We're Closing Down

Closing Down size

It is with great regret that we announce that miltiadou|accountancy will cease trading from the 1st January 2014.

We embarked on this journey with a view to creating a quality focused and technologically led accounting firm, able to provide customers with excellent quality service for exceptionally low cost.

Indeed, we have been successful in doing so, generating small profits whilst keeping the majority of our clients happy.

This has not, however, been without its problems. HMRC have caused us no end of issues with extremely poor systems and a myriad of bureaucracy that would bewilder the staunchest council worker. We’ve been shouted at in the street for no reason other than to cause distress. We’ve had windows broken by those consumed by alcohol.

And then we’ve had a number of clients that have failed to make payments on accounts. We could understand this if there were concerns over quality or if they felt the amounts we charged were too high. This is not the case, we have saved these clients thousands of pounds in tax payments and charged considerably less than any of our competitors, even those doing so as a hobby and without business premises. Some of them were even relatives.

We have had to absorb over £10,000 of unpaid accounts over the period of our existence, a staggering amount for a small, independent accountancy firm to absorb. Perhaps we could have vetted clients better, implemented a harsher method of chasing outstanding balances or reduced the quality of the work we complete, providing the bare minimum and pushing clients further for payment.

That goes against our initial vision and turns the company into something we never wanted it to be. So we simply fell out of love with the sector. Whilst we still carry out contracting work for larger, multi-national organisations, they value the work that we perform. They understand that they are getting an exceptionally high quality service for a fee less than they could imagine. They feel grateful for our output.

Thus, we will not be accepting any more accountancy work from private clients. We will endeavour to complete all paid up pieces of work in time for the 31 January 2014 deadline, continue chasing the outstanding balances for work completed and then we will close.

Existing clients will, over the next few days, be receiving a letter outlining our exit plans, laying out exactly what we will be doing for them over the near term horizon.

A special thank you to the good guys, the ones that paid, the ones that understood what we were trying to do. To the rest, we hold no grudges, we only feel pity that you didn’t understand what we were trying to achieve, the greater good that we were trying to strive for.

Kind regards

Stelios Miltiadou