Accountancy charges for a ltd coy
Discussion
Just about to pay accountant his annual fee for a ltd company I've got that is very much slowing down its turnover as I go off into other directions.
So, Im sole director. It turned in a gross profit of 40k last year and Im being charged 2k fees. Previous years have been a lot higher turnover but good times in the sector I was in are definitely over, hence me winding it down, albeit slowly.
Am wondering how this might compare to what you are charged?
Feedback most welcome.
So, Im sole director. It turned in a gross profit of 40k last year and Im being charged 2k fees. Previous years have been a lot higher turnover but good times in the sector I was in are definitely over, hence me winding it down, albeit slowly.
Am wondering how this might compare to what you are charged?
Feedback most welcome.
I was paying around that much until last year when I switched to a smaller firm and more than halved my bill.
Tbf, that's at 'mate's rates' as it's a chap I knew socially - in fact, the idea to switch came to me as we sat drinking at Le Mans! - but I'm pretty sure he's not much more than half your current bill normally.
The difference has been fantastic - last June it occurred to me my Corporation Tax bill was due in September . . . but my then Accountant had done nothing with my accounts. On the other hand, this year's accounts were wrapped up on Friday and I've had my current guy sat in my office fairly regularly helping with strategy etc.
Worth casting around for recommendations and seeing if you can make a saving I'd say.
Tbf, that's at 'mate's rates' as it's a chap I knew socially - in fact, the idea to switch came to me as we sat drinking at Le Mans! - but I'm pretty sure he's not much more than half your current bill normally.
The difference has been fantastic - last June it occurred to me my Corporation Tax bill was due in September . . . but my then Accountant had done nothing with my accounts. On the other hand, this year's accounts were wrapped up on Friday and I've had my current guy sat in my office fairly regularly helping with strategy etc.
Worth casting around for recommendations and seeing if you can make a saving I'd say.
Fair play. Thanks for responses.
I submit a pretty in-depth spread sheet I mark off to the bank account, expenses labelled month by month, etc.
I draw the minimum amount to save NI, balance via dividends.
I suppose I should have raised my concerns at start of my tx year when i knew turnover would drop off.
£1k a year seems more appropriate now I guess
I submit a pretty in-depth spread sheet I mark off to the bank account, expenses labelled month by month, etc.
I draw the minimum amount to save NI, balance via dividends.
I suppose I should have raised my concerns at start of my tx year when i knew turnover would drop off.
£1k a year seems more appropriate now I guess
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