sub contracting

System
System Posts: 100,537 🤖 Admin 🤖
edited 8:21AM in General accounting discussion
I recently became MAAT.<BR><BR>Got experience in book keeping, account preperation and payroll.<BR><BR>I now want to become self employed and wanted to know what kind of rates to charge for the above tasks as a sub contractor and if I was to find my own clients.<BR><BR>I would be gratefull for any kind of assistance in this area.<BR><BR>THANKS!

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    sub contracting

    the 'going rate' for bookeeping services in the Midlands is around £13/hour, payroll tends to be per number of staff - generally around £2/£2.50 per month(or week if weekly paid)-this is based on a computerised payroll with minimum hassle. The rest is down to what you think you can charge but I have found that for a simple sole trader self assessment where the records are in reasonable order you won't be able to chgarge mush more than £250 - work on at least £20/hour for this type of work and if you can charge more, do so.<BR>regards<BR>Gerard Somers
  • System
    System Posts: 100,537 🤖 Admin 🤖
    sub contracting

    I am interested in your comments and figures. The £13/15 rate is broadly in line with what I would anticipate charging but - <BR><BR>-what do you find is the monthly cost per client? I usually budget for 2hrs min per monthly (say£30)? Also, when you say a simple sole trader charge of £250, is this for taking all the records at the year end and writing up the records for the year/any part outstanding and then doing the accounts and tax etc (i.e. this is not on top of a monthly bookkeeping charge?)<BR><BR>Grateful for any clarification on this<BR><BR><BR><BR><BR><BR><BR>
  • System
    System Posts: 100,537 🤖 Admin 🤖
    sub contracting

    I am disabled mentally, I get the best rates from people who are contacts/freinds of one sort or another. I have regularly tried getting and holding down a job, which usuall;y lasts up to two years in accountancy practices. In order to keep a contract in September last year 2003, I had to go subcontract. It somehow makes you feel more in control, but if you have to compromise your rate and you get taken advantage of as most subbies do(just like temps), then theres no benefit in it. Because face it your rate will always be negotiable, if you are looking for work rather than overworked(in demand).<BR><BR>So dont tout for subcontract work, be around and take opportunities that come to you, and then when you know others in the same position, you can refer work to them that is beyond your competence.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    sub contracting

    I would expect a cash book (of some sort) and records of invoices, payments, bank statements etc and it would include producing a P&L and preparing the tax return and advising on tax due etc. <BR>People are all individuals, so some will produce chapter and verse which is easy to turn into a tax return, others won't have a clue, will have lost stuff etc etc. You just have to suck it and see- if you feel the job is becoming a hassle, increase your charges accordingly until either:<BR>a) the client goes elsewhere<BR>b) You no longer view it as a hassle because they are paying you so much!<BR><BR>You will know if you get it right if you keep both your clients and your sanity - I at least have never lost a client- not sure about the sanity though!<BR>regards<BR>Gerard

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