Work above my capabilities

moozy7

I'm ready to start doing accounts etc for straightforward 'sole trader' and maybe even simple Ltd Cos.

I know i'm okay with 95%, but dont want to mess up the remaining 5% - eg best tax treatment in various situations etc.

What is the correct etiquette here -
Will tax specialists provide me with a consultancy service?
Will I simply have to pass the 'higher' work to them?

I do know that this forum is an absolute godsend.

Advice / thoughts please.

Moozy

deanshepherd

Do all you can and turn to the forum for free advice on what you can't.

Simples.

Wrenchie

That is a really good question. I don't know everything about tax or accounting and often think that I should. For the 4 years that I have been working for myself I have learned more than I did whist I was employed and studying for ACCA! If I don't know something I sit down take some time and investigate. I find the revenue's website really hard to search, but when I find what I'm looking for it is really useful.

I don't know if anyone else uses them, but DTE have some good publications. I have got one on tax planning for small businesses aimed at the 'family' Ltd company which is really useful.

If I am really stuck then I have asked on here and got some really good advice.

Good luck with your business!

moozy7

Once again - thank you very much.

Dean - i'm starting to realise that you're a very useful contact on here!

Wrenchie - thanks for your words of experience - very reassuring, and I will try the DT publications.

deanshepherd

CCH helpline (Free to MIPs) is also very useful. Not always correct, but very useful.

blobbyh

Dean, I think many of the longer serving forum members knew exactly what you meant by your first post! No wonder you have no friends... ;-)

deanshepherd

Hey.. don't tarnish me with your muddy brush!

I have at least 13 followers on twitter - that makes me more popular than Jesus!

Poodle

twitter. Whats that?

Rinske

Poodle wrote: »

twitter. Whats that?

Isn't Twitter where you get to spent a lot of time telling people what you are doing so you don't have time to do what you want to do anymore?

Wrenchie

If I may butt into the banter... do you use Twitter for your work?