So how much will it really cost?
Best thing to do is to contact me for a free consultation so I can estimate and quote based on services required.
I appreciate an organised workplace and you can do your bit to keep accounting fees to a minimum by maintaining good record keeping, providing all necessary information in good time.
Accounting for small businesses
A small business may be anything from a self-employed contractor to a limited company with up to 50 employees. Accounting for this kind of enterprise usually includes a range of services delivered as a package.
For smaller businesses, this monthly fee can be as low as £60 or as high as £700 depending on things like turnover, depth of service and where in the UK you are. Businesses with more employees and higher turnover can expect to pay more.
- Annual accounts
- Corporation tax returns
- Director’s personal tax return
- Monthly & annual payroll returns
- Quarterly VAT returns
- Advice on tax avoidance legislation (IR35)
- Ongoing day-to-day advice from your accountant
- The above is a fairly standard core package (some accounting firms may offer more) and is usually delivered for a fixed monthly fee.
Many businesses like to pay their accountant a monthly fee as this provides certainty. However, you can also pay an hourly rate.
You can also mix-and-match, paying for some services via a fixed price or monthly fee, while paying for more bespoke services by the hour. If performing the basic accounting services I will usually work for between £25 and £35 per hour.
More specialist services like tax planning and business planning advice may be much more expensive, in the region of £125 to £150 per hour.
Accounting fees per service
You can hire us on a service-by-service basis, such as for year-end accounting, VAT returns or payroll services. Typical one-off fees for such services are as follows:
|Service||Turnover / size||Typical fee|
|Business accounts||£20,000 to £30,000||£150|
|£100,000 to £130,000||£400|
|£250,000 to £300,000||£600|
|Payroll services (incl. PAYE)||50 employees||£200 per month|
|100 employees||£500 per month|
|Director’s tax return||£300|
|VAT returns||£0 to 100,000||£100|
|£100,000 to 200,000||£150|
|£200,000 to 400,000||£200|
Generally speaking, fees for services like business accounts and VAT returns will rise with company turnover. Likewise, payroll fees will rise with the number of employees. If you own rental properties then this can add to the cost of your personal tax return.
I appreciate organised workplace and you can do your bit to keep accounting fees to a minimum by maintaining good record keeping, providing all necessary information in good time.