Help and Advice Please!!

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reddevil68
reddevil68 Registered Posts: 18 New contributor 🐸
in General accounting discussion
My sister and a friend of hers are looking at going into business together and are currently putting a business plan together. I've been studying AAT for 12 months and am about to take Unit 31 sims in March, so I'm still very new to all this! They've asked me about doing their accounts for them and while I feel I could manage the daily/weekly accounts I feel they'd be better paying someone qualified to do year end accounts and dealing with tax returns. Can anyone give me an idea of how much this would cost?

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  • whiterose
    whiterose Registered Posts: 49 Regular contributor ⭐
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    I think your instincts are right. But if you are confident about doing the bookkeeping then they should be able to get their accounts and tax returns done for a very reasonable fee - around £200 to £250. Ask friends to recommend good local firms to you.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Agree, your instincts are right.

    If you're confident doing the bookkeeping then that's fine.

    I'd put partnership accounts more at the £500 mark but it really depends who you ask and what exactly they require.

    Remember price is not everything - value for money is. If they go cheap they might get cheap! Get them to speak to a few, and choose the accountant they feel happiest with.

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