Do I pay to much for the accounting?

[bigelvis]

Hi

This is my first post here
Could you tell me please if the below fees are not too high for the accountancy of my 1 person ltd company:
- 20£ weekly fee for "review of invoices and sales ledger, maintaining accounting records " etc
- 600£+vat for preparing quarterly VAT returns, annual accounts and year end Corporation Tax computations - which they took from FRS bonus
- tax return - "filing end of year employment returns online" - 80-100£

cheers

[northernladuk]

This is done almost on a monthly basis. Have a search and you will find a host of threads where people have already compared their costs. I am not being unhelpful. its just you wont get much response cause we have done it so many times.

[Newby]

Yes

Yes you are paying a lot for your accountant to look after a relatively simple scenario.

[SueEllen]

Hi

This is my first post here
Could you tell me please if the below fees are not too high for the accountancy of my 1 person ltd company:
- 20£ weekly fee for "review of invoices and sales ledger, maintaining accounting records " etc

You can do that yourself and it's probably a good idea to in case your accountant tries to rip you off.

I know people who have been ripped of by their accountants cos they do everything for them.

- 600£+vat for preparing quarterly VAT returns, annual accounts and year end Corporation Tax computations - which they took from FRS bonus
- tax return - "filing end of year employment returns online" - 80-100£

cheers

Standard stuff.

[Wanderer]

Could you tell me please if the below fees are not too high for the accountancy of my 1 person ltd company:
- 20£ weekly fee for "review of invoices and sales ledger, maintaining accounting records " etc
- 600£+vat for preparing quarterly VAT returns, annual accounts and year end Corporation Tax computations - which they took from FRS bonus
- tax return - "filing end of year employment returns online" - 80-100£

cheers

So I make that about 3500 / year? I'd say that a fair price is about 1000/year but your mileage may vary

[Fred Bloggs]

So I make that about 3500 / year? I'd say that a fair price is about 1000/year but your mileage may vary

+1.

[bigelvis]

So I make that about 3500 / year? I'd say that a fair price is about 1000/year but your mileage may vary

Thanx for advice
Assuming that I work about 47 weeks a year:
47x20=940 + 705 (600+vat) +80 = 1725 a year

I got a quote from Brookson and it's almost the same, so it's not worth to migrate to them.

Anyone could suggest some cheaper good accountant with web based instructions etc. please?

[SallyPlanIT]

Thanx for advice
Assuming that I work about 47 weeks a year:
47x20=940 + 705 (600+vat) +80 = 1725 a year

I got a quote from Brookson and it's almost the same, so it's not worth to migrate to them.

Anyone could suggest some cheaper good accountant with web based instructions etc. please?

Consider using FreeAgent and doing the back bone of the work yourself, it's relatively easy. Find an accountant off their freeagent friendly list on their website.

[Newby]

Yes Elvis, PM for details, (get the administrator to give you PM rights)