How much would you charge?

How much would you charge?

Didn't find your answer?

I've been approached by someone with 4 x small ltd co, all start ups. They were incorporated in Oct 2011 and nothing has happened since. Each Co has a bank accounts with some transactions, mainly start up cash from director and some cash withdrawals, perhaps 20 other trans in the year.  The accounts will become >3mths late in 2 weeks time so director already has fines of £1500 which will double if he doesn't sort asap.  I'm busy, could do without this, but tempted to quote as some cash before I go on hol would be good.  I haven't met the client. We have tried to arrange twice, but he cancelled.  I'm thinking £2,500 + VAT just because its a headache. Is that unrealistic? What would you charge? He's in London. I'm in Midlands.

Replies (12)

Please login or register to join the discussion.

By Moonbeam
30th Sep 2013 14:53

Is £2,500 enough?

I think you may regret this given the hassle he's already starting to give you!

Thanks (0)
avatar
By leicsred
30th Sep 2013 15:00

Depends - if he seemed ok and I thought it would be a good job going forward I would probably charge £1,600 plus VAT as a decent fee for the work involved, and tell him if they traded more the fee would rise in future years.

I am in the Midlands too.

 

Thanks (0)
avatar
By andy.partridge
30th Sep 2013 15:13

Out of interest

Why has he approached you? Meeting is always going to be a problem. Why 4 simultaneous start-ups? Why has no accounting been done?

As I type this I am beginning to think that this will turn out to be an enormous headache and I might pass on it. Whatever, make sure you get the money upfront.

Thanks (0)
Man of Kent
By Kent accountant
30th Sep 2013 15:24

Go for it

£2,500 is reasonable if each company is straightforward and all information is provided.

I'd make conditions:

1. He travels to you.

2. Paid in full before starting the work.

3. All information to be provided asap - within 7 days

4. Standing order in place for 2014 year end - starting in November.

5. 2013 year end  - 50% paid on starting the work, 50% on completion.

If he says no walk away and remind him:

1. Additional fines he'll receive in a months time.

2. Trouble he'll have finding another accountant to complete the work in time.

Thanks (0)
Replying to SteveHa:
Red Leader
By Red Leader
30th Sep 2013 15:26

walk away

and don't look back.

Two meeting cancellations? Do me a favour!

Thanks (1)
avatar
By User deleted
30th Sep 2013 17:30

I probably would

Yes go with your fee - all upfront. Every penny. Just to be safe. He emails / posts you the info so you're not bothering with wasting time trying to arrange meetings / having meetings. 

If he doesn't provide all the info at the time you ask for it once and don't chase again. He's the one facing more fines. 

It sounds like an easy enough job (client contact hassle aside) so if you eliminate the client hassle (by insisting on money upfront, asking once and not wasting more time) you're on a winner. Or you could PM me the details and I'll quote :)

Thanks (1)
avatar
By andy.partridge
30th Sep 2013 17:35

You wait

4 start-ups with 4 bank accounts. I wonder how many transactions have gone through the correct account?

Thanks (2)
Replying to su@1forall:
Red Leader
By Red Leader
30th Sep 2013 17:51

@Andy

Good point.

Clients with >1 ltd co typically and unwittingly create quite a lot of work just sorting out the inter-co a/cs.

With 4 companies, the permutations are endless! Well, 6 actually. A-B, A-C, A-D, B-C, B-D and C-D.

Thanks (1)
avatar
By thomas
30th Sep 2013 21:52

He says he liked my website, wanted someone that specialises in small businesses.  He read my blog apparently.  He could be a con man and waste my time.  I'd need 50% cash up front and 50% before I file.    I'll do proper credit checks online to cover my backside as I haven't met him.  He has a day job. This is on the side. He has big plans. Seems nice enough on the phone.

Thanks (0)
Teignmouth
By Paul Scholes
30th Sep 2013 22:16

Don't do it

Agree with Red Leader.

Thanks (1)
avatar
By bernard michael
01st Oct 2013 08:51

The obvious question is why he waited form Oct 11 to now to find an accountant? This will mop up your time for little profit

Walk away there be trouble ahead if you don't!!!

Thanks (1)
By nmprobinson
02nd Oct 2013 21:05

Does he want you to do it...
...at that fee??

I'm surprised in my experience if he sounds like the sort of client who is willing to pay £2500 for this.

I bet he expects it to be done very cheap!!

Thanks (1)