Accoutancy Fees

[nicksmith7d]

Hey guys,

I am new to this forum but it was recommended by a friend. So here is my first post. I and a friend are starting a business and I have been getting some quotes for bookkeeping and accounts and wondered if the prices quoted were about right.

I estimate my business would have approximately 75 transactions per month, generate around £100k (max), be VAT registered and have no paid employees within its first year. The quotes are for complete book keeping and all company forms filing.

For that I have been quoted between £2,000 - £3,000 per year. Is that about right?

Cheers

Nick Smith

[elainec100@cheapaccounting]

That sounds a little expensive to me - but I would say that :)

[taxattack]

First impression is on the expensive side, but more information needed.

Chris

[Strontium Dog]

I am assuming it is a ltd company, but that might not be correct-

Year end accounts £700
Corporation tax £200
Two directors tax returns £200
Annual return and company filings £100
Payroll £200
VAT returns £200
Bookeeping at £100 pm £1200


Total £2800

If it looks too expensive, figure out which bits you could do yourself to bring the overall cost down.

If it is a partnership then it might be a bit expensive, but then again £100 pm bookeeping isn't a lot say 4 x £25ph.

[GillespieBS]

As the above post says, you can look to do some of these things yourself. Perhaps talk to an accountant/bookkeeper who can set you up with a system that will make the bookkeeping side of it a bit easier.

Many new start ups do the admin side themselves until they realise that their time is better spent developing and delivering the business. You could give it a go and if it's not happening for you, pass it back to the accountant/bookkeeper to take on.

If you shop around you will get cheaper quotes but don't choose on price alone.

[kjmcculloch]

I also think this sounds a bit pricey at first glance.

[Jenni384]

Hey guys,

I am new to this forum but it was recommended by a friend. So here is my first post. I and a friend are starting a business and I have been getting some quotes for bookkeeping and accounts and wondered if the prices quoted were about right.

I estimate my business would have approximately 75 transactions per month, generate around £100k (max), be VAT registered and have no paid employees within its first year. The quotes are for complete book keeping and all company forms filing.

For that I have been quoted between £2,000 - £3,000 per year. Is that about right?

Cheers

Nick Smith

Based on your info, it would cost you approximately £93+VAT per month for our complete service, that's £1116+VAT per year.

[Batra Ventures UK Limited]

Your prices are definately high and are probably from the "luxury" accountants.

[David Colom]

No way! A decent accountant will set you up with a simple spreadsheet so you can do your own book-keeping and charge you about £1000 per year for a full accounts and tax service.

[nicksmith7d]

Cheers for all the replies guys, appreciated.

I shall look around a bit more. Also loads of good offers from people on here to. Thanks for them.

Nick

[Dawn Lane]

Cheers for all the replies guys, appreciated.

I shall look around a bit more. Also loads of good offers from people on here to. Thanks for them.

Nick

Do your accounts yourself with Kashflow and use Taxassist - numerous offices around the UK.



Dawn

[Williams lester]

use Taxassist - numerous offices around the UK.

Dawn

But if you do, be aware that it is a franchise operation, each independant from the others...so no guarantee of quality or of qualifications.

[MyAccountantOnline]

Cheers for all the replies guys, appreciated.

I shall look around a bit more. Also loads of good offers from people on here to. Thanks for them.

Nick

Hi Nick

I am sure you've been inudated with PM's and offers but please do feel free to have a look at my website - our prices are all clearly shown.

[TaxAssist]

But if you do, be aware that it is a franchise operation, each independant from the others...so no guarantee of quality or of qualifications.

Just like any other accountant there will be no guarantee. Only we do have a support team of tax experts to support each office and we do technical audits regularly. I could go on but may get told I'm selling our service too much!

[David Colom]

And remember that all accountants are not the same - some do your tax - others save you tax.