System for pricing
I have just finished reading Effective Pricing for Accountants and like the concepts. I would like to try some menu pricing for compliance services and was wondering if anyone else has adopted this type of thing.
The book shows that based on a survey of firms the average firm charged a price of £250 for a self assessment return containing rental income which is fine. But what I don't understand from this data is the quality of the books/records.
For example, I have a number of clients who require an SA tax return with Land & Property pages as well as Employment pages. Some clients provide bank statements, invoices for allowable expenses and mortgage statements. Others provide a complete analysis and totals for rents received, mortgage interest paid and allowable expenses.
Would it be best to provide a range of prices for my menu - for example £250 to £400, depending on whether or not the client provides detailed analysis/totals?
Any suggestions on how to approach other areas of compliance work in terms of menu pricing would be greatly appreciated, especially if anyone has introduced such a system for pricing - e.g. preparing accounts for non-VAT registered sole trader business, preparing accounts for VAT registered partnership with turnover of c£250k etc.
Also, I feel that some of my fees for this type of work (i.e. rental accounts and SA tax return) are too low and introducing menu pricing will raise some fees threefold. Has anyone experienced this before and how did you fair in terms of explaining the increases to the client?
- recompense capital input 206 12
- How can i allow my clients to digitally sign? 743 15
- Tax refunds for 2014/15 1,150 22
- Spousal transfer and PPR 701 31
- Overseas business trip - accompanied by family 75 1
- unmarried couple, two houses, one rental - CGT? 256 8
- Exports/Dispatches - non VAT registered 106 2
- Capital allowances on taxis 231 2
- CT losses carry back 108 1
- Thoughts on revenue recognition 547 17
- help guys! self employed or still company income? 174 2
- Do I have grounds to dispute our accountant’s fees? 771 19
- Deferred Tax Asset & Liability 420 12
- Where has Portia gone? 2,281 68
- Financial Advisor / Mortgage brokering 157 1
- Associated disposals - Entrepreneur's relief 184 3
- Are Sales to Germany considered VAT Taxable turnover for HMRC? 232 5
- New Client wants an Income Certificate for a Mortgage 993 22
- What shall I reduce payments on account to? 220 3
- transferring from franchisee to ltd comapny 263 5
- Services via intermediaries and new HMRC reporting requirements 800
- RTI - duplicate employee record 565
- Pensions Regulator 455
- How hard is it to reduce a code? 414
- Portia ... Where art thou 337
- Sanzar 317
- How do you do it 304
- Digital marketing focus group 300
- Kashflow balance sheet difference 274
- new investor structure 185