Accountant Fees

[John Muir]

Hi,

Just wondering approximately what we should be paying in accountant fees for a business turning over around £300k / year.

We would be looking for the accountant to do year end accounts, we will do all the bookkeeping, VAT returns etc.

The business is a partnership (not ltd) so looking for the fee to include doing the partnership tax return and the personal tax returns for each of the 2 partners.

 

[Bobbo]

How long is a piece of string?

One person's view of "all the bookkeeping" can be quite different to another's.

Key things to consider will include:
- what, if any, adjustments does the accountant have to make in preparing the partnership accounts? (fixed assets, prepayments/accruals, correcting treatment/presentation of things)
- what, other than partnership profit share, is on the partners' personal tax returns

 

[UK Contractor Accountant]

Why....... How much are you paying per month/year?

 

[WaveJumper]

And don't just go on the cheapest, visit several (interview them) who understands your business, who can you just pick the phone up to and has got your back. In my book knowing my accountant understands fully my needs and I can always rely on their advice is worth every penny I pay him.

 

[MyAccountantOnline]

Hi,

Just wondering approximately what we should be paying in accountant fees for a business turning over around £300k / year.

We would be looking for the accountant to do year end accounts, we will do all the bookkeeping, VAT returns etc.

The business is a partnership (not ltd) so looking for the fee to include doing the partnership tax return and the personal tax returns for each of the 2 partners.

It's an almost impossible question to answer as it depends on so many variables.

At that level of turnover most accountants will need to see your records and know about your business to be able to ascertain the work required and hence the fee.