Micro-company deregulation

Options
jamesm96
jamesm96 Registered Posts: 523
in General accounting discussion
So it looks as though the simplification of small business accounting might go ahead after yesterday... I wonder what other MIP's views are on how this will affect the demand from clients, and the types of services we will provide?

Discuss!

Comments

  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Options
    All I can say is this:

    double-facepalm.jpg
  • clegganator
    clegganator Registered Posts: 184 Dedicated contributor 🦉
    Options
    Richard Murphy's comments are about right on AccountingWeb;
    “The thing that really makes me angry is when people say that accounts are adding to the burdens companies are suffering when in fact accounting is fundamental to their survival.

    “The reality of life is that small companies do need to prepare accounts on a proper basis to ensure they’re on top of their financial affairs and correctly managing cash flow, which is critical to their survival,” Murphy said.
  • stefanboro
    stefanboro Registered Posts: 187 Dedicated contributor 🦉
    Options
    For the moment I am just interested to see how this is enacted in practice.

    So, if it is optional (as the actual wording suggests) I will insist to all clients that accounts still be prepared under historical cost.

    Can anyone explain how this will reduce costs for businesses? Unless small business owners now feel confident that they can produce and submit accounts themselves under the new regime they will still need an accountant who will I imainge still charge the same. If they are VAT registered they will still need to keep the same files etc. Where is the reduction in cost?

    Please, I encourage anyone to shoot me down because I would like to understand this better and feel that I have missed something fundamental.
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
    Options
    For every time the chancellor uses the word 'simplification' in next months budget I am going to up my prices by that percentage to reflect how much more difficult my job will be.

    On a brighter note.. a smartphone always was a PHONE!
  • clegganator
    clegganator Registered Posts: 184 Dedicated contributor 🦉
    Options
    deanshepherd wrote: »
    For every time the chancellor uses the word 'simplification' in next months budget I am going to up my prices by that percentage to reflect how much more difficult my job will be.

    A client gave us a bottle of whiskey. Let's make it interesting!
    deanshepherd wrote: »
    On a brighter note.. a smartphone always was a PHONE!

    Hurrah! About time!

Categories

Privacy Policy