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Going self employed - Prices to charge clients

axl2dervaxl2derv Well-KnownRegistered Posts: 172
Hi all,

Could somebody please help. I am thinking of going part time, self employed shortly and I am only guessing what I think I should charge. Could you please view my site and tell me if my prices are too high or too low. Any advice on how to start up would be great too.

www.dervingassociates.com

Many thanks

Carl

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Carl - first comment is do not price on turnover. What if someone with a 10k t/o has their records in a mess? You've quoted a fixed fee based on their turnover and you could very easily be well out of pocket. Sorry! I just don't want you to learn the hard way.:ohmy:

    As a rough guide people want fixed fees, so an inclusive price for accounts and tax return in the region of £300 give or take for a sole trader with good records from TB/ nearTB is a fairly good average. Add bookkeeping at x per hour if records aren't near a TB.

    This is just my pricing model, am sure others will be along shortly to add theirs.

    Good luck :)
  • T.C.T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    I charge depending on the work involved, ie the state of the book-keeping or lack of. I charge previously late payers extra, because I know I will have to chase them. I try to charge basically on how long it takes me but with those and other variations.
  • rwprwp New Member Registered Posts: 7
    I have just had a quick look at your website, you need to be careful if you intend to study to Chartered after you qualify as AAT, I think i'm right in saying that both the ACCA and the ICAEW don't allow student members to do anything more that bookkeeping up to TB without a Practicing licence. Something to look into!
  • axl2dervaxl2derv Well-Known Registered Posts: 172
    rwp wrote: »
    I have just had a quick look at your website, you need to be careful if you intend to study to Chartered after you qualify as AAT, I think i'm right in saying that both the ACCA and the ICAEW don't allow student members to do anything more that bookkeeping up to TB without a Practicing licence. Something to look into!

    Thanks for the advice. I intend to apply for a practicing licence from the AAT after I qualify. Does this give me grounds to practice under ACCA?

    Thanks

    Carl
  • rwprwp New Member Registered Posts: 7
    No I don't think so, if you were to practice under the AAT, I don't think you can even study with the ACCA as its against there rules, the link below to the ACCA website gives some info about this. To practice under the ACCA you need to pass all you exams, the practical experience requirment and also have 3 years experience with an approved employer. I looked into this when I passed AAT, and decided I would stay at work and study towards ACCA, then look at my options. If you want to go it alone now I dont think ACCA would be the right route, sorry.

    http://http://www.accaglobal.com/members/professionalstandards/prac_info/practisingcertificates/
  • SevrenSevren Well-Known Registered Posts: 101
    Hi Carl - I am going to be blunt and others may disagree with me, but I think that potential clients are looking to buy into your services with confidence over everything else - to be honest some of the wording could do more to enhance that.

    I guess that I am trying to say that you are being a little too honest about the size of your practice and where you are with your studies - I wouldn't lie either, but just don't highlight the potential shortfalls. In my experience I would say that most customers want a good feel good balance between low rates and confidence in abilities - most have no idea of the various qualifications.


    I would also be wary about being too specific about fees on a website as I have found that work parameters are never that straight forward - always best to see what you are dealing with and then quote !

    Please don't take offence - I wish you the very best of luck
  • axl2dervaxl2derv Well-Known Registered Posts: 172
    Sevren wrote: »
    Hi Carl - I am going to be blunt and others may disagree with me, but I think that potential clients are looking to buy into your services with confidence over everything else - to be honest some of the wording could do more to enhance that.

    I guess that I am trying to say that you are being a little too honest about the size of your practice and where you are with your studies - I wouldn't lie either, but just don't highlight the potential shortfalls. In my experience I would say that most customers want a good feel good balance between low rates and confidence in abilities - most have no idea of the various qualifications.


    I would also be wary about being too specific about fees on a website as I have found that work parameters are never that straight forward - always best to see what you are dealing with and then quote !

    Please don't take offence - I wish you the very best of luck

    Thanks for the advice. What you are saying makes perfect sense. Would you please be able to elaborate for me as I would like to get everything right.

    Thanks

    Carl
  • DeanDean Experienced Mentor DevonRegistered Posts: 646
    axl2derv wrote: »
    Thanks for the advice. What you are saying makes perfect sense. Would you please be able to elaborate for me as I would like to get everything right.

    Thanks

    Carl

    Carl, please don't take offence but I am going to continue Sevren's bluntness and elaborate for you...

    Don't run before you can walk!

    Regards

    Dean
  • axl2dervaxl2derv Well-Known Registered Posts: 172
    Hi Dean,

    Please elborate? I feel confident at doing the work it's just the setting up that is a problem as I have never set up a company before.
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