DO YOU THINK ACCOUNTING FEES

HAVE INCREASED IN THE LAST 20-30 YEARS OR STAYED SAME?

Didn't find your answer?

interesting question. what is your opinion on the fees trend in every service accountants in public practice provide? Its a simple question on purpose to assist free expression of views without any limitations in a relaxed manner after the end of another self-assessment deadline.

Replies (8)

Please login or register to join the discussion.

avatar
By carnmores
02nd Feb 2023 17:02

perhaps too large a spread in years to say other than the only way is up. But it's a good and interesting question. I filed 31 tax returns on Monday & Tuesday in the days pre SA I doubt I would have managed more than 6, the computer says yes. Anyway much less time on average is spent on each return so fees shouldn't have gone up much tho for those calculating their charge out rates based on a salary multiple of 4 / 5 + fees will have increased dramatically

Thanks (0)
RLI
By lionofludesch
02nd Feb 2023 17:08

Definitely gone up over the last twenty years.

That's half a career !

Thanks (0)
By ireallyshouldknowthisbut
02nd Feb 2023 17:48

I think they have fallen in real terms, albeit we have moved from "too cheap" to "mid market" in my own business so my rates have gone up about with inflation, if not well above in some places.

Definite falls in company accounts in real terms, but they are much easier than 20 years ago to produce not least as the simple reporting requirements with no notes to speak of, and no more posting out things in envelopes which saves time and stamps.

Our basic tax returns I think are more time consuming than 20 years ago as there is just so much more to them, despite the tech, and its so much harder to get HMRC's to fix anything.

Thanks (0)
John Toon
By John Toon
02nd Feb 2023 18:24

In general I would say fees are up. Generally my fees rise by 5% every year as a minimum and this has been the case consistently. Any undervalued fees have ether been jettisoned or levelled up and any new work coming in tends to be priced at a slight premium to existing work. In terms of audit I reckon inflation is much higher 10-15% per annum at the moment which probably offsets the collapse in fees some 10+ years ago

Thanks (0)
RLI
By lionofludesch
02nd Feb 2023 18:35

Are we talking hourly rates or fees billed to clients ?

Given the influence of software over twenty years, you could still be billing the same (or not much more) yet working less hours on a job.

Thanks (0)
avatar
By Truthsayer
02nd Feb 2023 18:46

Fees for small clients have increased at a rate below inflation for the past twenty years. That is perfectly proper, and just the market at work, as it now takes far less time per job than it used to.

Thanks (0)
avatar
By meadowsaw227
03rd Feb 2023 10:54

I took on a client 12 years ago and knocked £1k off the fees as I thought the fee was too high.
Still charging the same fee today as I still think the fee is too high.
Client is happy with my explanation.

Thanks (0)
avatar
By Justin Bryant
07th Feb 2023 12:01

I would guess yes if this is a good guide of the wider picture for large (audit) clients at least: https://www.theqca.com/news/briefs/462556/the-never-ending-story-of-annu...

Thanks (0)