Accountant Monthly Fee & Being on the Bench

[Peter Loew]

Hi all,

I am in the process of switching to LTD, however I have 6 weeks left on my current contract. I plan to invoice for those 6 weeks and then I am planning for a couple of months on the bench (might take a while before I can find my next contract too, it would be my second one).

However despite whether or not I am on a contract, I still have to pay the monthly accounting fee. If not working then this seems like a waste of money, though it has been explained to me that the same "work" is required of the accountant whether I am actually working or not.

Question is, is there some way around this, or some way to save money on these monthly fees when on the bench? It seems like dead money if there is no company income.

P

[Cowboy Bob]

As you have been informed, you still have to run the full PAYE cycle whether you are paying yourself or not - everything has to be filled in with zeros. So it is, in fact, the same work for your accountant, hence the fee is reasonable.

[Epiphone]

You pay it monthly because your accountant has kindly let you do so. You'll more than likely find it's a set fee broken down into monthly payments.

You could always pay the full price at the start of the year, you're paying the same amount at the end of the day (or month).

[Bluebird]

or else you could carry on working you lazy fecker.

[Peter Loew]

Irrelevant!

[TheRightStuff]

Irrelevant!

are you. never mind.

[Bigbird]

Or you could find an accountant who only charges you for work done.......

[philip@wellwoodhoyle]

Or find an accountant that charges a reduced fee for months when you have no work/transactions.

[Bluebird]

or do it yourself