Professional fees: how much to charge?

gwenb

Hello,
I have recently been granted my License and now I am working on my fees. How much do people charge for a SAR? and for annual accounts for a sole trader? What works best: a fixed charge per job or an hour rate?
Thank you.

Bertie

It depends I'm afraid.

Simple ST bookkeeping, accounts and tax £500.

ST with the above and cloud invoicing software, starting at £600

ST with masses of invoices > £1000

Purely a SA, are you going to adjust accounts or take them at face value? If so have a STRONG letter of engagement in place.

Simple return starting at £250.

reader

Simple return (salary, dividends, interest, child benefit, student loan): From £75+VAT
Simple bookkeeping and tax return: From £150+VAT
Accounts (including balance sheet) and tax return: From £300+VAT

burg

Personally fixed prices work better than hourly rates. The above gives you a guide to the market. Don't cheapen yourself massivelt just to win work. Clients who you win on fees don't very often turn out to be the best clients in the long run. I've heard a saying that the 10% lowest fee payers take up 90% of your time. It's not quite this extreme but it gets the idea accross.

Bmer82

wouldnt surprise me Burg parento rule in action

gwenb

Thank you. I really appreciate all your comments. I drafted a table with different prices for sole traders and limited companies depending on the various services they need.
Early days for me. Still working on branding.