Small business accountancy costs
Discussion
I am trying to sort an accountant to deal with our business accounts, effectively we have 3 limited company SPVs that each hold a property.
Two of the companies will remain largely dormant, a few dozen regular accounting entries all in, but nothing more. One will, in time be slightly more active with contractor payments, but not a great deal. There are no staff and there will be no regular sales beyond rent, we also have a neat spreadsheet which deals with all income and expenditure so everything is quite organised.
We simply need to file statutory accounts, have corporation tax calculated and recover VAT from each company.
The quotes we have had from two different accountants however have been simply eye watering.
What would you guys expect to pay for the above?
Two of the companies will remain largely dormant, a few dozen regular accounting entries all in, but nothing more. One will, in time be slightly more active with contractor payments, but not a great deal. There are no staff and there will be no regular sales beyond rent, we also have a neat spreadsheet which deals with all income and expenditure so everything is quite organised.
We simply need to file statutory accounts, have corporation tax calculated and recover VAT from each company.
The quotes we have had from two different accountants however have been simply eye watering.
What would you guys expect to pay for the above?
Actually, even though the companies may be "small", having three VAT registered property owning companies that are probably connected (shared directors etc) can lead to quite a few complications over and above a more straightforward trading limited company.
I would say that a fee of £2,000 would not be exceptional to cover the statutory and Corporation tax affairs of all three companies.
I would say that a fee of £2,000 would not be exceptional to cover the statutory and Corporation tax affairs of all three companies.
That would be very much at the bottom of the estimates. Depending on what happens within these companies each year, the actual fees charged could be quite a bit higher. I know from bitter experiences that completing accounts for three related companies is often a lot more complicated than completing accounts for three totally unrelated companies.
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