My first client - finally!

speegsspeegs Experienced MentorRegistered Posts: 854
Hi Guys

I wondered if someone could advise me on what I need to get from my first ever client. I am taking on the book keeping and VAT function for this client. I have written to his former book keeper to get professional clearance so that is not a problem. But I wondered what I should get in terms of information from the client apart, from the obvious:

Name
Address
Money laundering compliance

What else should I get? The client is a VAT registered sole trader.

Thanks

Sara

Comments

  • sarahwilsonsarahwilson Experienced Mentor Registered Posts: 567
    I have no idea the answer to the question but good for you on the first client:thumbup:
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Thanks Sarah

    It is actually my Uncle who has asked me to do his books. It feels really weird asking for a photocopy of his passport and a utility bill for the ML regs, I must say, and he did laugh when I requested them. :001_smile:

    Speegs
  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    Tongue in cheek comment but, how about some books and records to actually 'keep the books' :tongue_smilie:

    Now a bit more constructive; presumably, you've produced an 'engagement letter' for your client to sign?

    Regards

    Dean
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Yes I have all the obvious stuff and a backup of his Sage records. I have last years financials, and a sign Engagement Letter, but I just wanted to check if I had missed anything. I even have a letter of resignation from his former practioner.

    Is there some sort of check list?
  • PoodlePoodle Experienced Mentor Registered Posts: 711
    If you are registered as an agent with HMR&C you might want to get a 64-8 in place re the VAT.
  • speegsspeegs Experienced Mentor Registered Posts: 854
    What is a 64-8?
  • jilbojilbo Well-Known Registered Posts: 197
    Hi Sara,

    Congratulations on getting your first client.

    Obviously you will need an opening trial balance but that should come from your client's former bookkeeper.

    You should ask your client for full details of all regular direct debits and standing orders, and direct credits if he has any. I have a client with a small chain of off licences and he as all sorts of regular direct debits and credits, for each branch. Fortunately there is usuallya reference quoted on the bank statement for most of them, and once I had details of which reference related to which branch it was a dream. Clients do tend to forget small details like that!

    Depending on the software you're using double check exactly which expenses etc your client wishes to be posted by department, I had to edit loads of postings because one of my clients said to only departmentalise direct expenses and not overheads, and guess what !!

    That's just a couple of areas, must go my boss is hovering!
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Thanks Jilbo
  • speegsspeegs Experienced Mentor Registered Posts: 854
    How do I become an tax agent for my clients. I know the form 64-8 gives me authorisation to deal with HMRC on their behalf. But the bloody useless/confusing HMRC website gives absolutely no clues on how to register as an agent.
  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    speegs wrote: »
    how to register as an agent.

    Click me!

    Only take on what you are confident with!!

    Regards

    Dean
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Hi Dean

    I actually ended up phoning the Agent Maintainers and they set me up over the phone. Excellent.

    I am confident when it comes to submitting tax returns for self assessment and vat as I have done many in the past, but they were under the supervision of my father who is an FCA. Now I have my very own client I was not too sure initially how to register as an agent.

    Thanks for your help anyway,

    Speegs
  • sheelaghsheelagh Well-Known Registered Posts: 133
    Agent

    You got a phone number for an Agent Maintainer? And you spoke to one?
    And I thought they were just a myth.
    Go on, give us the phone number - pleeeesse
  • farmergilesfarmergiles Font Of All Knowledge Registered Posts: 1,693
    I'm on first name terms with mine in Chesterfield
  • speegsspeegs Experienced Mentor Registered Posts: 854
    The Agent Maintainer who I spoke with, and I must say he was extremely helpful, was on telephone number 01482 601 780.
  • marknotgeorgemarknotgeorge Well-Known Registered Posts: 158
    Well done, speegs!
  • speegsspeegs Experienced Mentor Registered Posts: 854
    Thanks Marknotgeorge.

    By the way your blog is great, but I cannot select to follow as you do not have the "follow" gadget. Do you want to add it? Then you will be able to see who is stalking you. :laugh:

    Speegs
  • marknotgeorgemarknotgeorge Well-Known Registered Posts: 158
    'Tis done.
  • speegsspeegs Experienced Mentor Registered Posts: 854
    'Tis followed. :thumbup:
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