just had a call from a client, she needs an overpaid tax return, she went from emplyment to another, but was given BR code. She has P60 and P45. And being honest, I've never done it before, and struggling to find where to start...
Is there any form from HMRC to fill? or do I need to writet a letter to HMRC?
She wouldn't fill in a tax return if she has just had a couple of periods of employment. You have to register to be part of self assessment, you can't just send a form in. If you have a read through this link, it is far easier to write to the tax office setting out her tax and earnings details and providing copies of evidence.
If we can be so bold as to ask, who are you with Agnes? Is it an accountancy or bookkeeping franchise? What are your views on franchising now that you are part of it?
I know that a lot of people on here have looked at that pathway and it would be good to get the inside track from someone who knows rather than merely from those that are selling the franchises.
Actually, maybe not a good idea to tell us which franchise then or you may get your botty spanked by them for blabbing but all the other questions remain valid.
P.S.2 the above link also has an inbuilt link to Jenny's page on overpayment through employment.
-- Edited by Shamus on Thursday 26th of May 2011 10:56:31 AM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
When I was doing my AAT exams, I found out that something like franchising exists. I mean, a friend told me about McDonalds, Costa, etc, I started my research and found few book-keeping franchises. I contacted them all, prices are from £5k to £35k..... That seemed to me like perfect way of starting my business. With all the support they offered ;). I went for low cost franchise. And maybe that was a mistake, because the 'ongoing support' finished very quick ;). In fact, I learned a lot about setting up the business, advertising, business networking (never heard of it before), etc. But if I would go for some kind of 'start up your own business for dummies' course would be a lot cheaper. Franchisor offered also 'work experience in busy accountancy office', and I ended up copying numbers from excel to excel.... Not learning about job at all. I have to say, it is not that beautiful as they say in the adverts. I know other franchisees, who are not happy. 3-4 months on, and they still have no business cards or leaflets which were promised in the contract. If anybody wants to go for franchise, I am ready to have a chat and help with choosing the right option :). And share my expensive experience :).
No, just data base of 1000 local companies and sole traders, which I suppose to contact and offer them my service. I have been told to do mailshots, did spend lots of money on it, and from 500 letters got 2 clients so far....
I think that many franchisors make more money from selling franchises than selling products and services. Fingers crossed you will at least recoup your investment over the franchise term at the end of which I presuume that you can just rebrand and move on without franchise fee's.
In glass half full mode (as I normally am despite how some of my posts read) at least going down the franchise route has got you started and getting the ball rolling is half the battle. Also, you could have gone for the other end of the market and still ended up with the same poor service from your franchisor so just look on the variance between the money spent and saved as profit.... Admitedly profit that you can't spend but still better than your money being in a Franchisors pocket.
I'm sure that there will be many follow up questions from others insterested in this business model.
many thanks,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Well I guess 2 is better than none, does rather sound like you're on your own with that one, but then of course I don't know what was promised in the original agreement.
At least you've found this place, everyone is very helpful, and it's very free!
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
WHAT.... You mean that there isn't a cheque in the post from the site admin team!!!!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I must say that I found lots of helpful informations on this forum. Hopefully one day I'll be able to answer the questions, not only ask the silly ones.... Oh, wait, I can start now!!! unfortunately about franchise, not much about profession, but still ;)
I must say that I found lots of helpful informations on this forum. Hopefully one day I'll be able to answer the questions, not only ask the silly ones.... Oh, wait, I can start now!!! unfortunately about franchise, not much about profession, but still ;)
You'll get there.
I would certainly be expressing my disapointment with the company you're dealing with if I was you.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
As an ex-Business Bank Manager I have lots of experience of dealing with Franchisors (across all industry types) and like all walks of life there are good and bad.
Invariably and unfortunately for the Franchisee I would too often see ridiculous amounts of money charged for little more than notional goodwill (bankers don't like goodwill - you can't touch it) and a nice bound 'operations manual'. I have to say the only people making money initially were the Franchisors and the bankers - don't hate me, I left, but that's another story.
I know some Franchises are successful and there are a couple of owners who post on here so would be interesting to have their point of view.
Anyway back to the OP I wish you all the very best and I am sure you will have gained something from the process - you are very welcome here.
And back to the original question, I had overpaid tax through PAYE, phoned up the local tax office and two weeks later got a cheque through the post. Actually I was very surprised how easy it was and made me think if it is so easy why don't they do it automatically? Well, we all know why not ;)
The problem I've seen with franchises - and I'm not saying this is the case here - is that sometimes people see it as a sure fire way to operate a business. They don't always take responsibility for the operation of the business. In many respects, they view it as a 'branch manager' type of arrangement.
I have to agree with shaun's comment, the only people who tend to make out of franchises are the people who set them up.
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