Cost of Annual Accountancy

[northernladuk]

All you need is that magic dispensation, and you don't need any receipts, either

Well techinically the dog could prove evidence of comsuming the food but your accountant wouldn't be too pleased

[TheFaQQer]

Some self employed "one man Ltd" contractors call their accountants to ask if the cost of their dog's food can be treated as a allowable expense!

When we all know that it is - after all, you are employing the dog as a guard dog for your business premises.

All you need is that magic dispensation, and you don't need any receipts, either

[ladymuck]

I made a similar enquiry on the PCG forum recently as I was paying £850+ VAT and wanted to see if this was a fair price. Have now pretty much halved that cost further.

It helps that I do all my own accounts to TB, payroll, bank reconciliations, and self assessment. This just means the accountant only has to do the final accounts, submit them to CoHo and HMRC, and calculate corp tax.

Let me know if you want details of the accountancy I'm moving over to.

[Freelancer Financials]

It all depends on the work load you are creating for your accountants! Typically most contractors are paying under £1000 a year.

However, if your contantly calling your accountant to check what can be treated as an allowable expense then they may charge you a more. Do they charge you a fix cost?

Some self employed "one man Ltd" contractors call their accountants to ask if the cost of their dog's food can be treated as a allowable expense!

By the way, I'm not an accountant, just have a lot of friends and associates that are.

John

[Platypus]

How much are you paying your accountant?

Its costing me £2000+VAT - for ltd company accounts and tax returns.

It was when my bills reached that level that I changed accountants.

[northernladuk]

There a quite a few threads where accountants fees are discussed, just do a search

Correction... there are a lot of threads on this. Search them.

[Gonzo]

How much are you paying your accountant?

Its costing me £2000+VAT - for ltd company accounts and tax returns.

Just ltd comany accounts and tax returns?

Your accountancy costs will depend a great deal on how complicated your business is.

If you are a UK only IT contractor then there are specialist firms catering for that market that will charge a lot less.

If your affairs are more complicated then you will have to pay more.

[MPwannadecentincome]

Have you done a search?

There a quite a few threads where accountants fees are discussed, just do a search

[SorenLorensen]

Seems very excessive. I pay half that.

[Fishface]

How much are you paying your accountant?

Its costing me £2000+VAT - for ltd company accounts and tax returns.