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Old 18-07-2008, 12:03
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James Smith James Smith is offline
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Just thought I would raise my eyebrows rather highly at:

"Accountant said it would definitely be beneficial (if profit of over £5000) after taking into account his fees."

and: "the accountant said it would be best if I wasn't a director/secretary in my company"

Are you sure? All sounds rather odd advice to me.

Do remember that "accountant" is not a restricted term, the word "chartered" is restricted by entry into a professional regulated body. I should point out for balance that there are fortunately lots of good unqualified accountants out there and some pretty poor chartered ones too before I start a bun fight. Our profession is a bit of a mess quite frankly from that point of view in that you can fail your exams, and/or get kicked out of your professional body, and then just start up/carry on your business anyway!
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