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Furlough Scheme - Processing Fee from Accountants?

How much should accountancy firms charge?

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I was wondering what accoutancy firms are charging for processing claims under this furlough scheme? What is the going rate (no doubt this differs from firm to firm and from client to client) but I wanted to get a general idea what is being charged let's say for OMB businsesses with 1 or 2 employees?

Thanks in advance!

 

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RLI
By lionofludesch
20th Apr 2020 17:06

The length of your string springs to mind. I did a couple of self employed with one employee each inside half an hour this morning, Spent most of the rest of the day on an 18 employee company, who are topping up furloughed wages, pay a pension on all wages, not just above the threshold and furloughed employees mid-March. Much more complex and much of it done by hand.

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ALISK
By atleastisoundknowledgable...
20th Apr 2020 18:38

We’re doing it free for payroll clients, a nominal 1% on non-payroll clients (who do it in house or use a bureau).

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By mrme89
20th Apr 2020 19:07

It wouldn’t sit right charging for this.

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blue sheep
By Nigel Henshaw
20th Apr 2020 19:31

No charge, others will no doubt be profiteering.....

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By Twa
20th Apr 2020 19:44

Not going to lie. I did think about charging a few annoying clients. But, decided against it in the end.

They are going through some tough times, and it makes no sense for me to charge them for this when their staff need it more than they do. But, I'll see how they disperse the funds when I look at their accounts and make a decision from there.

Otherwise, nope. I'm not charging for this. It isn't anything like when Auto-Enrolment came about.

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By Sheepy306
20th Apr 2020 19:57

I spent quite a bit of time over the weekend preparing a very detailed spreadsheet with most of the figures and calculations, and I've submitted the best part of 30 claims today, with 1 final 20 employee claim to submit tomorrow. Not to mention the continuing hours of research and support that has been undertaken to date.

I won't be charging clients anything, it just wouldn't feel right sending them an invoice in these times. All the free work done in the last few weeks (which has been a huge amount) has done nothing for my own cashflow and financial position, but at least as accountants we have recurring future work to rely upon, which is something many of our clients don't enjoy. I anticipate that over 95% of our clients will survive, luckily we don't focus on retail , leisure or industry.

I see it as an investment in our ongoing and future client relationship, it cements what is hopefully a good existing relationship, plus it means that I don't have to worry about buying the round of drinks or paying for a meal the next time I meet them !

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By JD
21st Apr 2020 18:26

Interestingly, I have clients telling me to make sure I do make a charge, despite my reluctance. I tend to support, it's an investment in our clients view.

Not sure I can agree with the profiteering comment, unless the fee note is excessive in relation to the work and value provided to the client.

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Replying to JD:
blue sheep
By Nigel Henshaw
20th Apr 2020 20:47

It was a tongue in cheek moment, but there are some charging phenominal amounts, each to their own, its not my style

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Replying to NH:
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By JD
20th Apr 2020 21:00

Fair Comment, NH,

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Replying to JD:
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By the_fishmonger
21st Apr 2020 14:08

Most of my payroll clients we've spoken to have come back with stuff like this - "don't do it for nothing, I realise it's taking up your time, so bill me for it." or "I wouldn't do XYZ for nothing, so why would I expect you to?".

Quite taken aback, if I'm honest, in this day and age of where 'how much can I get for as little as possible' seems to be the norm.

Fees will be based on actual time incurred to get the claims done and based on the usual hourly rate for payroll work. so, those who send their info at the first time of asking will pay less as mentioned in our correspondence!

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Slim
By Slim
20th Apr 2020 22:25

Its taken up a lot of time but I haven't charged, slightly worried about "come backs" thought!

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By I'msorryIhaven'taclue
21st Apr 2020 00:09

Just charge 80%

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Replying to I'msorryIhaven'taclue:
RedFive
By RedFive
21st Apr 2020 22:11

With a 19% discount

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Psycho
By Wilson Philips
21st Apr 2020 09:00

The charitable nature of some is admirable, but this particular practice is not a charity and I do not consider an attempt to recover some of our costs to be profiteering.

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