Accountancy fees

[QuattroKev]

What should I be paying?

 

Been building a small business in my spare time for a year, all cash in hand.

 

As of now I am going full time, doing my own private jobs and subbing on railway.

 

I'm a sole trader, the accountant is going to backdate all my expenses and income from the last year of part time work.

 

Been quoted £1,155 this year.

 

To register for self employed

 

To record sales and purchase invoices from incomplete records on to computerised accounts package

 

To file year end self assessment return online with HMRC

 

Seems high to me, or am I just being naive?

[Big J]

I pay £595 a year plus VAT, and that went up a touch when I went VAT registered. Very good accountant too. I think to register self employed in the first instance was just over £200.

[ReubenHayes]

What should I be paying?

 

Been building a small business in my spare time for a year, all cash in hand.

 

As of now I am going full time, doing my own private jobs and subbing on railway.

 

I'm a sole trader, the accountant is going to backdate all my expenses and income from the last year of part time work.

 

Been quoted £1,155 this year.

 

To register for self employed

 

To record sales and purchase invoices from incomplete records on to computerised accounts package

 

To file year end self assessment return online with HMRC

 

Seems high to me, or am I just being naive?

 

That does sound high to me as well. As a sole trader running your own truck etc and little other over heads (ie no staff) then I would have thought mid £100's.

 

However, saying that what is it they are going to do? and is that the annual cost, or just the first year cost? I see that you haven't registered and haven't filed your returns from last year. If you have been paid cash in hand, what documents do you have? If they have nothing and then try and work it all out for you, then I guess that would be correct for a one off payment.

 

I do all my accounts on a system the accountant gave me, its all very easy and can be done at the end of week/month, this reduces the Accountants fees. If you are getting them to do it all then yes expect to pay more.

[hamdogg]

To register? Don't thinking paid! Over a grand is bloody steep! I pay around £300 for my accountant once a year

[defenderjack]

yeh same here around 300 , since when did it cost to register self employed ?? i dont ever remeber doing that ?

[hamdogg]

yeh same here around 300 , since when did it cost to register self employed ?? i dont ever remeber doing that ?

 

 

That's what I thought I'm 99% sure I didn't pay

[QuattroKev]

I don't have any invoices, they are going to use my bank statements, this time.

 

Next year is quoted at £1,065. Me having set up a business account and having invoices.

 

I was expecting £300-£500, but I pulled that out of thin air

[Burgess]

Are they doing the book keeping as well? Because you can do that yourself its really not too hard you're just adding up a load of written down numbers. (if you do it weekly instead of yearly its a piece of pi££)

[defenderjack]

I'd ask around first that seems a lot of money still even though it's still tax deductable .definatly worth having an accountant but don't get screwed over . Your only a one man band sole trader it's pretty simples to do yourself but an accountant can fine tune it and save you in the long run but I'd Definatly want to know what I'm getting for a grand !

[rossj]

That sounds really steep !! I trade asa limited company and only pay £750 per year that includes payroll too !!