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Need an accountant for mortgage documents

  • 16-11-2009 1:07am
    #1
    Sashy
    Closed Accounts Posts: 48 ✭


    Hi, I need some advice on what to do next. I have my own small business which has been going since Jun 08, everything is going welll with thankfully. Up to date my cousin has been helping me with my book keeping and helping me with paperwork etc as she did this before for an ex partner. She also did this work with the assistance of an advisor with FAS under the back to work enterprize scheme that I am currently on.

    Now thing is, I need to get an accountant to go through this as me and my partner are in the process of applying for a mortgage. We need someone that has a TAIN no, any suggestions for this, we dont want to pay an arm and a leg as everything has more or less already been done. Currently I am working under income tax the p11 form, file and pay system. I am not a huge business but I may need to register for Vat this year as my earnings are a little higher.
    My cousin will be still doing the book work throughout the year, is this ok?

    When an accountant gets these documents, what do they have to do? Are they just basically checking and summerising what already has been done? Also how long would this take as I need to get documents for bank asap. I understand that I will have to employ an accountant for me for future filing of returns etc.


Comments

  • #2
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    You don't need to be an accountant to get a TAIN number. Your cousin could get this I'd imagine.

    And if you want a really cheap accountant the Revenue will happily prepare the accounts for you if you give them your books etc - Not that I'd recommend it mind! :D

    You'll need an accountant for the Banks though. For an accountant to stand over the accounts he will have to either rely on the book-keeper's work and prepare a final set of accounts if they can or start from scratch if not. Timing etc is very much dependent on the complexity of the work involved and the capacity of the accountant you take on.


  • #3
    mickbyrne
    Closed Accounts Posts: 164 ✭✭mickbyrne


    The bank will want an accountants report signed by a qualified accountant in practice. From recent experience that banks are getting very difficult (especially with self employed people) to deal with and the underwriters are raising the bar constantly. I'd imagine that if you drop in your income tax notice of assessment along with you books and backup documentation to an accountant, they should do it for approx the €250 mark.

    There is probably a half days work in reviewing and checking the documents and now that the income tax deadline has passed most practices should be able slot you in.

    In theory you can continue filing your own returns when you are self employed, although I would advise against it.

    Regards,
    Michael
    www.perspective.ie


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