What's the going rate these days?

What's the going rate these days?

Didn't find your answer?

As I see it online cheap accountants seem to be driving fees down if anything.

I'm intrigued to get a feel for what the going rate is for small firms with small business clients.

What would we think is the average fee for:

- limited accounts/ct600
- sole trader accounts
- basic tax return
- bookkeeping/vat
- payroll
Etc

I'm fairly happy with my fee structure but potential new clients seem so price driven these days. What are your thoughts?

Thanks in advance.

Replies (9)

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Man of Kent
By Kent accountant
18th Sep 2015 09:09

I'll show you mine if...

come on - show your fees and you'll get a decent response.

Thanks (6)
By Tim Vane
18th Sep 2015 09:14

Yes, your prices are on your website so you may as well share them here.

Thanks (2)
By stratty
18th Sep 2015 10:51

Fees

We operate on a fixed fee regime. 

The fee is the fee and if the potential client does not like that they are happy to go elsewhere.

Thanks (2)
By nodhedz
18th Sep 2015 11:19

You get what you pay for
I always think. Also, a client chooses you because you're the cheapest it before you know it, they're off next year to the next firm along that's suddenly cheaper than you. Give quality and set fees that you think are fair.

Thanks (1)
By nmprobinson
18th Sep 2015 16:16

I agree
Thanks.

Thanks (0)
Glenn Martin
By Glenn Martin
18th Sep 2015 16:27

Suprising How Many URL's are Cheap Accountant etc

Its quite suprising how many people must type in "cheap accountant" into Google as many firms have this or variations of it as there URL. I often wonder why an accountant would brand himself as cheap as oppose to say "good value". I wonder if you Googled "Cheap Heart Surgeon" you would get a similar response.

Thanks (2)
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By marks
18th Sep 2015 23:13

fixed fees

We operate fixed fees

Our standard package includes the following

1. Company year end stat accounts

2. CT return

3. Monthly payroll for up to two employees (extra if more than 2 employees)

4. 2 x personal tax returns (assuming not many other sources of income other than salary/dividend from the Ltd Company)

5. Annual Return

6. Telephone/Email support and Meetings in year (provided not abused).

Fees based on quality of records and turnover level.  If records are of satisfactory standard then fees are

£900+VAT            Turnover to £40k

£1200+VAT          Turnover to £80k

£1800+VAT          Turnover to £250k

£2400+VAT          Turnover to £500k

£3000+VAT          Turnover to £1m

If client needs bookkeeping/quarterly mang accounts then from £150+VAT per month extra.

All our fees clearly listed on our website.  

Had some clients who at an initial meeting and didnt know the prices before attending who thought that we were initially expensive but when they have went away and seen prices elsewhere have come back and said prices are reasonable.

We are a CA firm based in Central Scotland with about 180 clients.

Have been going about 3 years and initially charged clients low fees to get them on board.

Only this week have increased my very first client's annual fee from £1,000+VAT to £1,440 + VAT and another early client from £920+VAT to £1560+VAT based on the work we are doing for them.  I was a bit dubious about increasing the fees so much but they said the fees were fine and they were happy with the service provided.

Goes to show if you are providing a good service and have happy clients they will pay reasonable fees and wont always jump ship for a cheaper alternative.  There are always clients who are fee sensitive but if the work involved dont justify the fee charged and you have more than enough work paying a reasonable fee, which we do, then you can always wish them the best and part on good terms.

I think we could reasonably increase our fees by 25% across the board and we probably would be better off in total fees.

 

Thanks (1)
avatar
By Matrix
19th Sep 2015 18:40

Thanks for sharing marks.

How rigid are you with the bandings?  I find that clients with higher turnover have bookkeepers and better records than some with lower turnover.

Also if I prepare VAT returns/management accounts or review bookkeeping during the year, the accounts fee may be lower since I have already charged for reviewing the records.

It is hard to find a fee structure that fits all.

Thanks (0)
Replying to BryanS1958:
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By marks
19th Sep 2015 18:52

not a problem

Matrix wrote:

Thanks for sharing marks.

How rigid are you with the bandings?  I find that clients with higher turnover have bookkeepers and better records than some with lower turnover.

Also if I prepare VAT returns/management accounts or review bookkeeping during the year, the accounts fee may be lower since I have already charged for reviewing the records.

It is hard to find a fee structure that fits all.

Not rigid at all with the bandings they are just really a guide for people looking at our website.  If a client turnover over £70k one year and then £90k the next then wouldnt necessarily move them from fee of £1200 + VAT to £1800 + VAT however if they moved from £70k to say £150k then would and quote the bandings as the reason.  

Only 3 of our clients have bookkeepers.  The rest either do it themselves or we keep the records.  These three get charged the standard price as their records are of a good standard.  

Yes note what you say re the VAT returns/management accounts and the price of £150 + VAT per month recognises this.  This is the starting price for bookkeeping and the monthly charge in many cases is actually higher than this.

Thanks (0)