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Can anyone tell me if this is a good quote?

  • 12-07-2012 4:59pm
    #1
    AvonEnniskerry
    Registered Users, Registered Users 2 Posts: 354 ✭✭


    We have a small business and want to try and keep everything above board. Have been to see an accountant and he has given us the following quote...

    The quote for the company is as follows –

    · Accounts in Statutory format
    · Audit – not required
    · Minutes
    · Company office returns & accounts
    · Corporation Tax return
    · Payroll – not required

    For a fee of €500. Is this a good qoute and if so what exactly is he saying he is including for that price...?


Comments

  • #2
    J.Ryan
    Registered Users, Registered Users 2 Posts: 474 ✭✭J.Ryan


    Its cheap, very cheap, almost too cheap has the company traded at all?


  • #3
    smeharg
    Registered Users, Registered Users 2 Posts: 300 ✭✭smeharg


    J.Ryan wrote: »
    Its cheap, very cheap, almost too cheap has the company traded at all?

    It certainly had me worried :eek:

    It looks more like a quotation for a sole-trader.

    I do note that there is no mention of directors income tax returns.


  • #4
    AvonEnniskerry
    Registered Users, Registered Users 2 Posts: 354 ✭✭AvonEnniskerry


    thank you, the company is trading, just things are quiet as an electrical company.

    Directors tax return.s we both have personal ones to file anyway so this is an extra hundred a year that we pay personally. ie not through the business...

    Whats the usual price for companys?
    And I know I should know this but what exactly is he including in the price? ie is it only the yearly return or is it vat payments and vat returns evrey 2 months as well


  • #5
    Citizen2011
    Registered Users, Registered Users 2 Posts: 105 ✭✭Citizen2011


    Yes it's a very good quote. I doubt the bi-monthly VAT returns are included for that and you said there's no payroll tax so I assume you're not taking a salary out of the company. But if it's registered for payroll taxes you'll still need to return a nil P35 at year end.


  • #6
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    Presumably if the person is a qualified accountant and he knows what he is doing it is a very good quote. However it would probably be the "Ryan Air" approach in that only the accounts will be produced. No bookkeeping, payroll, VAT returns etc. You will be doing most of the work or the fee will increase.

    Make sure that you get a proper note of what he expects you to do for this quote and what he will provide for you in return in order to avoid future conflict down the line.

    Regards

    dbran


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  • #7
    AvonEnniskerry
    Registered Users, Registered Users 2 Posts: 354 ✭✭AvonEnniskerry


    Yes he is a qualified accountant and has been the family accountant for years. I would not doubt his service but I do think dbran has a valid point about getting the list off him so that there is no confusion in future...
    Make sure that you get a proper note of what he expects you to do for this quote and what he will provide for you in return in order to avoid future conflict down the line.

    Also we are not registered for payroll and have not been taking salaries.. This may be something we do in future but for the time being we are allowing any earnings to be invested back into the business...


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