fees for accounting

[Little'Old Me]

I spend a lot of time learning new technologies and keeping my skills current, but I wouldn't get away with charging a grand for an hours work. Don't accountants just key stuff in to Sage and press a button?

I wish! But then I don't charge a grand for an hours work - £25-£250 depending on what I am doing.

For example I charge £65.00 to do a company annual return. It sounds a lot if you can do it yourself. Some would say that a lot just to press a button.

But that includes the annual return fee of £15.00. So that leaves £50.00 - I use a Software package to submit it, which cost me about £20 per company. (The package also allows me to pdf the return and e-mail it to the directors to check the details, and so they can have the information too. Directors can have copies of any of the records when ever they want in file form). So that's £30 for me to make sure its correct, e-mail it to the directors, make any changes, and then submit it.

Doesn't sound so high now does it.

[philip@wellwoodhoyle]

I reckon it can't have taken him more than 1 hour (top side). That's not a bad rate - guess most of us on here would be happy with that sort of gig. I'm thinking about re-training

In just an hour, he won't have even completed the planning checklists! At the very minimum, you're looking at 3-4 hours for the simplest of jobs - even a dormant company with no transactions will take a couple of hours. For a client with good book-keeping etc., we usually plan to allow 5-10 hours.

[EchoSierra]

I pay £800 (incl VAT) which includes payrolling, VAT, PAYE/NIC, etc. I'm taking some of these things on board myself and have become proficient at payrolling (payslips), VAT, PAYE/NIC. I intend to do my annual return (363a) myself and submit electronically and once I see how the company accounts are done I plan to do it all myself and dispense with the accountant.

[JOE]

Look for an accountant who is new in business. He will be less expensive and you will get more of his time.

[bledubd]

Fairly new to contracting. Just done my first ever final year accounts.

I do all my own payroll and VAT returns.

I do my own basic book keeping (Excel spreadsheet). My accounts are really simple - 1 sales invoice per month and a running total of some basic expenses per month.

At the year end I gave the spreadsheet to the accountant and he produced my accounts and submitted them for me.

Bill = £980 + VAT.

Does that sound expensive? Anyone recommend a cheaper but good accountant.

I reckon it can't have taken him more than 1 hour (top side). That's not a bad rate - guess most of us on here would be happy with that sort of gig. I'm thinking about re-training

i pay my accountant £72 per month and submit the docs and all. he does the payroll as well. i have been meaning to start doing it myself but just can't be bothered. besides i need the accountant to verify my contractor status in other areas of my life.

p.s. the do my payroll, the VAT returns, submit accs etc