Overcharged by my accountant?

[Silas]

I have also experienced extensive problems from an accountancy service and finally had to spend many hours over several months resolving them myself. That accountancy service was one frequently seen and mentioned on this forum and I would urge you to hesitate before acting upon recommendations.
Please go to the PCG Accredited Accountants list at pcg.org.uk and follow the menu through PCG Schemes / Accountant / PCG Accredited Accountant. Even if you're not a member you can see the list! (though maybe you should consider joining).
I now use one of these PCG-accredited accountants and am satisfied with the higher standard of service - I know because I check everything! It also gives you the option to involve the PCG should you encounter problems.
Good luck!

[Waldorf]

1. I pay £60 per month for all my accounting needs, it sounds reasonable hat you pay but from what I gather non-specialist accountants often think of a number when they charge. I prefer to know what I will be paying.

2. I guess this depends what you signed up to.

3. Audits are only needed for larger companies, I think the turnover has to be over £5 million

4. I would expect that explanations should be included in the fee!

5. My accountant never advises to simply take funds out but only to take what has been issued as salary, divs etc.

6. It sounds like you need to get them to clear these accounts and then get out, I don't think you can just walk away. Be careful next time and know what you are getting for your money.

Anyone can call themselves an accountant, I use Nixon Williams who I am very happy with, they are Chartered Management Accountants and I can recommend them.

[unsurenewbie]

First of all, thanks for reading this. I have read :http://www.contractoruk.com/legal_ad...ccountant.html and most of the postings but would like to ask for more opinions.

My Limited Company has just completed its first year annual account and I would like to see whether anyone has experienced the same dealings I have with my 'chartered accountant'

1/ I bought an offshelf ltd company from the accountant
2/ The accountant is not my secretary but is my authorised agent for tax.
3/ I have never received any written confirmation of what fees they will charge but agreed that I could pay GBP100 /quarter for book keeping
For this, I have to enter all the data into a spreadsheet, expenses, bank statment, purchases, invoices, etc

Now the bill has arrived :
1/ I would like to know what is the standard average costs for :
Annual accounts? GBP450 + VAT
Corporation Tax? GBP 80 + VAT

Is it common for the accountant to the work and not advice you of the fee and then bill you on completion?? I thought they would ask you before they do work, or is this the industry standard?

2/ Is it legal for the accountant to charge for work they claim they have done which I have never asked them to do, and they call it ' abandoned work' and bill me?

This also includes phone calls and my answering emails queries which is related to the work they have done which the ltd company has already been billed??

3/ Are there any reasons why they have opted out for account auditing? is this good or bad?

4/ If the ltd company final figures have not been submitted and the accountant has carried on regardless to do the accounts, with the figures they have on record which does not add up and require explanation, are they allow to make additional charge for giving explanation?

5/ The accountant has suggested to save a percentage (to cover accountant fees, insurance and tax) before any money is taken out of the account and I have saved 3% extra. However, from what I have worked out there is not enough saved money to cover the accountant fees + tax and whatsmore no expense has been paid yet.. How could this be?

6/ As I have only paid the quarterly book keeping and other fees (have not paid the huge bill). What can I do to get the annual accounts amended and explained to me without getting further bills? As they are going to send me an addtional bill as they said it will take time for them to answer the questions. So I am thinking whether the ltd company will be better off
finding another accountant and start again, if so, will the ltd company be liable to pay for the current accountant service even if we will not use the accounts they have prepared? and is it true there is a new legistlation : Letter of Engagement & Terms of Business' which has to be signed by the director?? as I don't agree with the clauses, ie I confirm the figures are
correct and the accountant is not liable with any incorrect info. And another letter which has a clause stating if the ltd company cannot pay their bill, I will be personally liable which the director has to sign.

If you were in this situation, what would /can you do? As I believe some of the charges are incorrect and I believe they should not be charging for explaining the work they have done which is unclear and incorrect.

If the ltd company fail to pay part of the bill, what will be the worst case scenario?

And any recommended accountants? and what is the difference between an accountant and a chartered accountant (apart from the higher fees)?

Many thanks