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Author Topic: Finding an escort friendly Accountant  (Read 10964 times)

HoneyB

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Finding an escort friendly Accountant
« on: 09 October 2010, 10:45:17 am »
Hello everyone!

Newbie member here, but have been lurking a fair while and have learnt lots from reading the boards and its a fab site.

Having searched the boards and picked up as much as possible about tax allowances, etc (shame the Escort Diary seems not be to available for this financial year), I'm thinking I need to get an accountant, but how do I find an escort friendly one?

Situation - I've registered with HMRC and sent off my DD NI form (not heard back yet though), have a separate bank account and am plodding along doing my books.  Being new to book-keeping I'm not even sure if I'm putting stuff in the right column! (Is photographer 'legal & prof fees' or 'other').  Maybe I'm over-complicating things, as I've got about 4 different spreadsheets to support the manual book!  :o

I want to make sure I am claming the right allowances too - mortgage interest relief, household bills, (and have done the proportionate bit and come out at 30%).  Also clothes and toys - I read on the HMRC site and also the Tax Reflief for Escorts site that you can't claim for clothes unless its a uniform? 

Hence, I think some professional eyes looking after my books would stop me worrying so much!  Any ideas how to find an accountant or do I just phone up a local one and be direct about my occupation?!

Many thanks
Honey

amy

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Re: Finding an escort friendly Accountant
« Reply #1 on: 09 October 2010, 02:24:51 pm »
Hi Honey and welcome to SAAFE  :)

There is a recent-ish thread here about finding accountants; it does depend to some extent on your location, I suppose, but any accountant should really be able to help - our business is not a complicated one and whilst it does ideally help to have someone with industry knowledge (there are still plenty of people out there who think prostitution is illegal, for example), it's not crucial and provided you keep your records properly I can't imagine you having problems. Accountants (and doctors, solicitors etc etc) are providing a professional service, and it is not their place to judge you.

The Tax Relief Diary I can ony imagine is not available because Jolyen has retired, although this is just a guess. You can easily make a record book out of a basic notepad though - you really only need to keep track of what has come in and what has gone out (with receipts, bills and so on) and your accountant will do the rest. I have one spreadsheet on the computer for expenses and you don't need too many sections, provided you keep your household stuff separate from the rest (I have Hotel/Travel, Advertising/Promotion, Clothing, Phone/Internet and Sundries (condoms etc) as well as a Miscellaneous section for oddbods.

As far as clothing goes (or any other expenses), you can claim for any cost which has been incurred entirely in the course of running your business, so civvy clothes would normally be a no no (as it could be argued that they would be worn for personal use too). I did have to buy a smart outfit for a particular booking a couple of years ago because I didn't have anything suitable, and I did put that through - the main thing to remember with any expense you claim is that you need to be able to prove it - I kept the ticket from the event I was going to on this occasion and it was fine.

If you do need to ask questions, the HMRC people are very helpful in the meantime. Good luck!

HoneyB

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Re: Finding an escort friendly Accountant
« Reply #2 on: 09 October 2010, 03:34:40 pm »
Thanks for your hep and welcome Amy  :)

Typical!  Thought I'd searched the boards thoroughly and clearly not!

I think I am worrying too much - as an example, I really need to get a set of coat hooks - it will be in the bedroom for hanging toys from, like floggers and paddles and if I buy one from Ikea I wonder if it will get questioned.  I also buy alot of toys (in the BDSM realm)  for the business which are quite costly.  I  just note all of these in the books and would feel happier if the Accounant decided what is and isn't allowed for tax purposes and hope that the 30% of nett profit I put aside for tax is enough!

I am using the "Tax Tracker Organiser", HMRC approved, but the column headers for expenses are not all useful for this industry, so I keep a separate Excel expenditure sheet for each month, plus all the receipts and bills.  The good news with this book though, is that its similar to the Escort Diary with having the diary, so a double page per week for diary, income and expense, then monthly and annual pages to fit the self assessment forms.

Arghgh!  I'm sure I spend more time on the books, than I do for anything else!

Honey

Friday

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Re: Finding an escort friendly Accountant
« Reply #3 on: 09 October 2010, 08:08:49 pm »
I have had 2 accountants o far and both have been nothing but proffesional when it comes to the industry i work in. I guess i cheated a little as i was a cam girl first and they just class it all as "entertainment" lol

You have to be honest wuith your accountant so they can understand your costs etc

all you can really do is phone a few up, say what you do, if they're still happy too meet for a chat then do so and see what you think. I can imagine most girls look for female accountants but my first was a man. why do i think lady accountants are more likely too look down on you lol

end of the day the tax man doesnt care as long as you declare.. lol  ;D


Lushious Louisa

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Re: Finding an escort friendly Accountant
« Reply #4 on: 09 October 2010, 08:38:41 pm »
When you called HMRC to register did they not mention their "Becoming self employed" course?
Its a one day course and they teach you how to do it all yourself  ;D

IMO no need for an accountant I do mine myself, its not hard and easy to fill in online in December  ;)

My advice? Call them back and ask about going on the course, its free and the guys who do it our VERY helpful  ;D

HoneyB

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Re: Finding an escort friendly Accountant
« Reply #5 on: 10 October 2010, 12:30:02 pm »
Thanks ladies.

I've been recommended an accountant or two locally through other SE people I know (but other industries), so have those in mind, but Louisa makes a good point - I registered over the net with HMRC so hadn't thought about their courses.  I will chase them up as haven't got my reg. number yet nor have the NI DDs started and will see about attending a 1 dayer, sounds like a good idea.

If I've read the SA stuff correctly, will only have to provide gross, expenditure and nett figures anyway.  Is that other people's experience?

kerst

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Re: Finding an escort friendly Accountant
« Reply #6 on: 26 April 2011, 03:28:58 pm »

If I've read the SA stuff correctly, will only have to provide gross, expenditure and nett figures anyway.  Is that other people's experience?

I know this is an older thread, but hope it's ok ettiquette here to answer something unanswered!

That's right, if your turnover is under ?70,000 you can just submit "three line accounts" on the short self employment pages of the tax return, you don't have to break it down by category. If you get an accountant, to do a 'proper' job they will want to see the workings behind the figures to make sure they are saving you as much tax as possible and indeed getting it right  :)

The HMRC courses are good, and free - but bear in mind that they will be talking from their point of view, which although is allegedly to make everyone pay the right amount of tax, invariably they do give advice that goes in their favour, whereas an accountant works for you and will know things to lower your tax that the taxman won't tell you.


KirstyPink

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Re: Finding an escort friendly Accountant
« Reply #7 on: 01 May 2011, 06:36:18 am »
Hi Ladies,
Have read both threads, very helpful but just wondering where to begin with all this, when do you contact the accountant straight away? Only once you have a list of incomes and outgoings? (and if so for what period, monthly, annually etc)
Also please can some ladies advise what they are registered as or what is the best thing to register yourself as?

Thanks in advance  :)

courtesanannabel

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I have a great accountant - fab advice and saves me money
« Reply #8 on: 21 May 2011, 12:08:50 pm »
To add to this forum on accountants for escorts, and other adult related industries

I am an escort and have been for many years, always had an accountant - not only saves me money and I pay little tax, he is a great business advisor - gives great advice, suggestions and will even get a website designed for you.

his website is www.escortaccountant.co.uk  and his name is Mark, if you would like his number please get in touch, he is East Midlands based, everything can be done by phone or email, however you need to meet once for money laundering and ID check.

Regards

Anna :)


EmilyJones

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Re: I have a great accountant - fab advice and saves me money
« Reply #9 on: 21 May 2011, 02:21:39 pm »
his website is www.escortaccountant.co.uk  and his name is Mark, if you would like his number please get in touch, he is East Midlands based, everything can be done by phone or email, however you need to meet once for money laundering and ID check.

Why on earth are there pictures of semi-naked women on his website? I've already had problems with an accountant having a few "boundary issues"; you might want to advise your guy that his website is off-putting and unprofessional (it's a free one, too!), especially to those of us who are already very cautious about who we pay to help us.

(Sorry - just giving my honest opinion. No personal offense meant as I obviously don't know him or yourself personally!)
Disclosure: The other person behind yourescortsite.com

amy

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Re: I have a great accountant - fab advice and saves me money
« Reply #10 on: 21 May 2011, 03:54:42 pm »
his website is www.escortaccountant.co.uk  and his name is Mark, if you would like his number please get in touch, he is East Midlands based, everything can be done by phone or email, however you need to meet once for money laundering and ID check.

Why on earth are there pictures of semi-naked women on his website? I've already had problems with an accountant having a few "boundary issues"; you might want to advise your guy that his website is off-putting and unprofessional (it's a free one, too!), especially to those of us who are already very cautious about who we pay to help us.

What she said.

If there was a prize for the most unprofessional, inappropriate and downright offputting website in the industry (or more accurately for someone who is not a part of the industry but obviously desperately wants to be - why on earth would a professionally qualified accountant limit his clientele to one sector anyway?) I think we have a winner. I don't know where to start, to be honest, I think I may actually be speechless. I've just had to look again make sure I wasn't seeing things. Is this seriously this man's idea of an suitably professional approach to people's tax affairs?

One thing I will say as we wait for the man himself to arrive (which my money's on, at least although he will not be able to post here), he ought to know better than to purport to give legal advice. Especially when it's completely misleading - there is never a situation where working as a prostitute is not legal, whether you are 'doing it right' (as he puts it) or not.

The real pity out of all of it is that if he actually is a good accountant, he's doing himself no favours with this horrible, tawdry, badly-spelt rubbish - I would run a mile. More than one, in fact.

strawberry

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Re: Finding an escort friendly Accountant
« Reply #11 on: 21 May 2011, 07:13:00 pm »
I have Jolyon's 2011-12 Tax Diary, bought it a few months ago so he might still be around. I claim for most lingerie - being stockings, basques, suspender belts since I don't wear them in my personal life.

HoneyB

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Re: Finding an escort friendly Accountant
« Reply #12 on: 21 May 2011, 09:21:36 pm »
Yes, I noticed the Tax Relief Diary was back, which is great news.  Was there some lobbying and lots of requests I wonder?

I've continued to do the books myself here with some advice from an accountant or 2 on specific points and am happy with where I am.

I also went on the 1 dayer HMRC course which was fairly useful, though didn't learn anything additional to what is on their website.

Biggest headache has been the length of time trying to get through to HMRC who then couldn't answer the question I had and referred me back to the website...which didn't answer it either, hence why I phoned them!!  Am doing my tax return on line as well - they sent the full Self Assessment forms through on paper, but if do it online, it'll automatically filter everything else out and I should only need to complete the 3 boxes (as under ?70k turnover).  I hope this is the case, as yet to do it!

All is good :)

Honey