Find accountant for non-audited accounts

Find accountant for non-audited accounts

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We are a small Limited company that meets the criteria for being able to file unaudited accounts. Company House now allows eligible companies to file the key figures for unaudited accounts online and will send a copy to HMRC for corporation tax. 

We never need credit or have any other need to present audited accounts to a third party, so our only obligation is to Company House and HMRC. We want to find an accountant that would prepare unaudited accounts from our Sage system appropriate for submitting to Company House and for HMRC corporation tax. The company turnover is £500,000 in a service industry and we have 2 members of staff. What would a realistic cost be for producing unaudited accounts and where would we find an accountant?

Replies (18)

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By pjowen
23rd Nov 2012 12:15

Look Local

How long is a piece of string?

The cost would depend on a number of factors - do you have any preference over using a qualified accountant or unqualified - large accounting practice or a one man band, I would suggest you find a local accountant, ask friends/family business associates for recommendations.  Failing that ICAEW and ACCA provide a register of accountants in your area, a few phone calls and you would be able to get a few estimates ;)

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Replying to huangxq2:
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By kjewal
23rd Nov 2012 13:32

Our preference is a small firm or one-man-band. A big firm would charge big fees and we don't need that.

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Replying to Cheshire:
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By The Limey
23rd Nov 2012 13:50

Big profits but not willing to pay

kjewal wrote:

Our preference is a small firm or one-man-band. A big firm would charge big fees and we don't need that.

If you're in the service industry, with £500k of turnover and two employees you're doing a lot better than most accountants - including the Big 4.

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By Carlos_Fandango
23rd Nov 2012 12:37

Any street in any town!

 

Unfortunately (as amost every potential client does) you've raised price as (it appears from the post) the only issue, without considering that there is so much more to acting for a client than just producing accounts and telling him what tax he has to pay.

 

As pjowen explained, do you want a qualified or QBE accountant, large or small practice, specialist/jack of all trades, tax planning/budgeting/cashflows/vat/paye/ virtual finance director/hand holder etc.?

 

Loads to consider, please don't just focus on cost!

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Replying to In a Daze:
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By kjewal
23rd Nov 2012 13:38

Well, yes, we are focusing on the price because watching costs is as important as getting sales for a small business. I understand the idea that for some businesses there is more than producing the accounts and calculating the corporation tax, but for our business that is in fact all we need.

 

 

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PJ
By paulgrca.net
23rd Nov 2012 12:47

£1,000 as a ball park figure

but could be a lot more or even less depends on many factors.

What area are you in?

 

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Replying to Ruddles:
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By kjewal
23rd Nov 2012 13:31

We are in the London area.

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Teignmouth
By Paul Scholes
23rd Nov 2012 14:02

Ball park

Hi - As you'll have gathered our work is split between routine compliance work eg doing your year end accounts & CT return and general business/tax advice.

Compliance work, whilst routine, very much depends on the accuracy of what you can prepare and when you provide it, ie within a reasonable time, whereas consultancy can vary month by month and year by year depending upon new topics or projects that may appear.  

Whilst I and others are OK just to do the compliance work things don't stay still and with changes in legislation and business practices it stifles the client making best use of our knowledge if we discover something that may be of use to the client or the client doesn't contact us to check something they are planning.  It's also got to be said, basic accounts & tax compliance work is not the most exciting of activities!

On the cost I'd go with Paul above at £1K pa based on reasonably clean books and would add say £200 which would enable you to contact me any time about anything over the year.  This enables clients to discuss changes they are thinking of and us to provide updates and have a chat every so often to keep up to date with you, without the worry of a ticking clock.

We and some firms also charge a setup fee which tends to be around £150 - £200, again though depending upon any complex history.

I'm not that hung up on qualified or unqualified there are good and bad of both but you must ensure the accountant has PI cover and can show a record of keeping up to date on the core services, eg tax & accounting, by recording training & courses they attend.

Finally, many firms will shy away from clients whose preoccupation is £ cost.  Just like any other industry, a good accountant is worth his/her weight and the benefit is based on a good relationship rather than the pound notes.

Happy to have a chat and give you a quote for year 1, I'm in South London leave me a PM.

 

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PJ
By paulgrca.net
23rd Nov 2012 14:26

Acting for London based firms and individuals

We are located in Devon but actually act for a number of individuals and firms in London as the price differential is huge - tends to be those with family living down here so we might only see them once or twice a year - everything else dealt with by email. However these clients are only looking for basic compliance as a rule.

 

 

 

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By User deleted
23rd Nov 2012 15:05

Are you....

..looking for an accountant to simply look after the compliance (ie prepare statutory accounts and tax returns) or do you want a proactive accountant who will actively work with you to maximise profits and minimise tax liabilities. 

There are plenty of both out there (both qualified and unqualified) but the cost will vary dramatically depending on what service you want.  As with anything in life you get what you pay for.

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Replying to lionofludesch:
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By kjewal
23rd Nov 2012 15:22

A: simply look after the compliance (ie prepare statutory accounts and tax returns) 

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Replying to lionofludesch:
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By User deleted
23rd Nov 2012 15:36

Assuming..

the books and records are kept to a reasonable standard.  Based on the information provided I would be looking for a fee of between £1,000 to £1,500 per year for preparing the statutory accounts, tax returns and running the payroll .  We are based in Sheffield so I can imagine fees might be slightly higher closer to you.

Hope this helps

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By uktaxpal
23rd Nov 2012 15:24

Do you have a bookkeeper who knows double entry bookeeping?

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By bigdave1971
23rd Nov 2012 15:47

Remote Accountant

Hi Kjewal

If you are just going on price then you will need to cut the service back to the basic compliance work and nothing (or very little) else.

You may find that as time goes on you realise that there can be benefits for allowing your Accountants to help you out but for now it seems you are not interested in that.

Like many others on here, I am not based in London but can offer a remote service by telephone, post and email which would further reduce your costs. If I were throwing my hat into the ring (as a one man band) then I would charge £800 to complete and file your accounts and company tax return with HMRC and the abbreviated accounts with Companies House.

Additional services like self assessment tax returns for the directors, VAT returns, payroll, bookkeeping and management accounts, etc would be additional services available but would increase the fee accordingly.

Dave

 

 

 

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Replying to LJCASE:
Red Leader
By Red Leader
23rd Nov 2012 16:29

cash job

£50 for cash?

TGIF

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Glenn Martin
By Glenn Martin
23rd Nov 2012 20:42

Hello mate I would do accounts, file CT 600 and abbreviated accounts with Co House for £1000 providing sage is to a decent standard, fully bank reconciled and ledgers in good order. I am in North East but could deal with it remotely or via e mail etc.

Would recommend you pay for some extra advice though as could be invaluable.

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By bernard michael
24th Nov 2012 11:06

As this site is not normally used for clents to locate an accountant and to prevent open warfare breaking out I suggest you contact the choose your accountant web site and open the field of applicants . They will get you quotes from 4 separate firms however I agree the figure of approx £1000-1500 is about right

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By uktaxpal
24th Nov 2012 12:07

I agree subject to the books being in good order not including any tax investigation work.

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