Charges for Accounts

esmith

Can anyone give me a rough idea of what you would charge for a set of accounts for a recruitment consultant, he does £280k t/over and is a sole trader.
He wants s/l, p/l, and set of accounts?
I have really only dealt with self employed tax returns and a small business where I included the accounts within the annual fee.
Any advise is greatly appreciated.

Cheers

Emma

Timmne

I'd charge a minimum of £300 for a set of accounts - FYI I charge around £120 for a tax return on top of that.

What do you mean he wants s/l and p/l? What does he want you to do with them?

Peter W

What sort of records does he have?

How many employees are there?

slick

Charges for Accounts

Hi Emma
I've just finished working for my previous employer in a local firm of accountants and am in the process of becoming a licensed member in practice. One of my biggest clients was a recruitment company! Fees would depend on a number of factors essentially, the current method of record keeping, Tax & VAT no. of employees etc. This could all be established with an interview.
In my experience, fees could reasonably be expected to be heading towards the £1,000 if not beyond, going by the level of turnover alone!
If you need further assistance in this regard, then let me know otherwise hope this helps:001_smile:

Monsoon

Peter W wrote: »

What sort of records does he have?

That's key.
You can't quote without knowing what his books and records are like.

esmith

The gentleman has turned up with his books, he has provided me with his s/l, p/l, cashbook, bank rec and payroll. The only thing I am missing is his fixed asset register.
I have a copy of his last years accounts from his previous accountants.
I assume that now I need to write to the accountants requesting all the information they have from last years accounts such as accruals, prepayments etc?
Does anyone have a template to a previous accountant i can use as i dont have one? I have never had to deal with a previous accountant and hope this wont cause any issues?
He says he is doing his own tax return so I assume he has done it this way in the past, its a new one on me tho!

Thanks
E

Timmne

Isn't there a clearance letter on the MIP resources site? I might be wrong!