Dodgy accountant?
Discussion
Need a bit of perspective guys.
I've used the same accountant for a few years. ICEAW, well priced but a bit iffy on advice, which I've been ok with until now.
The problem now is that he is running within a few days of deadline for VAT returns and I'm not 100% sure he is doing the EC sales list in time. I send him all the data within a couple of days, in the format requested by him, of the period end.
Most recently I've received a Companies House letter rejecting the annual accounts submission. It's not a complicated setup.
From my POV he is falling well short of standards. I'm looking at a new accountant but do you think this is worthy of an official complaint? Hopefully I'll sort the current issues first but am I right to feel hard done by?
I've used the same accountant for a few years. ICEAW, well priced but a bit iffy on advice, which I've been ok with until now.
The problem now is that he is running within a few days of deadline for VAT returns and I'm not 100% sure he is doing the EC sales list in time. I send him all the data within a couple of days, in the format requested by him, of the period end.
Most recently I've received a Companies House letter rejecting the annual accounts submission. It's not a complicated setup.
From my POV he is falling well short of standards. I'm looking at a new accountant but do you think this is worthy of an official complaint? Hopefully I'll sort the current issues first but am I right to feel hard done by?
A lot of people choose their accountant based on price and so, like with lots of things in life, you get what you pay for. I know a couple of accountants who are dead cheap but end up running around like blue-arsed flies because they have THAT many clients they need to work for in order to earn a decent crust.
Incompetent doesn't mean dodgy. However if he isn't ensuring you comply with your legal requirements then he IS failing in his duty to you and possibly it merits a complaint. Get a new accountant, get all your paperwork transferred, and then lodge a complaint. You've got nothing to lose.
Incompetent doesn't mean dodgy. However if he isn't ensuring you comply with your legal requirements then he IS failing in his duty to you and possibly it merits a complaint. Get a new accountant, get all your paperwork transferred, and then lodge a complaint. You've got nothing to lose.
mybrainhurts said:
I'd make sure Companies House hasn't cocked up before you start firing weapons.
Indeed. I plan to sort the current situation if at all possible but won't be using the same accountant for the next year end.From my POV my situation is so simple that I don't need to pay a premium but guess I've been proved wrong this time.
Thought there had been a few instances of companies house rejecting accounts due to queries over new format? At the end of the day if you don't have confidence in your accountants you may as well change now. The whole relationship is premised on trust (on both sides). Sadly (as I am an accountant!) it's impossible to judge whether we are any good until you have signed up!
trickywoo said:
Most recently I've received a Companies House letter rejecting the annual accounts submission. It's not a complicated setup.
I'm guessing you're a Micro Entity? If so, don't be too hard on your accountant on this point, Companies House have been incorrectly rejecting accounts for Micro Entities that follow the new 'S444 filleted' format perfectly well. If you supply your accountant with your company's authentication code, they can submit them directly via the Companies House website, which will (assuming they are submitted correctly) prevent this happening again.edited for typo...
Edited by LeighW on Monday 4th September 12:09
LeighW said:
I'm guessing you're a Micro Entity? If so, don't be too hard on your accountant on this point, Companies House have been incorrectly rejecting accounts for Micro Entities that follow the new 'S444 filleted' format perfectly well. If you supply your accountant with your company's authentication code, they can submit them directly via the Companies's House website, which will (assuming they are submitted correctly) prevent this happening again.
Thanks and yes, right at the bottom of the micro scale. This makes sense and hopefully easliy resolved. My concern was not just around the rejection but a general fall in standards over the last year or so. I really don't like going into the last week of the deadline for returns as it gives no leeway for errors. Seems unnecessary particularly given the simple nature of my accoutns and the fact I provide everything in the format requested within a few days of period ends.
I think he may have taken on too many clients with a view to cashing in as much as possible ahead of retirement, so probably a good time for me to look elsewhere anyway, once the current issue is resolved.
Ther format of company accounts has changed in the past 12 months and Companies House now expects submitted accounts to be in line with the new requirements.
You will obviously have signed off the acciounts so, in law, it is you who will be held responsible for them if they are not correct.
Do you know off hand what "blurb" (technical term) describing how the accounts are prepared is stated in the formal accounts? "Old style" accounts were prepared in relation to the Financial Reporting for Smaller Entities (FRSSE) rules. New style will normally be prepared under the new Financial Reporting Standard 105 (FRS105) .
Have a look at the accounts and see what they say. That might explain why they were rejected.
You will obviously have signed off the acciounts so, in law, it is you who will be held responsible for them if they are not correct.
Do you know off hand what "blurb" (technical term) describing how the accounts are prepared is stated in the formal accounts? "Old style" accounts were prepared in relation to the Financial Reporting for Smaller Entities (FRSSE) rules. New style will normally be prepared under the new Financial Reporting Standard 105 (FRS105) .
Have a look at the accounts and see what they say. That might explain why they were rejected.
Eric Mc said:
Ther format of company accounts has changed in the past 12 months and Companies House now expects submitted accounts to be in line with the new requirements.
You will obviously have signed off the acciounts so, in law, it is you who will be held responsible for them if they are not correct.
Do you know off hand what "blurb" (technical term) describing how the accounts are prepared is stated in the formal accounts? "Old style" accounts were prepared in relation to the Financial Reporting for Smaller Entities (FRSSE) rules. New style will normally be prepared under the new Financial Reporting Standard 105 (FRS105) .
Have a look at the accounts and see what they say. That might explain why they were rejected.
The reason S444 filleted accounts have been rejected (assuming this is what have been submitted in this case), will be that Companies House have assumed them to be abbreviated accounts, which are no longer accepted, and thus, rejected them on the basis that there is no P&L account. They state that in the absence of a P&L account, there should be a note on the balance sheet stating that they are filed under S444, and that there is no P&L included. However, if you file Micro accounts directly via Companies House website (by entering the figures manually), you will notice that their own accounts format does not show this disclosure either, but these will obviously be accepted. Been there, have T-shirt. Our accounts software provider (Sage) have been in 'discussion' with Companies House for some time over this, it is a known issue.You will obviously have signed off the acciounts so, in law, it is you who will be held responsible for them if they are not correct.
Do you know off hand what "blurb" (technical term) describing how the accounts are prepared is stated in the formal accounts? "Old style" accounts were prepared in relation to the Financial Reporting for Smaller Entities (FRSSE) rules. New style will normally be prepared under the new Financial Reporting Standard 105 (FRS105) .
Have a look at the accounts and see what they say. That might explain why they were rejected.
Companies House are (or were) having an arse/elbow issue.
Countdown said:
A lot of people choose their accountant based on price and so, like with lots of things in life, you get what you pay for. I know a couple of accountants who are dead cheap but end up running around like blue-arsed flies because they have THAT many clients they need to work for in order to earn a decent crust.
My experience is that price and quality isn't closely linked. One particular firm sacked us as a client as we declined to pay for advisory work that we didn't ask request or need. Apparently there was no escalation process for complaints as it was a partner we were complaining about. They also made a complete balls-up of our accounts and told our AAT trainer that she had got it wrong when she pointed stuff out.
As our business grew we needed more than smaller firms (who typically did great work) could offer and went through a few duds until we found a larger practice who fit our requirements.
Had a bizarre experience with local accountancy firm which I've always thought was reputable.
Initial meeting was good, professional and prompt reply. As per agreed on initial meeting we would await confirmation from solicitor.
He wanted to keep hold of some documentation and statement which I think is fair enough.
Confirmation was received almost a month ago and despite repeated attempts from me to contact him both via email and phone I only managed to get through once 2 weeks ago. Promised to come back to me last week which he didn't.
Not sure what is happening but I've definitely lost confidence in this firm. Just want to get my documents back and move on.
Initial meeting was good, professional and prompt reply. As per agreed on initial meeting we would await confirmation from solicitor.
He wanted to keep hold of some documentation and statement which I think is fair enough.
Confirmation was received almost a month ago and despite repeated attempts from me to contact him both via email and phone I only managed to get through once 2 weeks ago. Promised to come back to me last week which he didn't.
Not sure what is happening but I've definitely lost confidence in this firm. Just want to get my documents back and move on.
Eric Mc said:
What about making use of the new style "ABRIDGED accounts", which are allowed.
It depends on whether you wish your P&L account to be available for all and sundry to view or not. In general, I find that clients prefer it not to be. Out of interest Eric, what do you generally file for Micro Entities under the new regime, filleted or abridged?Gassing Station | Business | Top of Page | What's New | My Stuff