What's the going rate for accountants fees these days

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We're currently paying just over €3k per year for monthly payroll for 4 staff, VAT, year end accounts, corporation tax, and my husband's and my tax return.

I've seen an accountant advertising for €60 per month plus VAT for a limited company! I know things have changed in recent years with ros and cloud accounting but is €60 pm the norm or am I overpaying?

Vicente Easy Significant

Vicente Easy Significant wrote: »

We're currently paying just over €3k per year for monthly payroll for 4 staff, VAT, year end accounts, corporation tax, and my husband's and my tax return.

I've seen an accountant advertising for €60 per month plus VAT for a limited company! I know things have changed in recent years with ros and cloud accounting but is €60 pm the norm or am I overpaying?

I’d like to know who your accountant is, I’m paying a lot more for similar service.

eusap

We're currently paying just €2k (plus vat) per year for monthly payroll for 2 staff, VAT, year end accounts, corporation tax, and 2 tax returns (Midlands area)

J.Ryan

Vicente Easy Significant wrote: »

We're currently paying just over €3k per year for monthly payroll for 4 staff, VAT, year end accounts, corporation tax, and my husband's and my tax return.

I've seen an accountant advertising for €60 per month plus VAT for a limited company! I know things have changed in recent years with ros and cloud accounting but is €60 pm the norm or am I overpaying?

That might just be for the VAT and maybe Payroll.


If you want to send me a PM, I'm happy to talk in more detail

Immy

I can’t imagine any accountant is going to do very much for €60 a month. Certainly not all the things you’ve listed.

From what you say I think you’re getting a good deal

What I would consider is are you happy with your service

Stratvs

Vicente Easy Significant wrote: »

We're currently paying just over €3k per year for monthly payroll for 4 staff, VAT, year end accounts, corporation tax, and my husband's and my tax return.

I've seen an accountant advertising for €60 per month plus VAT for a limited company! I know things have changed in recent years with ros and cloud accounting but is €60 pm the norm or am I overpaying?

You will not get a professionally regulated & insured accountant to do all of the items in your first paragraph for €60pm. If you are getting all of that for €3kpa I would consider that reasonable.

If you are happy with the relationship but want to lower cost why not ask them is there anything you can do to cut down on work they have to do and perhaps make some savings that way. E.g. Payroll is not difficult and software can be had for c. €150pa. What are they charging you for that element of the work and is it something you’d take on directly.

Immy

Immy wrote: »

I can’t imagine any accountant is going to do very much for €60 a month. Certainly not all the things you’ve listed.

From what you say I think you’re getting a good deal

What I would consider is are you happy with your service

Stratvs wrote: »

You will not get a professionally regulated & insured accountant to do all of the items in your first paragraph for €60pm. If you are getting all of that for €3kpa I would consider that reasonable.

If you are happy with the relationship but want to lower cost why not ask them is there anything you can do to cut down on work they have to do and perhaps make some savings that way. E.g. Payroll is not difficult and software can be had for c. €150pa. What are they charging you for that element of the work and is it something you’d take on directly.

Believe it or not, there is a chartered firm that was advertising €60pm for the first year for an ltd incl CT, B1, statutory and abridged accounts etc. They've taken that particular price down and I won't mention any names but they are doing alot of online marketing and SEO. They appear to a relatively new firm i.e. 2 - 3 years and it looks like modus operandi is to compete on price, get as many clients as possible and then bump up the fees in years 2 and 3. Many clients will leave but most will probably stay.

This has been standard procedure in the UK for several years now with many firms being referred to as "compliance shops" where you get the basic compliance service for a fixed fee but if you have any VAT, Sheriff queries or anything outside the scope of your service then they charge extra.