My first client - finally!

speegs

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

sarahwilson

I have no idea the answer to the question but good for you on the first client:thumbup:

speegs

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

Dean

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

speegs

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?

Poodle

If you are registered as an agent with HMR&C you might want to get a 64-8 in place re the VAT.

speegs

What is a 64-8?

jilbo

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!

speegs

Thanks Jilbo

speegs

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.

Dean

speegs wrote: »

how to register as an agent.

Click me!

Only take on what you are confident with!!

Regards

Dean

speegs

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

sheelagh

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

farmergiles

I'm on first name terms with mine in Chesterfield

speegs

The Agent Maintainer who I spoke with, and I must say he was extremely helpful, was on telephone number 01482 601 780.

marknotgeorge

Well done, speegs!

speegs

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

marknotgeorge

'Tis done.

speegs

'Tis followed. :thumbup: