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Accountant for Sole Trader

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  • 01-09-2015 10:59am
    #1
    CinSoots
    Registered Users Posts: 216 ✭✭


    How much would you think it would cost me to get my accounts prepared and subimtted by an accountant? I have received a quote and I'm just wondering how it sounds - approx 800 + VAT?

    I'm not VAT registered, (this will probably change next year). I use an accounts package so I have already entered all the information into it and exported a P&L and trading statement. Obviously he has to go through it and make sure I have it all done correctly. I have to suppply credit card and bank statements to check them against the report I ran.

    What do you think, is this price fair? Initially I thought it was a little high as I have a lot of the groundwork done myself but is it?

    Thanks for your help.


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    #2
    Synode
    Closed Accounts Posts: 7,967 ✭✭✭Synode


    If you're confident enough that you've done it correctly, you don't need an accountant at all.

    If not, then €800 + VAT to prepare a straightforward set of accounts (I'm assuming yours are such) sounds quite good.


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    #3
    Immy
    Registered Users Posts: 260 ✭✭Immy


    I don't think it's too outragous, I usually charge between €400-600 to a sole trader not VAT reg with no employees


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    #4
    AndersLimpar
    Banned (with Prison Access) Posts: 203 ✭✭AndersLimpar


    Synode wrote: »
    If you're confident enough that you've done it correctly, you don't need an accountant at all.

    If not, then €800 + VAT to prepare a straightforward set of accounts (I'm assuming yours are such) sounds quite good.
    That's what I was hoping to hear!
    I wouldn't be confident enough to be honest, not this year anyway so I need the accountant!
    Thanks for your input.


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    #5
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    It's a tad expensive IF you've prepared your accounts correctly. Big if though in my experience or that of most of the accountants reading this...

    What about the tax return, that's the end game here really, are you confident you'll be able to make the necessary adjustments to calculate taxable profit, wear & tear allowances etc.. and complete a Form 11??


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    #6
    Synode
    Closed Accounts Posts: 7,967 ✭✭✭Synode


    barneystinson wrote: »
    It's a tad expensive IF you've prepared your accounts correctly. Big if though in my experience or that of most of the accountants reading this...

    What about the tax return, that's the end game here really, are you confident you'll be able to make the necessary adjustments to calculate taxable profit, wear & tear allowances etc.. and complete a Form 11??

    I'd expect a tax return to be included in the price. But like you said, it all depends on the quality of the work done by the op.


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