Accountants certificate charge

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Do you charge a director/ shareholder extra for completing one for a bank? If so how much?

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By doubletrouble
16th Jun 2024 13:22

No, I do not charge clients

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panda ketteringUK
By ketteringUK
16th Jun 2024 13:49

It depends. If a simple certificate on our template or just tur enter net profit, ct and dividend - no charge for existing clients which are on direct debit.

For a one off annual LTD clients, SATR only clients or where the lender wishes us to provide considerable amount of details it's £50 per applicant.

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By johnthegood
17th Jun 2024 07:02

no

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By Mr_awol
17th Jun 2024 10:15

If a client needs basic info or TYOs once in a blue moon (renewing personal mortgage deal etc) often nothing.

Multiple BTLs and seem to want more and more info, more and more regularly, absolutely.

Crap broker who insists on loads of stuff because it is easier (for them) to get it all 'just in case' too right.

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Sandman
By Mr Sandman
17th Jun 2024 13:00

Accountant's certificates may not take long to complete, but they are not risk free.
Should there be an error, or fraudulent information has been provided, a legal claim may follow.
I also find a reluctance amongst clients to say please or thank you for this service.

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Replying to Mr Sandman:
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By Beancounting
17th Jun 2024 13:18

Also they ring you every 5 minutes until it is completed.

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Replying to Beancounting:
Should Be Working ... not playing with the car
By should_be_working
18th Jun 2024 12:16

Beancounting wrote:

Also they ring you every 5 minutes until it is completed.

Ah yes, because it's soooo urgent or they'll lose the mortgage / the purchase will fall through and everyone's waiting on it...
.... then six months later we get the "we've just moved" email.

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Replying to Mr Sandman:
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By Paul Crowley
18th Jul 2024 13:55

They get told by the lending agents that they have never heard of an accountant charging ever in their entire life.

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By JD
17th Jun 2024 14:27

Send the broker a quote for the cost of completing that work for them, they are afterall the ones getting a nice fat commission for your work and exposure to risk

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By Arcadia
18th Jun 2024 13:39

ICAEW technical release states that to avoid an implied contract members do not charge additional fees for references.

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Replying to Arcadia:
Slim
By Slim
18th Jul 2024 12:06

interesting thank you

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Replying to Arcadia:
Stepurhan
By stepurhan
18th Jul 2024 12:15

Are you able to link to the technical release? I'd be interested in knowing their thinking.

I could see there would be an issue if you billed the people asking for the reference. I cannot see the issue from simply charging your client to compile information for a reference. In what way is this different than compiling information for a business plan to be presented to a bank?

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Replying to stepurhan:
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By Arcadia
18th Jul 2024 14:22
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Replying to Arcadia:
Stepurhan
By stepurhan
18th Jul 2024 14:43

Arcadia wrote:

https://www.icaew.com/-/media/corporate/files/technical/technical-releas...

This is the link, para 10.

Thanks for that, much appreciated.

Whilst only the OP will know if that is what they are asking about, the accountant certificates I was thinking about were ones where you are just asked to show the historical income over several years. All you are confirming as an accountant in those it that those are definitely the figures reported and taxed for the individuals concerned. Those I don't see a problem charging for.

The sort of references shown under that link I agree should not be charged for. Given how such references are, quite rightly, so heavily caveated as to be meaningless, you have to wonder why lenders still ask for them.

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Replying to Arcadia:
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By Paul Crowley
18th Jul 2024 13:58

They also specify the type of report and that no new work will be undertaken and that only facts will be reported, no estimates.
It does not work.

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