Find out here about:
– the partnership between us
– the cost of the accounting package
– what services you get for your money!
YOU AND ME – the partnership
You can choose what you think you need from the services below, and/or contact me and we can discuss it. We will both sign an engagement letter that states everything we agree on.
* You can change your services for more or less at any time during our agreement, allowing for the notice period we’ll both agree on.
* You’ll have a specified amount of free advice all through the period of the agreement, when I’ll be available to talk about your situation in specific detail.
* We’ll sign up for a minimum period of a year – to allow us to get to know each other properly! – but either of us can terminate it if we’re not happy, after 6 months with 90 days’ notice.
* You’ll pay in monthly instalments, rather than once a year. This helps the cash flow planning for both of us, and makes sure neither of us is left with too much to do, too late.
I will always let you know what I need from you, clearly and promptly, and what I can provide in return. We will both agree on costs and reasonable timescales at all times. Be reassured that I run my business with total integrity and honesty – and will expect all my clients to do the same.
The usual starting point is £25 a month, equating to only £300 a year. That’s the minimum you’d pay for any professional accountant to sort your affairs at the end of a year.
NOTE: Q&Q is currently offering a set-up package for authors newly published. For £60, I will organise your registration with HMRC as a new self-employed business, act as your confidential agent with HMRC, apply for NI exemption on your earnings, apply for online access for your tax returns, complete your W-8BEN (if you’re working with US publishers), and help you set up your income and expenses records.
I am then offering a discounted rate of £20 a month to continue as your tax agent and offer an ongoing resource for your business.
With QUIDS & QUILLS, you get support all through the year, and when you need it!
What QUIDS & QUILLS can do for you
– I can help you register with HMR&C as a self-employed author, and all that entails. I’ll do the work, but will keep you informed every step of the way and explain what will be required each year.
NOTE: this will involve registering me as your confidential agent with HMRC.
– I can provide you with a summary financial statement* at the end of the tax year for you to submit to HMR&C on a Self Assessment form, and explain where and how this should be reported. I can act as your liaison with HMRC and file your return online.
*You will need to supply me with the necessary details on an ongoing basis, but I’ll provide a useful and user-friendly spreadsheet for you to keep control of this.
– If you are publishing with a US publisher(s), I can guide you through completing the relevant W-8BEN tax form for your publisher, to avoid any withholding tax.
– I can create a Royalty Summary* for you, and update it monthly or quarterly. This will include collating and summarising all your royalties, including those in foreign currency, and providing you an ongoing, cumulative report of how each book is doing.
– I can create a quarterly Accounts Statement* for you, showing your income, expenses and profit for the period. This will show you how you’re doing overall as an author.
– I can help you complete your annual Amazon KDP tax interview (if applicable).
– I can provide you with an hour’s free advice a month, which can be flexible over the year. You can contact me to ask anything about your accounts: for example, further analysis of your books / information about new releases to be added / what you can claim against your income / advice on incorporation / advice on submitting information to the tax authorities.
NOTE: Of course, I can only talk to you about your books and accounts, I will never quote any other client’s personal information.
– I can help you decide whether you want to continue as a self-employed author or convert your business to a limited company.
– The service will cover a portfolio of up to 20 books and/or 5 separate publishers.
– And the cost can be claimed in full as an expense against your royalty income!
EXTRA SERVICES are flexible according to your needs and can always be negotiated. They’ll be billed separately according to the time spent. This may include:
– help with transferring your business to a limited company.
– advice on a specific project that falls outside the standard terms.
– additional reports on your portfolio and the books’ profitability.
– negotiation with HMRC on specific taxation payment issues.