Accountants Fees
Accountancy Charges Guide For All Business Entity Types
UK Accountants Fees Guide
The cost of an accountants services will be down to a variety of factors including the nature of your business, the medium through which you are trading, the scale of your activities, the complexity of the assets and liabilities, the quality of your bookkeeping records and the add on services you require.
Our fixed fee guide below shows our prices which are refreshingly simple and are based on the level of your turnover and gross assets. We aim to help you find an accountant by comparing our fees to the competition and help you make the right choice to save money on your accountants costs.
Limited Company Accountancy Fees
Limited Company Accounts Cost will depend on the level of sales and gross assets of your business. As online accountants we charge between £299 and £699 per year to prepare and file your statutory year end accounts to both Companies House and HMRC.
£299 Small Company Accounts Sales up to £30k & Gross Assets up to £100k
£499 Medium Company Accounts Sales up to £100k & Gross Assets up to £250k
£699 Large Company Accounts Sales up to £250k & Gross Assets up to £500k
Limited Company Accounts Cost
CHOOSE YOUR PLAN BASED ON SALES AND ASSETS
EXCEED ADVERTISED PLANS? NO PROBLEM - PLEASE CONTACT US FOR A QUOTE
SMALL COMPANY ACCOUNTS FILING
£299
+vat
Sales up to £30k & Assets up to £100k
Includes Everything Needed to Fulfil your Statutory Filing Obligations
Accounts Comply to FRS 105 Micro-Entity or FRS 102 Small Entities Regime
iXBRL Accounts Filed to Companies House
Corporation Tax Calculated & CT600 Return Filed to HMRC
Includes Review of your Bookkeeping
Average Turnaround 7–14 days
MEDIUM COMPANY ACCOUNTS FILING
£499
+vat
Sales up to £100k & Assets up to £250k
Includes Everything Needed to Fulfil your Statutory Filing Obligations
Accounts Comply to FRS 105 Micro-Entity or FRS 102 Small Entities Regime
iXBRL Accounts Filed to Companies House
Corporation Tax Calculated & CT600 Return Filed to HMRC
Includes Review of your Bookkeeping
Average Turnaround 7–14 days
LARGE COMPANY ACCOUNTS FILING
£699
+vat
Sales up to £250k & Assets up to £500k
Includes Everything Needed to Fulfil your Statutory Filing Obligations
Accounts Comply to FRS 105 Micro-Entity or FRS 102 Small Entities Regime
iXBRL Accounts Filed to Companies House
Corporation Tax Calculated & CT600 Return Filed to HMRC
Includes Review of your Bookkeeping
Average Turnaround 7–14 days
The Cost of Accounts for Limited Companies
Traditional high street accountants charge an hourly rate or an annual fee with no standard pricing criteria. We offer transparent fixed fees based on net turnover and gross total assets. Small limited companies can choose from a selection of three basic cost packages for year end annual accounts.
Some accountancy firms will also charge for two corporation tax returns in your first year as the accounts period cannot be more than 12 months for corporation tax return purposes. We do not make any additional charge for the first long period set of accounts. The charges made by professional accountants can vary widely, but it is typically based on an hourly rate or a fixed fee annual fee.
There may also be other costs associated with submitting the accounts to Companies House, the government agency responsible for registering and storing company information in the UK. This includes the charge made for the submission of the annual confirmation statement which is basically a snapshot of the directors and shareholders interests along with public and private address information. We suggest that most directors complete this themselves however we can do so for a nominal fee on your behalf if you prefer.
It is important to carefully consider if your chosen accountancy firm will bill you by the hour or offer a fixed fee so you have no unpleasant surprises and ensure this is confirmed before you engage their services.
Tips on how to reduce your accountancy fees
Improve your bookkeeping
This is the easiest way to bring down your accountants fees. Accurate bookkeeping, ideally using proprietary software, will significantly improve how much your accountants charge and enable them to offer you a better price for your year end accounts.
If you're not sure how to do this yourself then perhaps you should consider engaging a professional bookkeeper to handle this for you.
If accountants can see that your trial balance shows debits and credits on the correct side this will give them confidence that entries have been made correctly.
If the profit and loss report figure for the year also appears in the balance sheet retained reserves section this is another good marker.
Using manual records?
We understand that not everyone uses software to maintain their evidence of income and expenditure.
Spreadsheets are fine but should show all sales and expenses net of vat. The payments made out should also be analysed by category totals for the year so that your accountant can easily create detailed accounts for the period end accounts.
We often receive bank statement downloads from clients but these are not sufficient as we cannot be expected to make assumptions on your behalf as to what the expenditure relates to and whether or not they are bona fide business payments or personal expenditure.
Provide a reconciled bank account
If you're using double entry bookkeeping software you should be using the import feature to bring in each transaction from your bank. These should then be matched correctly to customer receipts against outstanding sales invoice to reduce your trade debtors, supplier expense invoices to reduce trade creditors and other items of income and expenditure not running through the control account ledgers.
If your using manual records you should obtain your bank balance at the start of the year, add on your turnover and other capital introduced, deduct your summary of payments made and capital withdrawn by way of directors dividends or directors loan repayments and ideally finish with the closing bank balance as per your bank statement.
If your accountant can see that the bank accounts reconcile you can expect lower fees.
Providing a summary of income and expenditure?
You can also provide your accountant with a summary of income and expenditure. This can be in any format provided the expenses are itemised by expenditure type totals for the whole year.
The types of expenditure we would expect to see are travel, phone, purchases for resale, stationery, advertising, use of home as office, dividends taken, drawings, capital introduced, capital expenditure such as laptops, salaries paid under PAYE schemes, repairs and renewals, light and heating costs and any other category that you consider necessary.
Ensure VAT returns are correctly filed through MTD
You should have connected your software to the HMRC Making Tax Digital VAT account on the Government Gateway if registered for VAT and have submitted all VAT returns after checking them thoroughly before placing your order for year end accounts.You should review all the detailed entries that make up each box number on the VAT return.
Another good check is to ensure that all standard rated net sales multiplied by the VAT percentage approximates to the output VAT being declared and the same check should be made for payments made in relation to the input VAT being claimed.
If your advisor can see promptly filed VAT returns with figures that make sense they will gain confidence that the reports produced by your software for year end purposes are not materially deficient in accuracy and provide reduced accountancy bills to you.
Keep well organised self assessment tax records
If you expect your accountant to give you a good price for your personal self assessment tax return you should ensure you are able to provide a good summary of all your savings and rental income.
Rental income and expense summaries should be made for each property individually and for the total portfolio. You should also ensure that any mortgage interest is split out from capital repayments.
Bank interest and dividends also need to be summarised for the year ending 5 April.
LLP Accountancy Fees
Fees for Limited Liability Partnership Accounts will depend on the level of sales and gross assets of your business. We charge between £999 and £1999 per year to prepare and file your statutory year end accounts and partnership tax return to both Companies House and HMRC.
£999 Small LLP Accounts Sales up to £30k & Gross Assets up to £100k
£1499 Medium LLP Accounts Sales up to £100k & Gross Assets up to £250k
£1999 Large LLP Accounts Sales up to £250k & Gross Assets up to £500k
LLP Accounts Cost
Partnership Accountancy Fees
Partnership accountancy fees will depend on the level of sales and gross assets of your business. Our costs are between £499 and £899 per year to prepare and file your statutory year end accounts and partnership tax return to HMRC.
£499 Small Partnership Accounts Sales up to £30k & Gross Assets up to £100k
£699 Medium Partnership Accounts Sales up to £100k & Gross Assets up to £250k
£899 Large Partnership Accounts Sales up to £250k & Gross Assets up to £500k
Partnership Accounts Cost
Self Employed Accountancy Fees
Sole Trader Accounts & Personal Self Assessment Tax Return filing fees will depend on the level of sales and gross assets of your business. Our fixed fees charges are between £399 and £799 per year to prepare and file your statutory year end accounts and self assessment tax return to HMRC.
£399 Small Self Employed Accounts Sales up to £30k & Gross Assets up to £100k
£599 Medium Self Employed Accounts Sales up to £100k & Gross Assets up to £250k
£799 Large Self Employed Accounts Sales up to £250k & Gross Assets up to £500k
Self Employed Accounts Cost
Self Assessment Accountancy Fees
The cost to file your Self Assessment Tax Return will depend on your level of rental, savings, dividends and PAYE income. Our fees normally vary between £199 and £499 per year to prepare and file your self assessment tax return to HMRC.
£199 Small Self Assessment Tax Return Rental, Savings, Dividends & PAYE up to £30k
£349 Medium Self Assessment Tax Return Rental, Savings, Dividends & PAYE up to £100k
£499 Large Self Assessment Tax Return Rental, Savings, Dividends & PAYE up to £250k