Cost of an accountant

**northernladuk** · 10 December 2012, 13:50

Try using the search function. This has been discussed a number of times and the threads contain the costs for most of the large contractor accountants that advertise/post here plus other independant ones. Anything over 6 months old I would ring the accountants in question to re-check their prices though.

Search function is here....

Welcome / FAQs

Also a thread of recommended accountants from users of the board can be found here. Personally I would give them all a ring first. Most of us are with them so that speaks volumes IMO..

http://forums.contractoruk.com/accou...-requests.html

**malvolio** · 10 December 2012, 16:04

And keep in the back of your mind that a good accoutnant is free while a bad one is very expensive. It's not about the price...

**Jessica@WhiteFieldTax** · 10 December 2012, 16:19

Check the detail as to what is and isn't included, and what you need.

AFAIR First Contact have a fairly comprehensive "do everything" approach which may or may not suit you.

As others have said there is no substitute for calling or emailing a few and sensing the feel of what comes back - is it helpful or not? Could you work with these people? etc

**kaiser78** · 10 December 2012, 16:34

Originally posted by dowjones123 View Post

Hello

I am looking to understand the range of cost that an accountant could charge

I checked out 1stContact in London, and for a small LLC (single director) in consulting, they would charge a fee of GBP 1495 + VAT for a full year to do all VAT returns, annual returns and tax filings

Another accountant (a friend's recommendation) would charge GBP 850 per annum (does not have qtrly vat returns, but just the annual filings)

Any comments are appreciated, along with personal feedbacks

Thanks

You will find £1495 + vat is on the high side - ave cost is around £1000 incl vat for an all in service. As per other posts do the search and see the best fit for yourself.

**d000hg** · 10 December 2012, 18:20

Originally posted by malvolio View Post

And keep in the back of your mind that a good accoutnant is free while a bad one is very expensive. It's not about the price...

Please be posting phone numbers for the free accountant.

**malvolio** · 10 December 2012, 19:03

Originally posted by d000hg View Post

Please be posting phone numbers for the free accountant.

If your accountant doesn't at least cover his fees in savings for YourCo plus the cost of the time you would spend doing it yourself, he's not really doing his job. Sorry if that's a little too subtle...

**SueEllen** · 10 December 2012, 20:37

Originally posted by kaiser78 View Post

You will find £1495 + vat is on the high side - ave cost is around £1000 incl vat for an all in service. As per other posts do the search and see the best fit for yourself.

It makes no difference how much they charge it's if they are any good.

Lots of accountants in and around London charge this much but only a few of them understand small companies that provide services instead of physical goods and how to stop new contractors getting in a mess.

For example some accountants will claim you are within IR35 when they have never seen your contract and don't know whether you have found the client yourself, or they can do your VAT for you but may not check that you have sent all the correct paperwork and then leave you in the sh*t when you are picked for a random VAT inspection.

**d000hg** · 10 December 2012, 21:01

Originally posted by malvolio View Post

If your accountant doesn't at least cover his fees in savings for YourCo plus the cost of the time you would spend doing it yourself, he's not really doing his job. Sorry if that's a little too subtle...

The whole "he should save more than he costs" spiel is something that gets trotted out all the time when talking about accountants. For a business with staff and costs and R&D then I agree. For a 1-man contractor Ltd, there aren't many little clever tricks and they are easily learned.

I still advocate using an accountant but not as a way to increase profit - if you want that then one of these cookie-cutter contractor accountants (who are great) is not where you're going to find that.

**SueEllen** · 10 December 2012, 21:03

Originally posted by d000hg View Post

The whole "he should save more than he costs" spiel is something that gets trotted out all the time when talking about accountants. For a business with staff and costs and R&D then I agree. For a 1-man contractor Ltd, there aren't many little clever tricks and they are easily learned.

I still advocate using an accountant but not as a way to increase profit - if you want that then one of these cookie-cutter contractor accountants (who are great) is not where you're going to find that.

You obviously haven't met contractors who have got themselves in a right mess.

While some of us will do our accounts, read up and ask questions on various tax regulations other people just hand everything over.

Cost of an accountant