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Going rate for a subcontractor Accountant

Going rate for a subcontractor Accountant

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We are looking to use the services of a subcontract accountant to prepare final accounts and lead schedules from raw records and clients bookkeeping (mix of small Ltd's, partnerships and sole traders). The person we have in mind has over 25 year experience and would not be involved in any tax issues. 

Any advice of hourly rates?

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By ShirleyM
07th Oct 2014 16:01

Minimum

I would say a minimum of £25 per hr for someone proficient, but better for both parties if they will agree to work on a % of the fees.

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By johngroganjga
07th Oct 2014 16:11

Easier if you would tell us what they have quoted, what their qualifications are and what their CV looks like.

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By Bluffer
07th Oct 2014 19:18

More or less than employees?

I wouldn't want to upset any employees who are paid less. I especially wouldn't pay a rate greater than that paid to the employee who is going to review the sub-contractor's work.

(Bit of an historical sore point for me.)

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By Manchester_man
07th Oct 2014 21:20

I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee.

I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

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Replying to NeilW:
Hallerud at Easter
By DJKL
07th Oct 2014 22:08

No idea of current practice but

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

 

I did subcontract work back in 1994 when the deal I struck with the supplying firm was a third of the fee, so very slightly better. However as I did not get paid until the firm was paid by their client the extra 3% may have been reasonable; the last one paid up 18 months later in 1996.

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Replying to Chris.Mann:
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By Manchester_man
08th Oct 2014 12:36

Typical, an accountant making a fuss over 3%

Haha, only joking. You're quite correct I think, in that a third being the norm. The place I did work for were a bit on the mean side, thinking about it.

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Replying to NeilW:
By williams lester accountants
08th Oct 2014 13:24

Rates

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

Rates in Wales are significantly lower, we can hire in Cardiff at £15 per hour, and in Valleys for £12 per hour for a fully qualified FCCA with 10 years practice experience.

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Replying to gainsborough:
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By Manchester_man
09th Oct 2014 00:19

OMG

williams lester accountants wrote:

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

Rates in Wales are significantly lower, we can hire in Cardiff at £15 per hour, and in Valleys for £12 per hour for a fully qualified FCCA with 10 years practice experience.

OMG ! Really that low?

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Replying to lionofludesch:
By johngroganjga
09th Oct 2014 08:56

Astonishment

Manchester_man wrote:
williams lester accountants wrote:

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

Rates in Wales are significantly lower, we can hire in Cardiff at £15 per hour, and in Valleys for £12 per hour for a fully qualified FCCA with 10 years practice experience.

OMG ! Really that low?

I share your astonishment.

£12 per hour is barely £20k per annum gross before expenses.

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Replying to RedFive:
By mrme89
09th Oct 2014 09:07

In proportion with living costs?

johngroganjga wrote:

Manchester_man wrote:
williams lester accountants wrote:

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

Rates in Wales are significantly lower, we can hire in Cardiff at £15 per hour, and in Valleys for £12 per hour for a fully qualified FCCA with 10 years practice experience.

OMG ! Really that low?

I share your astonishment.

£12 per hour is barely £20k per annum gross before expenses.

In the valleys you go to your local, have 3 pints of bitter and a pie and take home a sheep for less than fiver.

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Replying to AJLang:
Hallerud at Easter
By DJKL
09th Oct 2014 11:33

Travel in space and time

mrme89 wrote:

johngroganjga wrote:

Manchester_man wrote:
williams lester accountants wrote:

Manchester_man wrote:
I 'think' it is normal for subcontractors to be paid a higher hourly equivalent rate than employees as the employee enjoys the job security, holiday and sick pay and other perks of being an employee. I know the going rate in Manchester is 30% of the fee for the particular job, or c. £20 per hour.

Rates in Wales are significantly lower, we can hire in Cardiff at £15 per hour, and in Valleys for £12 per hour for a fully qualified FCCA with 10 years practice experience.

OMG ! Really that low?

I share your astonishment.

£12 per hour is barely £20k per annum gross before expenses.

In the valleys you go to your local, have 3 pints of bitter and a pie and take home a sheep for less than fiver.

I did not realise Wales was only accessed through a wormhole these days!!!!

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By King_Maker
08th Oct 2014 14:05

The last time I engaged a sub-contractor (not for accountancy/tax work), it was done on a percentage basis rather than an hourly rate.

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