One I have already emailed and said its too late and the other is all signed off and I am just waiting for a final payment before I press the submit button.
Then its nice and relaxing Feb/Mar and studying for my final written ATT exam in May for which I have chosen VAT (yippee)
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
I expect to still be quite busy with the normal Payroll and VAT but we also undertake reviews of our Ltd Companies prior to the 31st March year end. Must admit though the first reasonable day the PC stays off all day and its a walk on the beach.
65 later this year so balancing work/life a lot better then before.
BW
Jay
-- Edited by Jay on Tuesday 30th of January 2018 07:33:32 PM
Got my final one ready to submit...except the client just asked me to wait!!! This is my first year where clients haven't 'co-operated' and it's been interesting but fun :) Think I'll have a gin
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Janet
They keep making the system idiot proof but then make bigger and better idiots!
Hi Doug For some reason Ive had it my head the last couple of months that you are doing CIOT! How have you found the ATT compared to the tax parts of AAT?
Hi Jay Sounds like party time later this year! Dare I ask what neck of the woods? Only jealous that you are near a beach!!!!!!
Hi Janet Long time no see!!!!!! Sounds like fee increases are on the horizon for you - to fund the gin
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Hi Doug For some reason Ive had it my head the last couple of months that you are doing CIOT! How have you found the ATT compared to the tax parts of AAT?
Hi Joanne
Doing ATT at the moment, I was actually going to stop after the ATT Business Tax and Personal Tax but to be honest I have actually missed the studying so decided to take VAT as my optional written unit and do the 2 CBE (which are CIOT maybe that's where you thought I was doing it because I did actually start on these last year but never got round to taking the exams) and then with ATT finished I will hopefully move onto CTA.
I found the 2 tax modules a massive step up from the same that AAT give if I said 10 times harder I would not be exaggerating, after doing ATT I realised that AAT barely touched on the two subjects, but in saying that I would not have liked to start ATT without having the basic knowledge that AAT gave me.
Hi Jay
Big year for you and your 65th and also for me and my 50th, enjoy
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
I was pondering on the chartered tax. Also pondering on giving up all my clients just to become a (slightly) mature student so I have time for more Chartered exams.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I was pondering on the chartered tax. Also pondering on giving up all my clients just to become a (slightly) mature student so I have time for more Chartered exams.
Hi Joanne
Do you not think you could juggle doing CTA and keeping your clients ? They only have 2 exam sittings per year one in May and one in November
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
But they are hard exams that need six months prep for.
Personally, when it comes to CTA (or ACCA or ACA), providing that one has the resources available to them, I would go with Joannes idea of taking one step back to take a giant leap forwards.
.... I'm sure that at some stage we're all going to find ourselves working for her! ... Well, unless you are someone that didn't say thankyou to her on here and then it would just be a really interesting interview that I think that she could sell seats (and popcorn) for (well, got to replace the client income somehow! ).
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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.
Long time no see!!!!!! Sounds like fee increases are on the horizon for you - to fund the gin
Life's been a rollercoaster Joanne but I managed to hang on and I'm on track again Lack of experience with fees is being addressed...the gin stash from my 50th last year (12 bottles - what does that say about me!?!) needs replenishing
Submitted the last return at 3pm today. Have spent the evening looking at a partnership return for a bookkeeping friend, she's got a long way to go but at least everything balances now.
I'm off for a bit of moon gazing now and I'll see you all tomorrow...when I've got the OSCR R & P's balanced
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Janet
They keep making the system idiot proof but then make bigger and better idiots!
Long time no see!!!!!! Sounds like fee increases are on the horizon for you - to fund the gin
Life's been a rollercoaster Joanne but I managed to hang on and I'm on track again Lack of experience with fees is being addressed...the gin stash from my 50th last year (12 bottles - what does that say about me!?!) needs replenishing
Submitted the last return at 3pm today. Have spent the evening looking at a partnership return for a bookkeeping friend, she's got a long way to go but at least everything balances now.
I'm off for a bit of moon gazing now and I'll see you all tomorrow...when I've got the OSCR R & P's balanced
Its all a learning curve, so much we dont know but makes the job way more interesting.
lol on the gin bottles - made me think of the new craze of gin advent calendars - of course that then means you didnt have enough bottles! Although Im guessing yours were not miniatures!
Hic - think you have to be a bit of an alkie to do this job!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Live and work on the Isle of Wight. Bottom of the garden is the beach if you ignore the cliff drop !!
However only 50% of clients based here with 45 % mainland based, and the remainder resident abroad.
Yes it was sunny today, but did not get my walk, 2 new clients with 2016/2017 returns required.
BW Jay
Hi Jay
Gorgeous neck of the woods, so jealous! I once got stranded on an Isle of Wight beach after the engine of my borthers boat sucked up stones into the engine - that was fun! You are far then from Donna (Curling) and our newbie Melinda ( http://forum.bookkeepers.network/t64309115/best-path-to-take/ )
Must cost a fortune for your commute sometimes as those ferries arent cheap!
Hope you got your walk since. More chance there than here with another snow dump on Thursday and rain since!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Based in Shanklin, on the cliff walk looking over the bay, hence the cliff drop.
Not too much of a problem with ferries, can get a book of tickets at island rates so a bit cheaper.
However we use Skype and quite of lot of our clients save scans of paperwork etc to a secure cloud base which we have access to. We also have limited access to clients bank accounts.
The new clients came out of the blue, we no longer advertise as the majority of clients are now referrals. So working today just to get them out of the way.
Shanklin, beautiful place stayed there with my school many years ago and absolutely loved it.
Went to the IOW many times since then mainly to visit friends who were having unintentional holidays over there.
Last time I went was on holiday probably about 20 years ago with my daughter and my ex who managed to accidently drop her car keys into the Solent on the way back, had to explain to the crew what had happened and once we had docked had to wait for a forklift to come and remove the car with plenty of angry people who were parked behind and unable to get off the boat until ours had been removed, then a 3 hour wait for a locksmith to come and cut another ignition key before the long drive back to London.
Funny now looking back, but not at the time.
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
It reminds me of my time in Bristol back in the 80's though.. I used to wear really thick glasses that I hated. One day me and my mate were having a minor argument and he must have said specky four eyes or summat and I snatched my glasses off and threw them in the River Avon. Couldn't see a thing without them but fortunately had a contact lense that sufficed until I could get a new pair.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Usual last minute rush for us. Filed 63 returns in the last 3 days.
Last one was filed at 8.15pm on 31st so was an earlier finish than usual.
Had a client email me at 10.30pm on the 31st asking if we could still file his tax return. Luckily he didnt register until 23 November so has until 23 Feb to file and he signed off his return today so will get his submitted in the next couple of days.
Really need to get more organised for this year coming but say the same every year.
Though suppose worth all the effort to have £40k sitting in bank account as of today with all creditors up to date and monthly recurring DDs in place of £32k per month.
I remember Mark when you were working for someone else and then went it alone! You have done well.
How many people have you got working for you now?
Up until a couple of weeks ago had 5 people working for me (2 full time client managers, 1 full time CA trainee, 1 part time admin assistant and 1 outsourced payroll contractor).
One of our client managers was head hunted by another firm as we are quite IT based and they arent.
Spent most of last week interviewing mixture of people currently in practice, univ students for CA trainee position and college students for ACCA trainee position.
Probably will look to take on 2 trainees full time and 1 part time (one full time CA trainee and the other two positions ACCA trainees). We have made offers to 3 people, one has accepted, one has texted me tonight and said they will speak with their family over it and get back to me tomorrow (kind of put me off them as they have had a week to speak to family about it) and still to hear from other. So effectively we will have 1 client manager supported by 3 full time and 1 part time trainees together with our part time admin assistant and payroll assistant. So in summary will have 7 staff (4 full time, 2 part time and 1 outsourced).
Currently have about 225 clients with GRF of £250k.
Target for next 12-24 months is to get to 300 clients with GRF of £350k - £400k.
Target for next 5 years is to have 300 clients paying on average £3k each so have GRF of about £1m. Then the business will be complete and look to sell within 5 - 10 years (by which time will be in mid 50s).
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