Accountancy Costs

Discussion in 'Property Tax and Accounting' started by FND Property, Nov 15, 2017.

  1. FND Property

    FND Property New Member

    Hi all

    Had a meeting last week with an accountant to discuss my new limited company which is a property development company, buying renovating & selling approx 2 properties every 3 years.

    I’ll do the bookkeeping for each property.

    What is a reasonable cost?, he quoted £1200 + VAT. What would others expect to pay for this service fot my type of company?

    Thanks
     
  2. realdeals

    realdeals Active Member

    My friend has an accountant who charges around £900 all in to do his accounts - he only has online businesses. So I think you accountant is not far off the mark.
     
  3. FND Property

    FND Property New Member

  4. diyhelp

    diyhelp Active Member

    As far as accountants go, in many ways I think you get what you pay for. If you want cheap and cheerful, great, but dont expect to get a top rate service.
     
  5. Simon_Misiewicz

    Simon_Misiewicz New Member

    I would always say that it depends on what support you want. Accountants can cost anywhere from £600 to £2,500. Again depends on what level of accountancy and tax support you require.
     
  6. FND Property

    FND Property New Member

    I got a breakdown from my accountants proposal. What's people's opinions:

    - Provision of un-audited financial statements - £1,000

    - Tax management service including corporate tax, compliance and tax provisioning services - £350

    - Confirmation statement & PSC register - £193 + VAT

    - Directors tax returns - £350

    - Incorporation (setting up of limited company) - £350

    Do people think these are reasonable? I'm not 100% certain exactly what all of these are for so any explanation would be great.

    Thanks
     
  7. realdeals

    realdeals Active Member

    My accountant does not charge extra for my directors tax return but I am the only director taking a salary in the company.
     
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