

I wouldn't be asking this question if I have already selected a accountant.

Did not know there is a problem asking this on contractoruk accounting forum anyway

Make your mind up. "Changing accountants" means you've appointed a new one to take over the old one's duties. If you're changing accountants, the new one will be in place and looking after all this. If you're only thinking about changing accountants, the old one should be doing it.

And the problem with asking questions is that occasionally you don't get the expected answer. It's 50/50 whether that's the questioner's fault or the answerer's

[Clare@InTouch]

Your new accountant should establish what's due, and make sure nothing is missed.

It's fine for the new one to process the payroll for July & August, most actually do the whole year in advance, you just need to make sure you've paid the PAYE for Apr/May/June or filed a nil return: HM Revenue & Customs: No PAYE/NICs payment due

Your personal tax return is due 31/10 if you file on paper. That's extended to 31/01/13 if you file online, which most accountants would do.

If you started the company in May 2012 then your first accounts will go to 31/05/2013 with any CT due 9 months & 1 day after that. The accounts are filed at Companies House at the same time.

Your new accountant will need copies of any VAT returns and details of expenses & invoices etc to date. Just check that you're not going to be charged for the year to date when you swap over.

[Maslins]

When changing accountants, you'll likely find you play piggy in the middle discussing exactly when the handover point should be (ie last thing old accountant does & first thing new one does).

Every now and then an "old" accountant decides to be extremely unprofessional about it and sulk at losing a client. In these situations you need to ensure you personally know what's going on (and know your various references etc). When the old accountant doesn't play ball and the director is fairly clueless, the new accountant will find it extremely difficult to pick up the pieces.

[dagenheis]

Your new accountant should establish what's due, and make sure nothing is missed.

It's fine for the new one to process the payroll for July & August, most actually do the whole year in advance, you just need to make sure you've paid the PAYE for Apr/May/June or filed a nil return: HM Revenue & Customs: No PAYE/NICs payment due

Your personal tax return is due 31/10 if you file on paper. That's extended to 31/01/13 if you file online, which most accountants would do.

If you started the company in May 2012 then your first accounts will go to 31/05/2013 with any CT due 9 months & 1 day after that. The accounts are filed at Companies House at the same time.

Your new accountant will need copies of any VAT returns and details of expenses & invoices etc to date. Just check that you're not going to be charged for the year to date when you swap over.

Clare - Sorry for the typo. The company was actually registered in May2011. I believe the year end accounts and CT return are not due until Feb 2013 but we have filed the companies house return.

In regards to VAT FRS, just wanted to confirm my understanding that I should not use the discounted FRS rate and revert back to full rate% for the latest return this month covering May-July period because we have already reached first anniversary of vat registration. I am going to file the VAT return myself.

Ta!