Limited Company Accounting Costs

[Andrew1969]

i have just registered a limited company and am now trying to find a suitable accountant.

I expect that revenues in the first year will be low(under 10,000). There are no employees and i will not pay any dividends in the first year.
I have contacted one accountant who has quoted

yearly return 500-750 (depending on how my accounts are submitted)
Corporation Tax 250

Does this sound reasonable? I would prefer to have a fixed fee in the first year as there is quite a difference between 500-750!!

Can anyone recommend a good accountant?

 

[KM-Tiger]

Sounds on the high end to me, I pay a lot less for something similar. Though it will depend on how good your bookkeeping is, and thus how much work your accountant has to do.

 

[elaine@cheapaccounting]

Shop around - and make sure that you agree what is included in the fee up front.
Good luck with the business.

 

[lfrier]

I would always agree a fixed fee with my clients for their assurance - being a new business then you need to plan your costs clearly.

If I make a loss initially then I do and I have to re-negotiate when appropraite in the relationship.

Linda Frier
Coalesco Certified Accountants

 

[Jenni384]

Agreed it's slightly on the high side.
As has already been said, try and find a fixed fee that covers company accounts, corporation tax return, annual return and some general advice.
Again, as has already been said, the better your bookkeeping, the less work your accountant has to do (and thus hopefully the lower the fee for you). If you choose your accountant up front, not only can s/he give you good advice from the word go, but can work with you to find the right bookkeeping method that will suit both of you.

I would hazard a guess that it's unlikely to find a fee as above for under £500.

Good luck