How much does an accountant charge ?
I have done the books for my husbands small business and sorted out the tax myself but now due to the need for a loan we need to get an accountant. Husband has been self employed for just 13 months so the first tax was easy as it was only 4 months.How much on average do they charge and do the books have to be up to date or can they sift through mountains of receipts?7 years ago - 7 answers
They vary .Ring round and get an estimate.---Remember it might not include Vat.Ours charges £500 plus Vat to do a very small amount of work,But we have had no come back from the revenue.7 years ago
I use an accountant for my small business which requires a good amount of time for them to do. They charge me $350.by altonbi - 7 years ago
I am an accountant and can only tell you my rates. First off which question are yuou asking? Is this for taxes only or ongoing bookeeping/overview work? If it is tax work, I charge by the form whether it is personal or business with a typical individual return costing $100 - $140 and business returns running $125 - $200, when the prework has been done. If I have to do the "Bookeeping" by sorting and posting receipts, I charge $40/hour for that in addition to the per form charge, and i am one of the less expensive accountants/Tax preparers in my area. CPA's will charge from $75/ hour and up some as high as $300/hour. I have an intenet business so E-mail me...
Source(s)by hdsok - 7 years ago
the fee will depend on the state of the records as fee depends on time taken so giving a mountain of receipts will take longer. so if u give them upto date records they can check it quickly then enter it onto the accounting package for a lower fee.
For a small sole trader probably looking at round £300-500
All goes on the hourly rate , juniors charge at around £25 per hr with more qualified at £60-75 and directors £100+ who need to check the work.
I have my own accountancy business based in East Anglia, UK, but with clients in various geographical locations and business sectors and the questions I would need to be answered before I could give a definitive quote would be
1. What type of business is it?
2. How do you receive your income? Cash or bank payment?
3. What records do you keep and how up to date are they?
4. Is the business VAT registered?
5. Is there a PAYE scheme in operation?
6. Are the business transactions just of the standard sale and purchase types or are they more involved?
7. Are you subject to any specific legislation or reporting regulations?
8. What services do you require from your accountant?
The answers to the above questions would make a difference to the fees I would charge a client.
From your question I would assume that the records for the majority of the 1st year of trading are not particularly up to date, that there are no unusual transactions, VAT or PAYE and that initially you just require a set of accounts to pass onto the loan provider.
On the assumption that most of the business transactions passed through a business bank account and that invoices and receipts were available to confirm their purpose my charges would range from somewhere in the region of £350 + VAT upwards.
If you are in the UK and would like to discuss your needs in more detail please feel free to e-mail me and I will do my best to give you a better idea of the charges to expect.
Source(s)by jus b - 7 years ago
My judging by the responses so far I'm in the wrong trade!!! Why all the expenses & for a small bussiness..I recently helped do the books 4 a company in hardship if you foned up your local tax office they would help you start & then in your local newspaper look for book keepers they are just as good & half the price...Us small businesses need to stick together & stop lining the pockets of the wealthy..No disrespect meant to accountantsby Rosie - 7 years ago
Most accountants charge by the hour. More hours equals more money. Work on an average of £500 per day in the UK.
A small ltd company with a turnover of (say) £100k or less would be about £750
A sole trader turning over (say) £50k might be £350-£500
These figures assume that all the books, receipts and bank statements are supplied up front and in good order