What's a fair accountancy cost for an SPV Ltd?
Discussion
I created an spv Ltd to manage a new property. I'd do the companies house and vat admin via mtd for it. Just one rental in per month and a few costs for returns - simple stuff. Fell off the chair at his quote to add this to what he already does for a proper trading Ltd and 2 personal taxes for us.
What do you pay or what would be a fair cost as this is a make or break time.
Thx
What do you pay or what would be a fair cost as this is a make or break time.
Thx
Can’t help on the question as such but my accountants doubled our costs for doing both of our SA returns this year citing far more workload and compliance caused by HMRC.
As the new figure wasn’t too out of line with what others wanted I stayed with them and assumed that they weren’t just spinning me a line.
As the new figure wasn’t too out of line with what others wanted I stayed with them and assumed that they weren’t just spinning me a line.
If it is a very simple ltd co with no personal SA, and you intend to do the VAT and CoHo stuff yourself. Simply preparing and submitting accounts - I would quote circa £350-400 for it.
(Small accountancy firm in Yorkshire for reference).
Agreed the above comment that red tape is getting ridiculous though from HMRC.
(Small accountancy firm in Yorkshire for reference).
Agreed the above comment that red tape is getting ridiculous though from HMRC.
Abc321 said:
If it is a very simple ltd co with no personal SA, and you intend to do the VAT and CoHo stuff yourself. Simply preparing and submitting accounts - I would quote circa £350-400 for it.
(Small accountancy firm in Yorkshire for reference).
Agreed the above comment that red tape is getting ridiculous though from HMRC.
Also, there are some special aspects of dealing with property/flat management companies which make them a bit different to a more normal "trading" company i.e. they are a bit specialist.(Small accountancy firm in Yorkshire for reference).
Agreed the above comment that red tape is getting ridiculous though from HMRC.
Countdown said:
Isn't it more like a couple of hours' worth of work?
That would be lovely, but quite far from the truth.Small/one-man band accountants can charge sub £400, but anyone with a decent number of staff, premises etc simply can't charge that. The figures don't stack up with the ongoing compliance, software costs, paying staff good wages etc.
Doing the work can vary so much on jobs like this. One client could be on the phone every week asking you various questions about their mate down the pub and others send you a lovely file allowing you to submit it efficiently and make sure they are being efficient in all aspect of the business.
Personally the price for a new client would be £600 to £1K plus VAT depending on the circumstances due to how much they can vary. For people I already work for, it could be a bit more or less.
Reasonable. I present stuff well and using pay forever Xero to make everyone else's life easier since ditching bags of receprs but paying more for SaSS costs. I only see them once a year with maybe 2 or 3 emails in between.
I got him down from 180 a month to 150 'as an existing client' . I fully conclude he is no longer fair or wants to retain my current business of about £2500 pa.
Thanks for the replies.
Pitch me by DM as damage is done here and trust lost.
I got him down from 180 a month to 150 'as an existing client' . I fully conclude he is no longer fair or wants to retain my current business of about £2500 pa.
Thanks for the replies.
Pitch me by DM as damage is done here and trust lost.
Edited by Ken Figenus on Thursday 22 January 19:59
Panamax said:
Ken Figenus said:
I got him down from 180 a month to 150 'as an existing client' . I fully conclude he is no longer fair or wants to retain my current business of about £2500 pa.
Do you use the accountant monthly, quarterly or once a year?150 x 12 = 1,800 What's the other £700?
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