personal accountancy fees in company accounts???

kdowling

I am director of a limited company and was wondering if it is possible to add my own personal accountancy fees to the companies accountancy fees and add as an expense?

barneystinson

No way José, if the company pays it, it's BIK...!

But then again, if you don't fire it all in and claim the whole lot, you'll probably be the exception rather than the rule...

nompere

If your accouintant does a fully itemised bill and either you or he (accountancy firms do get audited, as well!) is audited then you'll both upset Revenue. <lets not go there>

kennyb3

nompere wrote: »

If your accouintant does a fully itemised bill and either you or he (accountancy firms do get audited, as well!) is audited then you'll both upset Revenue. <original edited, but Kennyb3's advice was valid>...

You might get away with this but its not techincally allowed.

Any personal tax element should strictly be sent to directors loan (gross as the vat isnt allowed as a deduction by the company either).

flanh

Hello

I presently pay my accountant €3,600 vat inclusive to file accounts.

Its a Limited Company and there are no employees

I use an accounts package called BIG RED Book and enter all Invoices myself monthly.

I have been looking around and have already been quoted €2,000 + Vat for 2012

Can anyone comment on this ?

Two years ago I was paying €4500 + VAT until Ilooked around and got New accountant for €366 vat Inclusive

Your comments would be appreciated

Thanks flanh

paulpd

Even E2,000 plus VAT appears a little steep, assuming the accounts are audit exempt, and you have the bookkeeping in reasonable shape. I''d need to know turnover and level of activity to comment further though!