How much should I be looking to pay an accountant?

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Hello

I'm setting up a Limited Company with myself as the sole director. I think that I need an accountant to do all of the financials - does anyone know approx how much I should be looking to pay someone for this? It would be very very simple stuff - basic tax, NI etc. No employees or anything particularly complicated.

I'm in SW London.

Thanks

You mean for you or the company? And by financials do you mean just tax or the companies house stuff too.

£600 at an absolute minimum.
Depending on level of transactions and involvement I would be looking at £1250+Vat (min).
Will you be VAT registered - and if so do you want the accountant to deal with that? (I'd probably charge £200+Vat (min) a quarter).

For the company. And just tax/accounts - I'm a qualified solicitor so intend to do the legal/CH side of things myself.

I won't be VAT registered no.

Ok - so from £50+ (prob more) a month.

Thanks.

Ok- in which case what squirrels says sounds about right

Out of interest why are you setting up as a company? Aren't there law society issues on doing this ? Also I know there is a tax advantage in doing it but there is a whole lot of avoidance law you need to sort out if you have got a personal company.

Just checked (briefly) and you can set up as a company - also if only paying yourself (ie using company for legal personality reasons), the avoidance stuff less of an issue.

I'm not going to be working as a solicitor (have just left fee-earning work) - just my background so I feel confident filling out all the forms etc and would feel like a waste of money paying someone else to do them. Thanks for the caution though.

I pay £500 per annum for partnership accounts and 2 self assessments. Do my own VAT

Make sure you talk to a few so you get an idea of how they are going to help your business. In SW London you have a choice of medium sized regional firms like Menzies, local firms with half a dozen partners in a single office in Richmond/Kingston/Wimbledon, members of a national franchise (TaxAssist), sole practitioners like me and finally, don't discount online services such as cheapaccounting.co.uk and myaccountantonline.co.uk.

Of these, only the firms with smart offices are likely to quote more than £600 (plus VAT). I would be happy to give you an idea of some of the questions you should be asked by anyone who is going to give you a decent service if you contact me privately.

Nice sales job Anchovy. Impressed.
And yes, I quite agree about the posh office / work from home specialist split

do you have any accountancy contacts from your work as a solicitor?

we often find that the best way forward and find that work we need by a solicitor we refer back

I pay £500-600 a year for accounts; and will pay an additional £500 or so a year for handling the VAT. As a self-employed person I paid £200.