Lorrainelovesplants
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certified accounts - advice pleasecan someone define what this means?
If Ive been asked to provide certified accounts, but I do the books myself, then how can I provide certified accounts?
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Silas
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Re: certified accounts - advice please | Lorrainelovesplants wrote: | can someone define what this means?
If Ive been asked to provide certified accounts, but I do the books myself, then how can I provide certified accounts? |
Are you a limited company?
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welsh veg grower
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From my understanding - Certified accounts are just those accoiunts certified by an accountant. This is usual for Ltd companies most sole trader type companies dont provide certified accounts for tax purposes etc. But you may need certified accounts if you are trying to rasie a loan etc.
maybe you could let us know why or who has asked you for them and someone may be able to help some more.
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Penny Outskirts
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Certified Accounts, (not audited accounts), are those done by a chartered accountant.
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Lorrainelovesplants
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Because OH has been made redundant, we were told we could claim help with paying council tax, but because iam self employed they want certified accounts from me.
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vegplot
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| Lorrainelovesplants wrote: | | Because OH has been made redundant, we were told we could claim help with paying council tax, but because iam self employed they want certified accounts from me. |
Tell them you can't provide certified accounts as you don't use an accountant. You may find they'll simply ask for your books instead.
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Silas
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If you are self employed, a copy of your tax returns should suffice.
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welsh veg grower
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yep they just need your tax return from what I understand, good luck
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Helen_A
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Local council just take the figure from my tax return.
Ben. Agency are supposed to do likewise, but you'll need to talk to the specialist SE worker to find the person who knows, unless the person you talk to has had the training or common sense to realise that the box on the screen in front of them is only half the story.
Oh - and you'll need to declare your earnings every fortnight, just as if you were signing on - we learnt that the hard way a few years back because no one thought to tell us (even the SE person didn't know....)
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Lorrainelovesplants
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What a pallava!
 
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BadBoyClub
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'Certified accounts' do not have to be supplied by an accountant per se. The idea of the accounts being 'certified' means that someone is stating that 'These accounts are correct' & putting their name to them. This basically indemnifies the person requesting the accounts against the person providing them.
If you were to buy a business as a going concern with a gross profit of £100,000 & had certified accounts, the person signing the accounts is the one who states that the profits are true. If you were then to buy the business & found that the profit was only £25,000 you would then have full & proper legal recourse against the person signing the certified accounts as being correct.
An accountant will always include a disclaimer to anyone's accounts saying that the figures supplied the them are via a 3rd party & you (as the 3rd party) will be required to sign to say they are true to the best of your knowledge.
Basically 'certified accounts' are accounts 'guaranteed' to be true by whoever signs those accounts.
I pulled out of the purchase of a business as a going concern as the vendor was reluctant to provide certified accounts, it's your 'safeguard' as the person requesting certified accounts that someone is held responsible should the accounts prove to be not accurate.
HTH
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Midland Spinner
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I need to find a smaller (i.e. cheaper) accountant.
We used to use an independent accountant, he was a friend and ex-work colleague, but after a few years he wanted to retire and sold the practice to another independent accountant.
This chap then merged with another firm, which was later bought up by a huge (biggest in the area) accountancy firm.
Our bills have gone up a lot over the years, but our turn-over hasn't! (and the service is nothing like it used to be when we were with the friendly independent chap, these days I think we have our accounts done by the office junior because we are the smallest client). One year they "accidentally" added £100 + VAT to the bill - apparently it was "a numerical error" - not what I want to hear from the accountant!)
I want to find another accountant but don't want to risk finding someone worse. Can anyone give me any advice please?
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Penny Outskirts
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Have you tried talking to other local small businesses? They may know of someone.
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