Reply to: Average accountant price

[TheFaQQer]

Could also cost you thousands in a dvorce settlement......

These days, it's unlikely to make too much difference. Particularly if you divorce in London (apparently).

[FiveTimes]

It depends on the advice given though, as even basic tax planning advice isn't provided by all accountants. If your accountant doesn't suggest, for example, giving shares to your non-working spouse then that could potentially cost you thousands in extra personal tax. Or lets you build up a big loan account because you're not reclaiming expenses, without suggesting you repay yourself rather than take yet another dividend in higher rates. Both can cost thousands in unnecessary personal tax, which puts accountancy fees of £1,000 a year into context.

Fair point.

[Clare@InTouch]

Could also cost you thousands in a dvorce settlement......

True - but it would be bad form not to make the suggestion in my view, along with telling them the negative implications of taking such a step. Then the client can decide what they want to do based on all the facts (and how much they trust their spouse!)

[simondolan]

giving shares to your non-working spouse then that could potentially cost you thousands in extra personal tax. .

Could also cost you thousands in a dvorce settlement......

[Clare@InTouch]

Whilst I sort of agree with you there is a part that doesn't.

I doubt the savings from my accountant would amount to much. I, and most operate with a simple structure. ie. low salary + divs, very little expenditure - phone, broadband, travel and occasional accommodation.
There is little room for being creative with this structure.

However I do agree with you.

It depends on the advice given though, as even basic tax planning advice isn't provided by all accountants. If your accountant doesn't suggest, for example, giving shares to your non-working spouse then that could potentially cost you thousands in extra personal tax. Or lets you build up a big loan account because you're not reclaiming expenses, without suggesting you repay yourself rather than take yet another dividend in higher rates. Both can cost thousands in unnecessary personal tax, which puts accountancy fees of £1,000 a year into context.

[FiveTimes]

Mostly it isn't. The median is around £100 pcm if you want a budgetary figure. But the point is that a good accountant should save you enough, directly or indirectly, to cover their annual fee anyway. Get the one you feel is the best fit for your needs, and ignore the price.

Whilst I sort of agree with you there is a part that doesn't.

I doubt the savings from my accountant would amount to much. I, and most operate with a simple structure. ie. low salary + divs, very little expenditure - phone, broadband, travel and occasional accommodation.
There is little room for being creative with this structure.

However I do agree with you.

[malvolio]

thanks, didn't realize it can be that expensive with up to 200 a month

Mostly it isn't. The median is around £100 pcm if you want a budgetary figure. But the point is that a good accountant should save you enough, directly or indirectly, to cover their annual fee anyway. Get the one you feel is the best fit for your needs, and ignore the price.

(And just to be picky, £100 a month is actually £80 when you allow for the CT saving.... )

[ba55meister]

thanks, didn't realize it can be that expensive with up to 200 a month

[Jeremiah@RHJAccountants]

Hi

I'm looking to open a limited company very soon and was just wondering what were average accountant rates? Fixed monthly fees?

thanks

Give a few accountants a call and see what service they provide and what service you need and who you get on with too.

Also try and get one main point of contact if you can.

[FiveTimes]

I'm paying £91/month with a local firm

[TheFaQQer]

I think the £200 is thankfully something of a rarity though!

Tell that to my last accountant

[Danielsjdaccountancy]

Hi

I'm looking to open a limited company very soon and was just wondering what were average accountant rates? Fixed monthly fees?

thanks

I advise you decide on what you want from your accountant before looking at the price. Are you after face to face meetings? daily contact with a designated accountant? out to build a working relationship? or do you just need a call centre that is going to process the figures you send them at the end of each financial year.

Different accountants provide different levels of service.

HTH

[northernladuk]

Current thread discussing accountants...

http://forums.contractoruk.com/accou...s-mk-area.html

[Clare@InTouch]

So the average is £130 a month. That makes us £25 a month cheaper than average....

I think the £200 is thankfully something of a rarity though!

[simondolan]

Anywhere from £60 a month to £200 a month.

I'd suggest you go for someone who's been personally recommended to you, or give a few people a call and see who you get on with!

So the average is £130 a month. That makes us £25 a month cheaper than average....