As barristers, you are in a unique position in that your practice is serviced, and accounting is done for you, in Chambers. Diaries are maintained, cases are allocated, solicitors are billed, debtors are chased. All these services are provided at a cost to you, generally a percentage charge of your fees, perhaps a fixed room rent, and other expenses which Chambers pay on your behalf and recharge to you.

Three years ago now, HMRC introduced MTD for VAT, whereby businesses trading above the VAT threshold were required to maintain their accounting record digitally, and use systems to transmit VAT return figures. In April 2022, this extends to businesses trading below the threshold. and will extend further to Income Tax in April 2026.

There will be many voices telling you that you need to ‘go digital’. This involves you signing up for a cloud based accounting system and becoming your own bookkeeper. That’s fine, but the reality is that you are already digital. All your accounting is done digitally for you, in Chambers, by Bar-Stat. Add in any out of pocket expenses which chambers doesn’t know about and good to go.

Bar-Stat.Online is the mechanism for you to enter any out of pocket expenses. It’s a simple web portal for this one purpose. It works on mobiles, tablets MACs and PCs. You only need to record the expenses Chambers doesn’t know about.

We merge this with your Chambers data, and transmit to HMRC. We’ve done many thousands of these now.

Like everything else, the charging structure is simple. For VAT compilation and transmission, the charge is £50 per quarter . For simple ITSA, £50 per month, (£500 per annum). If you have other significant business interests, we may need to charge more, but it won’t be a lot. Costs are low because we operate super-efficiently, maximising existing sources of data and using the best available tools. Our people are pretty special too.

Frankly, it’s a no brainer. We’re good at what we do, and our ethos is to provide an incomparable service. Simply sign up by going to www.bar-stat.online and sit back, secure in the knowledge that your accounting is in safe hands.

Email us for further information.

Create a no obligation account and have a look: www.bar-stat.online