Are my accountants fees normal?

clairelitt, post: 11063 a écrit : I have been charged £880 for a year and 3 months. They prepared my income and expenditure account, did tax computations in order to submit my self assesment tax return. It works out at £700 a year - is that about right?

Bit steep if you are a sole trader, but all depends on the state of the books and records you gave to the accountant, and the amount of transactions.

clairelitt, post: 11063 a écrit : I have been charged £880 for a year and 3 months. They prepared my income and expenditure account, did tax computations in order to submit my self assesment tax return. It works out at £700 a year - is that about right?

I work for a big 4 accountancy firm and I know the amount of time it takes to do this work. I think £700 per year is not a bad price as long as the quality is good.

From what I can gather, a standard rate seems to be about £95 per month for a limited company, which would be just under £1,140 a year - and that's going to be more complicated I guess. So £700 sounds about right for a sole trader.

Having said that, depending on your business model it is possible to do your accounts yourself and then just get an accountant to do your tax return. I keep my own books and I do my own (flat rate) VAT returns and just pay my accountant a one-off fee every Summer to do my tax return - works a treat! But as I said, it's all down to how complicated your business model is . . .