How much do accountants charge?

If you’re managing a start-up or small business, you’ll likely be wondering exactly how much you can expect an accountant to charge. Well, there’s a lot of variation, and the exact figure may well vary depending on your company’s size and needs. But we’re here to help with some guidance in this handy article.

What accounting services will I need?

For a small business, which may be a single contractor all the way up to a limited company of 50 individuals or fewer, you could expect to consider an accounting package which delivers several important services. You’ll likely want to take a look at packages that cover things such as regular advice, your annual accounts, quarterly VAT returns if applicable, monthly and annual returns, corporation tax returns, legislation advice and, of course, your day-to-day bookkeeping.

While that seems overwhelming, an expert accountant can help you decide exactly what’s going to benefit your business the most. For Cheltenham business coaching, experienced providers such as https://www.randall-payne.co.uk/services/business-advisory/business-coaching/cheltenham can offer expert advice.

Why should I hire an accountant?

You’ll need an accountant to manage your company’s finances, deal with tricky HMRC paperwork like self-assessments or returns and ensure you’re fulfilling all your tax obligations. An accountant will help you record your business income and outgoings accurately, balancing your books and helping keep you on track throughout the year. Without an accountant, you’ll carry the burden of ensuring your company’s finances are carefully managed and your tax returns are completed on time and correctly, which can be both time-consuming and difficult to navigate alone.

What sort of figure can I expect?

This depends on your company size, but a general guide would be approximately £100 to £150 per month for a sole trader, £300 to £400 plus VAT for a start-up or from around £500 to £1,000 plus VAT for a larger company. Your turnover and how many employees you’ve hired can also have an impact on your general monthly accounting cost. You can also consider mixing and matching by making one-off and monthly payments for the different services you require.