Accountancy Fees

triggermortis

Just wondering how much I should be paying for accountancy fees. I run a ltd company with me as the sole employee.
I work via an agency with a set contract for hourly rate, there are no premises or car to pay for, just travel, accomodation, wage and expenses.
I have been quoted 2k for my audit and returns, does this sound reasonable? This doesn't include any payroll.

Any advice would be greatly appreciated

JoeTurner

When you say audit - do you actually mean accounts preparation and filing of annual return with CRO?

I'd imagine you wouldn't have an audit requirement in the circumstances you've described unless you were late with previous CRO returns? There would be a significant cost difference between audited and unaudited accounts...

BTH

triggermortis wrote: »

Just wondering how much I should be paying for accountancy fees. I run a ltd company with me as the sole employee.
I work via an agency with a set contract for hourly rate, there are no premises or car to pay for, just travel, accomodation, wage and expenses.
I have been quoted 2k for my audit and returns, does this sound reasonable? This doesn't include any payroll.

Any advice would be greatly appreciated

Presuming that the company would be audit exempt and given the very low level of expenditure this would seem very expensive. I could do it myself for half that!!

censuspro

triggermortis wrote: »

Just wondering how much I should be paying for accountancy fees. I run a ltd company with me as the sole employee.
I work via an agency with a set contract for hourly rate, there are no premises or car to pay for, just travel, accomodation, wage and expenses.
I have been quoted 2k for my audit and returns, does this sound reasonable? This doesn't include any payroll.

Any advice would be greatly appreciated

How much do you think is reasonable?

J.Ryan

As stated by an earlier poster a key factor is whether or not you have availed of the audit exemption.


An audit exempt set of accounts, Corporation Tax Return and filing of accounts with the CRO, would cost a lot less that an audited set of accounts, Corporation Tax Return and filing of accounts with the CRO.

Another factor would be the quality of the records kept (No offence intended to the original poster).

With a clearer picture on the above two points it would be hard to say for certain that it was an overhigh quote.

I would be happy to discuss this with you on a confidental basis, as I'm sure would any of the other respondents.

As a general rule of thumb if you can avail for the audit exemption, do so, it does make the year end accounts process less expensive.