How fixed fees work if I change accountant

[simondolan]

Hello,

Have been contracting for almost a year now, through my ltd co, with fixed-monthly-fee accountant, whom I have been not so convinced is offering good value.

Colleagues suggest that I am paying too much but I guess I need to give them a chance to prove their worth - they haven't yet prepared my personal tax return or the first year company accounts.

I have almost paid a full year's fees - does that entitle me to get the personal tax return and first year company accounts completed regardless of whether I pay for a second year?

To put it another way, if I am with an accountant for 2 years, and then change accountant, during that two-year period there will only have been one personal tax return and one first year company accounts completed. So it would feel like I had paid twice as much as necessary?

Thanks for any thoughts on this

A decent (qualified) firm will make a charge for the work actually done on a time basis, then refund to you the balance of the monthly fees you've paid to them less the amount you owe them for work done.

[bingocaller88]

Thanks ASB.

Can't find any mention in the paperwork of what happens when I cancel, it just gives a list of the services provided within the fixed monthly amount (VAT return, company accounts, personal tax return etc).

Guess I'll just have to ask them, although I don't want them to do my work shoddily if they think I'm intending to leave.

Is it generally the case though that monthly fixed fees are understood to be a yearly agreement eg like annual gym contracts which can be paid monthly but with a 12-month commitment? Or do people leave their accountants mid-company year?

[ASB]

I have almost paid a full year's fees - does that entitle me to get the personal tax return and first year company accounts completed regardless of whether I pay for a second year?

I imagine it rather depends on what is in your agreement with them. Probably best to ensure you pay the year before moving and then demand the service.

[bingocaller88]

Hello,

Have been contracting for almost a year now, through my ltd co, with fixed-monthly-fee accountant, whom I have been not so convinced is offering good value.

Colleagues suggest that I am paying too much but I guess I need to give them a chance to prove their worth - they haven't yet prepared my personal tax return or the first year company accounts.

I have almost paid a full year's fees - does that entitle me to get the personal tax return and first year company accounts completed regardless of whether I pay for a second year?

To put it another way, if I am with an accountant for 2 years, and then change accountant, during that two-year period there will only have been one personal tax return and one first year company accounts completed. So it would feel like I had paid twice as much as necessary?

Thanks for any thoughts on this