Reply to: Whats A Reasonable Monthly Accountancy Cost ?

[PerfectStorm]

Happy with Nixon Williams here at £114 inc VAT a month

[GillsMan]

My accountant charges £99 per month (inc VAT), and my business is me as the sole director, and then 5 employees. That's a bargain as far as I'm concerned.

[psychocandy]

I think last poster confirms that £350 is a bit of a rip off if the standard contractor accountants will do a 2 contractor set up for £150 which seems fair.

Past experience with a few local accountants over the years is that they can get greedy. See the contractor income and want a slice of the pie so to speak.

I've noticed some accountants will try to charge what they think the client is dull enough to pay. (Like the guy who wanted me to pay him £500 because he'd spent time 'researching IR35' when it first came out!)

But, for me, Nixon Williams fixed fee and nothing is ever too much trouble for them.

[Alan @ BroomeAffinity]

Its a high price. But the fact that he is, in your own words, a corporate accountant, very relevant.

We charge £99 for a single contractor company and £149 for a 2 contractor company like yours. This is fairly typical and would/should of course cover personal tax matters.

I can see why there would be an extra fee for the tax domicile work at the start. Not sure about the level of fee without knowing what's involved but it does seem high.

[MarillionFan]

I've never paid 250 per month and I was contracting, running shops, importing & day trading. You're being ripped off.

[d000hg]

I use a local accountant - personable and available (phone and/or face-to-face) for a flat rate £600 (inc. VAT) paid at the end of the year once the tax return are all done. No idea why you'd want some tulip monthly fee for some faceless wonder, although I do have to keep track of my accounts, PnL, expenses, dividends, etc.. - oh, that's called running a business

Yeah, real businesses never pay someone full-time to manage all that stuff. But good luck to you and you 2-bit accountant, I'm sure he can advise you on buying coffee from the local cash and carry through your business account.

[Gordon Ice]

Local Accountant

I use a local accountant - personable and available (phone and/or face-to-face) for a flat rate £600 (inc. VAT) paid at the end of the year once the tax return are all done. No idea why you'd want some tulip monthly fee for some faceless wonder, although I do have to keep track of my accounts, PnL, expenses, dividends, etc.. - oh, that's called running a business

[TheFaQQer]

Jump in my grave why don't you

You're too subtle - you need to be blatant about it like me

(That and I didn't read the whole thread)

[d000hg]

InTouch do that for me.

The only thing they charge extra for is to do the personal tax return for my wife, but since her return is so easy I do that myself in about fifteen minutes. I don't know how much extra they charge if I wanted them to do it for me.

It doesn't sound like you're that complicated - with InTouch I have two directors both drawing a salary, and I put in the invoices and expenses myself each month anyway and reconcile against the bank statement.

So the only thing you seem to need that isn't their standard offering is doing two tax returns, which they will do for an extra fee.

Give them a call and tell Louisa I sent you their way for goodies

Jump in my grave why don't you

[TheFaQQer]

Hi

Thanks to all of those who have replied.

Does the accountant handle your personal taxation queries or just those of the limited company and are these included in the costs or extra.

For example. If the question was "Im thinking of gifting some money to my family - whats the best way to do it" - would this be included in the accountants services or are these charged separately ?

Thanks - Iguy

InTouch do that for me.

The only thing they charge extra for is to do the personal tax return for my wife, but since her return is so easy I do that myself in about fifteen minutes. I don't know how much extra they charge if I wanted them to do it for me.

It doesn't sound like you're that complicated - with InTouch I have two directors both drawing a salary, and I put in the invoices and expenses myself each month anyway and reconcile against the bank statement.

So the only thing you seem to need that isn't their standard offering is doing two tax returns, which they will do for an extra fee.

Give them a call and tell Louisa I sent you their way for goodies

[Boo]

Thanks to all of those who have replied.

Does the accountant handle your personal taxation queries or just those of the limited company and are these included in the costs or extra.

For example. If the question was "Im thinking of gifting some money to my family - whats the best way to do it" - would this be included in the accountants services or are these charged separately ?

My accountant handles my personal tax return as well as the company books and returns. There is only me to deal with though, no other contractors nor wife etc on the books. I am charged his hourly rate so it could be more if I ask him lots of questions etc, but generally the total is around the amount I stated.

Hth,

Boo

[Batcher]

Wow - Thats low. I assume thats for a single contractor (not two through a limited).

Do you care to share who its with.

Cheers - Iguy

I'm around £80 per month incl. VAT.

Drop me a PM with your email address and I'll get my accountant to give you a call. Google accountsnet if you want to check them out.

[iguy2008]

Hi

Thanks to all of those who have replied.

Does the accountant handle your personal taxation queries or just those of the limited company and are these included in the costs or extra.

For example. If the question was "Im thinking of gifting some money to my family - whats the best way to do it" - would this be included in the accountants services or are these charged separately ?

Thanks - Iguy

[iguy2008]

Mine is £77.40 per month - £350 a month?

Wow - Thats low. I assume thats for a single contractor (not two through a limited).

Do you care to share who its with.

Cheers - Iguy

[Boo]

I have been with my current accountant for about 9 months and agreed to a fee of £250 per month +VAT.

This covers the usual services for my partner and I.

My affairs were complicated so also agreed to a one off payment of £3K for advice.

I have now received a letter saying they its a new fiscal year and have reviewed my account now propose a figure of £350 per month +VAT.

I would appreciate any advice on the general view. Im not unhappy with the accountant but a 40% increase at a time when ratesare going down is ringing alarm bells.

I don't know how complicated your tax affairs are but that all seems like a hell of a lot to me. My most complicated year was when I once worked abroad (though stayed within the UK tax system). My accountant still only charged £750 for that entire year and it is less than that most years even now.

Boo