MIP Fees Survey - How much should I charge?

burg
burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
So what's the answer?

Many questions are asked in this and other forums around pricing. This can range from one off jobs to pricing in general. A good guide is looking at how long it will take and using your desired hourly rate to come up with a fee. Another guide is to get hold of last years' accounts and look for what the client paid last year. Surely a good idea would be to find out what would others charge for the same work? Well now you can (anonymously).

I plan to run a fees survey to all MIP's, experienced, new and potential.

It will involve a series of questions (sent via private message or email) surrounding different examples of accounts/tax work for which you answer how much you would charge. (here's an old example bases on Monsoon and Steveo5678 - forums.aat.org.uk/discussion/438929/mini-fees-survey-2014)

I will then compile the data keeping your identity anonymous to the other participants. All participants will receive a copy for which you can compare where you sit against others as well as against the averages.

The more interest we get the better the results will be so please add you name below or private message me. Don't be scared the questions will be straightforward and if you don't provide any data you don't get any results. Not all of us can be right or wrong and there are bound to be variations, so please sign up below and have a go.

Ian
Regards,

Burg
tombutterworthStuartWBeccaLouJ9PatriciaEthneJawzRJ_123

Comments

  • Buhir_the_Bookkeeper
    Buhir_the_Bookkeeper Registered Posts: 36 Regular contributor ⭐ ? ⭐
  • MarieNoelle
    MarieNoelle Moderator, MAAT, AAT Licensed Accountant Posts: 1,369
    Please add me to the survey - thanks MN
    StuartW
  • Dinky
    Dinky MAAT, AAT Licensed Accountant Posts: 26
    Please add me too - thanks
    StuartW
  • shughes
    shughes Registered Posts: 1 New contributor ?
    A good idea. Please add me to the list. Thanks
    StuartW
  • DTS
    DTS Registered Posts: 1
    Add me to the list please
    StuartW
  • ian_c
    ian_c Registered Posts: 2
    Yes please count me in!
    StuartW
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Here is the link to the fees survey - https://www.dropbox.com/sh/ynl8pb4xuub3hsz/AADpEkyP6XbxItDwwt_XGKwIa?dl=0

    Please download it and then complete the yellow shaded cells and send back to me via email to [email protected]

    Please remember to provide an anonymous ID in the first yellow cell so you can remain anonymous but find your own results.
    Regards,

    Burg
    StuartW
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Just so it is clear for all.

    The idea of the fees survey is to get an idea of what you do and what you would charge. So if you do not have any clients which fit into one of the fee points but can come up with a good estimate of what you would charge then please do. The more data we have the more useful to everyone. If you really are unsure then do leave it blank.
    Regards,

    Burg
  • stevo5678
    stevo5678 Registered Posts: 325
    Good shout Ian, I think this is very helpful for many of us on many levels. I'm in :)
  • Patricia
    Patricia Registered Posts: 3
    Good idea, please add me in.
  • Cristobalina
    Cristobalina Registered Posts: 8
    Please add me too, thank you.
  • charlenebb
    charlenebb Registered Posts: 40 Regular contributor ⭐ ? ⭐
    Yes great idea please add me in
  • SirLes
    SirLes Registered Posts: 2
    I'll participate!
  • Pete12
    Pete12 Registered Posts: 58 ? ? ?
    Please count me in!
  • LouiseRichardson
    LouiseRichardson Registered Posts: 9
    Please count me in.
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    edited April 2015
    Hi all,

    I plan on closing this survery at the end of April and putting the results together. If you want to be included and have not done so already then please can you complete and send the document to me at [email protected].

    Document is here - https://www.dropbox.com/sh/ynl8pb4xuub3hsz/AADpEkyP6XbxItDwwt_XGKwIa?dl=0

    Regards,
    Regards,

    Burg
    StuartW
  • AndrewG
    AndrewG MAAT, AAT Licensed Accountant Posts: 6
    Good idea. I'll certainly participate.
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Here is a link to the results summary http://bit.ly/1FnnJj9

    If you took part in the survey and have not received the full report please send me an email or private message and I can look into this for you.

    Thanks to everyone who took part
    Regards,

    Burg
    StuartWMarieNoelle
  • stevo5678
    stevo5678 Registered Posts: 325
    edited May 2015
    Thanks Ian very useful! I'm probably where I expected above average on here by a little. I'm not as cheap as I thought! Particularly with minimum fees from a simple SA to a very small Ltd. Certainly not as expensive as some though. Would be interesting to see how MIP's fees change based on where they are in the life of their practice. As you said Ian, you are now a 'proper' business, does that mean you now charge proper fees?! Thanks again. Steve
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    When we gain clients from other practices I sometimes use this as a benchmark to see where we are at. I find we are about right for most sole traders. As for Ltd Co's we are a little cheap still at the lower end and usually about right at the higher end. Overall we generally achieve the recovery rates we want so are happy but we will always continue to monitor them.
    Regards,

    Burg
  • Pete12
    Pete12 Registered Posts: 58 ? ? ?
    edited May 2015
    This is very interesting - thank you!
    I wonder if, in future surveys (or even better, this one as well - retrospectively), it would be possible to assign participants to geographic areas; intuitively, this is probably a significant factor to consider.
    MarieNoelleStuartW
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    It is something we are looking at Pete. Ideally though we would need to increase the number of participants somewhat.
    Regards,

    Burg
  • Jawz
    Jawz Registered Posts: 53 Regular contributor ⭐ ? ⭐
    edited May 2015
    Brilliant survey report Ian,well done and thank you! Sorry I missed the survey. Been offline for a bit but hopefully back for good now :)
    StuartW
  • Kimozaki
    Kimozaki Registered Posts: 10
    Have just come across this. Planning to become an MIP and have no idea what I should charge (I work in industry). Your results summary is a little gem - thank you!

    If you run it again next year then I'd be happy to contribute where I can :)
    StuartW
  • Londina
    Londina MAAT, AAT Licensed Accountant Posts: 814
    edited July 2015
    Definitely for VAT Cash accounting I would charge double the fee of a normal VAT return, since it takes longer to prepare!
  • star2305
    star2305 Registered Posts: 2
    Hi, I'm new to this forum. For some reason I can't open the link with the result. Can someone pls re-post it to me?
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