Accountancy cost for a small limited company

[3fold media]

Hi, just looking for a bit of advice with regards to what sort of cost I should be looking at paying an accountant for my small company.

Our current accounts can no longer provide the service that we originally signed up with them for so we are looking for a new accountant that can provide us with a basic service.
I only have experience working with this one accountancy firm so don't know what sort of price I should be looking at.

A quick overview of our requirements

We are a small VAT-registered limited company
- 2 Directors (myself and my business partner)
- 1 employee (myself)
- We would need our company return and individual returns completed each year (I work full-time for the company and the other director is currently a silent partner who works overseas and pays zero UK tax)
- Payroll running and submitting each month for 1 employee (myself)

I do the VAT returns myself through Sage, so there isn't really a lot that needs to be done.

Currently, we're paying £172+VAT a month for this

What would be a reasonable price, just looking for a ball park figure

Thanks for any advice.

 

[DWS]

That seems quite high for the work you describe as I would hope that the bookkeeping is in good shape if you are preparing and submitting the VAT returns, depending how much is involved with the end of year accounts and adjustments you should be able to get a monthly fee cheaper than that.

 

[UK Contractor Accountant]

My firm supports Sage Accounting Software - ball park figure for services mentioned. £100 + VAT per month.

DM me if interested in a formal quote

 

[BubbaWY]

Without the payroll service, from my experience you should be looking at around £800 + VAT a year.

 

[3fold media]

The price wasn't just for the work I had listed, it was also for R&D grant funding that we're no longer eligible for.

So now we have more basic needs, but I don't even know what a sensible amount would be per month

 

[WaveJumper]

I would always advise going round and visiting several basically interviewing them until you find the one you feel understands your needs, and you feel you can work with, then discuss fees as there are so many variables. Cheapest is not always the way to go, value for money and a working relationship should be key in my book

 

[MyAccountantOnline]

Hi, just looking for a bit of advice with regards to what sort of cost I should be looking at paying an accountant for my small company.

Our current accounts can no longer provide the service that we originally signed up with them for so we are looking for a new accountant that can provide us with a basic service.
I only have experience working with this one accountancy firm so don't know what sort of price I should be looking at.

A quick overview of our requirements

We are a small VAT-registered limited company
- 2 Directors (myself and my business partner)
- 1 employee (myself)
- We would need our company return and individual returns completed each year (I work full-time for the company and the other director is currently a silent partner who works overseas and pays zero UK tax)
- Payroll running and submitting each month for 1 employee (myself)

I do the VAT returns myself through Sage, so there isn't really a lot that needs to be done.

Currently, we're paying £172+VAT a month for this

What would be a reasonable price, just looking for a ball park figure

Thanks for any advice.

It's very difficult to say based on the above. I'd also need to know what your business was and the annual turnover but that said £172 + VAT per month seems quite high. Do you have any particularly complex personal tax affairs?

If you wanted to make futher savings you could also look at doing your own payroll.

 

[3fold media]

After speaking with a couple of other local accountancy firms they are all quoting around £2,000 a year.
So roughly what I'm paying now

It's very difficult to say based on the above. I'd also need to know what your business was and the annual turnover but that said £172 + VAT per month seems quite high. Do you have any particularly complex personal tax affairs?

If you wanted to make futher savings you could also look at doing your own payroll.

no, nothing complex with personal tax (or company tax for that matter)
annual turnover is mid 5-figures, so not massive

with regards to payroll, I'm paying £20 a month
and to be honest I'm happy to pay that so that I don't have to deal with HMRC!

 

[MyAccountantOnline]

After speaking with a couple of other local accountancy firms they are all quoting around £2,000 a year.
So roughly what I'm paying now



no, nothing complex with personal tax (or company tax for that matter)
annual turnover is mid 5-figures, so not massive

with regards to payroll, I'm paying £20 a month
and to be honest I'm happy to pay that so that I don't have to deal with HMRC!

certainly if you are happy working online and not everyone is you'll find cheaper online. A few of us regular accountants here on the forum myself included will be happy to help I'm sure.

 

[Allied]

You can contact us by email, we will be happy to help you.