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Friday, 29 June 2007 @ 3:57 pm (Chris Frost)Yesterday I had my very first appointment with an accountant, after putting off for a long time. I wanted to know (not understand) whether I was better off if I moved from a Sole Trader to a Limited company. It transpires after speaking to an accountant thats local to me, and to Keith from HRBS that it most probably is in my intresest.
With this in mind, my local accountant offered to sort out the incorporation on my behalf, but obviously at a cost. Now what you have to understand is when it comes to accounts, I suffer a major mental block. No matter who tries to explain it, or how, it is something I don’t understand, get easily frustrated and have no interest in. I even lived with an trainee accountant for 10 years and still couldn’t understand the basics.
So, the offer from the accountant was interesting but the price of it was a litle of a surprise. ‘One off price for the incorporation of your business is £1,250 plus VAT‘. This included incorporating my business, registering it for VAT, sorting out my bank account and preparing my first VAT return. I have since incorporated my own business with Companies Made Simple costing me £35.02 and have spoken to my bank to arrange for a new account to be opened. I think the rest I will hand over to HRBS as this is as much as my ickle head can put up with.
Keith has provided me with a breakdown of his prices, what he can do on my behalf, whats required of me and highlighted area’s that would be beneficial to me. Also on the plus side, Keith is active on the A4U Forums, although I am not sure as to what capacity, Affiliate or Merchant… but he has come recommended by a number of other affiliates which always give me confidence.
For someone nervous and completely lacking in knowledge in this area, it sure nice to receive details of an accountant that is recommended and that already understands this Affiliate Industry. As long as they speak to me in lamen terms, then it should be fine and dandy but to be sure I’ve also roped my old man into helping me. He used to be self-employed so is used to doing a lot of this stuff than I am.
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Jesus! That’s a hell of a price!! My company cost me about £99 back in 2003, I opened my own bank account, and my VAT returns only cost me a few hundred quid a year (for four of them). I guess that’s a case of taking as much as people might think it is worth.
I need a lie down after that ‘un, lol.