I'm just looking for a very broad idea of the fees that you would generally charge farmers to complete their accounts and relevant submissions? I appreciate that this depends on the type of work and the amount of work but I am only looking for a loose figure? Many thanks
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As your asking a question on pricing, I presume you don’t have much experience in this field?
It’s quite a specialised area, and if you have little experience I would leave it to the experts.
There’s lots to consider such as knowing exactly what an animal is for the purpose of identifying whether it’s herd or stock. Understanding of possible subsidies. That’s as far as my knowledge goes on the subject!
Accountancy costs, proverbial piece of string
I am not sure anyone can give you that useful a figure, accountancy/ tax/ farm compliance etc costs will be a factor of:
1. How much farmer does him/her self re record keeping etc.
Whilst I have not acted for a farmer for a considerable number of years (> than since your involvement in farming) , I am aware that the returns/ reporting required by farmers, be it for field grants or for livestock movements, can take a fair amount of time. I think you have to be a bit more precise re the anticipated scope of works to get any sort of accurate figure.
2. You need to have a bit more knowledge re type of entity (Sole Trader, Partnership, LLP, Limited Company etc) involved.
This will have a bearing. An LLP with say a corporate partner and 3 individual partners , with all tax returns prepared,will likely cost more than a non limited partnership where all partners are individuals.
3. Need to know if labour intensive?
If processing wages for labourers, pickers etc will be required, this will have a bearing on costs, more so if in future it will give rise to Auto Enrolment compliance issues etc.
4. Need to have an understanding of size/ scope of operations.
If writing up books is to be part of process, volume of transactions, how many HP/leasing agreements to deal with etc.
To give some sort of guidance, whilst my part time practice would not take on a farmer, it is too niche for us and I would lack knowledge/ be very rusty, but if I did I would be looking for circa £60 per hour for my time and probably circa £20 per hour for data input/payroll processing. (We are a fair bit cheaper than most, but I have virtually no overheads (part time from home) and one part time member of staff.)
Not possible
Yes I agree with all that but for the purpose that I'm asking I only need a vague general average figure. Are we on average talking less than £1000, £2000, £5000?Thanks
It's not possible to give a vague figure without knowing the above.
We have a few farms on our books - we charge between £1,500 and £4,000 a year depending on the questions asked above and how much work we need to do.
No input re pricing, but if you are getting back into doing farming accounts, you are probably going to have to take hit on the profit to begin with as it's likely to take you longer than somebody who does this regularly.
Farm Accounts
Most of my clients are farming related businesses. Software for farm management would be interesting to see as existing options are not all-singing all-dancing.
Farm accounts
You have to understand farming and produce accounts that mean something to farmers. That includes preparing accounts with gross margins for livestock ( cattle, sheep, etc) crops (wheat, barley, potatoes etc) with related input costs of feed, fertiliser, seeds, vets, haulage etc as well as usual overheads etc.
You will have to know related costs to compare to an owned farm or a rented farm, work out average costs per hectare, average yields per hectare, average prices per crop per tonne, kilos per animal. Work out subsidies due, advise on claims to be made. For tax you must know farmers averaging calculations, capital allowances on silage pits, temperature controlled potato stores etc
Good luck
All singing and dancing
You have to understand farming and produce accounts that mean something to farmers. That includes preparing accounts with gross margins for livestock ( cattle, sheep, etc) crops (wheat, barley, potatoes etc) with related input costs of feed, fertiliser, seeds, vets, haulage etc as well as usual overheads etc.
You will have to know related costs to compare to an owned farm or a rented farm, work out average costs per hectare, average yields per hectare, average prices per crop per tonne, kilos per animal. Work out subsidies due, advise on claims to be made. For tax you must know farmers averaging calculations, capital allowances on silage pits, temperature controlled potato stores etc
Good luck
And don't forget livestock records for animal movement licences, fallen stock, electronic tagging, use of veterinary medicines, withdrawal periods, soil management, application of herbicides and pesticides, feed conversion rates for breeding programmes, single farm payment, basic farm payment scheme, cross compliance - the list goes on. Oh and also different systems for England, Scotland and Wales!
As Howlin Wolf said, good luck.
Kirkers is probably not too far off the mark we charge at. £1,500 would be at the small and simple end, and £2,500 - £4,000 for the more involved or larger setups. There is typically a partnership and some personal returns, but often a company and/or trust lurking somewhere, and possibly some diversified activity like rentals / B&B / FHL / solar and wind, and so on. All these add ons can push the total cost of the operation northwards.
Apropros nothing
As its nearly the weekend....I was talking to a farmer the other day. He said 'I 've got 68 sheep. Can you round them up for me?'.
I said 'sure.....70'.
Cue tumbleweed....
Oh dear...
As its nearly the weekend....I was talking to a farmer the other day. He said 'I 've got 68 sheep. Can you round them up for me?'.
I said 'sure.....70'.
Cue tumbleweed....
That's baaaaaaaaaaaad!
I once had a trainee who moved all the payments described as "Claire" to drawings.
If you get why that's funny, you're probably an agricultural accountant ;)