Crunch and its pre-crunch service

[Sagara]

Hi There,

I've started a new limited company more than a year ago and I've been doing my VAT and dividens myself. Doing my accountancy so far was ok as I didn't pay any salary to myself and had few dividend transactions. Now It is time for doing my first year accountancy and I really have no idea how to do CT and I really don't want to invest any time into this. I mentioned this to a contracter friend and he suggested crunch and I contacted them.

I've got a demo account and have played with it; it seemed really good but when I asked them about my first year transactions and CT, I've been told that it is a pre-crunch service and I need to pay them an additional 450 + VAT which is almost their one year price when you pay the money upfront with 10% discount. (Their montly fee £60) This basically annoyed me as I've been doing everything myself so far and I don't think it would be a challenge for a competent accountant to do my CT which has less than 100 transactions income and expenses together.

What do you guys think I should do? Isn't the money too much?

[Hex]

Hi There,

I've started a new limited company more than a year ago and I've been doing my VAT and dividens myself. Doing my accountancy so far was ok as I didn't pay any salary to myself and had few dividend transactions. Now It is time for doing my first year accountancy and I really have no idea how to do CT and I really don't want to invest any time into this. I mentioned this to a contracter friend and he suggested crunch and I contacted them.

I've got a demo account and have played with it; it seemed really good but when I asked them about my first year transactions and CT, I've been told that it is a pre-crunch service and I need to pay them an additional 450 + VAT which is almost their one year price when you pay the money upfront with 10% discount. (Their montly fee £60) This basically annoyed me as I've been doing everything myself so far and I don't think it would be a challenge for a competent accountant to do my CT which has less than 100 transactions income and expenses together.

What do you guys think I should do? Isn't the money too much?

It sounds reasonable to me. You are paying them a monthly fee and you can't really expect them to take on what sounds like nearly an entire financial year's worth of transactions in the first month and do your accounts for you for nothing.

£450+VAT is quite competitive for annual accounts.

It might not be a challenge for them to do your accounts but they would expect to be paid for it. If you think it's easy then you could always do it yourself.

[Joxer]

If you went down the route of managing all the monthly admin yourself and drafted your own year-end accounts what is a reasonable fee for a qualified accountant to look over these accounts and provide any challenge / insight / updates?

Does anyone who has gone through the process above have any advice?

Thanks.

[Sagara]

If you went down the route of managing all the monthly admin yourself and drafted your own year-end accounts what is a reasonable fee for a qualified accountant to look over these accounts and provide any challenge / insight / updates?

Does anyone who has gone through the process above have any advice?

Thanks.

That is exactly my situation here and I found crunch asking me to charge me almost for the same year price a bit unfair.

[SueEllen]

They are actually charging you £200 -270 less for just doing your annual accounts.

This indicates the work you did throughout the year is so routine it would only cost them £200-£270 + vat to do it.

[Sagara]

After some investigation I've decided to take their service and also pay their pre-crunch fee for my first year accounts. Hopefully I won't regret my decision.

Thanks for all the replies.