Need a quick clarification of what we can/can't do please

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Sarah-Lou
Sarah-Lou Registered Posts: 141 Dedicated contributor 🦉
in General accounting discussion
A client has just telephoned me saying she has a form she needs to be filled in by her accountant regarding a recent purchase of a flat. She said she didn't really understand what the form was.

I am now having a bit of a panic that I won't be able to sign it for her :o/

I am into my second year of completing her book keeping and end of year accounts. Really don't want to say I'm not qualified to help!

Thank you

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  • NeilH
    NeilH Registered Posts: 553 Epic contributor 🐘
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    Hi

    Generally this sounds like it is something you can complete, providing it is within you remit of knowledge and skill and you can complete the details accurately and genuinely. You will need to check if the issuer of the form has their own requirements/stipulations on who can complete the form.

    Generally, the only accounting work that is restricted is statutory audit, insolvency and financial services. Professional bodies may have there own limits or restrictions on what members can perform, but subject to these bodies regulations anything outside what I mention can actually be performed by any "Tom, **** or Harry"!

    Hope this helps
    Neil
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    Don't panic. Check the form out first. Presumably something simply concerning the payment of CGT or income tax on the profit. I deal with a view property companies and I would assume that it was it is. Take a look - can't be that bad!
  • PGM
    PGM Registered Posts: 1,954 Beyond epic contributor 🧙‍♂️
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    Or could it be stamp duty?

    I was reading about the ways to reduce that bill, by class parts of the property purchase as chatels, how dodgy a practise this is, I do not know.

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