Accountant's fee to do ltd company's annual return and company accounts?

[lovingpickles]

Hi,

DH and I recently set up a limited company. I am doing all the accounts input in Sage. We have been quoted £800 + VAT by an accountant to do our company accounts and annual return. We are based in Hertfordshire. Is this fee reasonable?

Also, how complicated is it to do the annual return and accounts? Is it possible to do them ourselves - I have only very basic bookkeeping knowledge and DH has none. I am worried that the accountant's fee will be our entire year's profit!!

Thanks

That sounds rather a lot

email me on

rachel smith @ blueyonder . co . uk

my mum is an accountant and may be able to do it cheaper although we are in Midlands but cant see that being a problem

If that includes all of the following:

1. Statutory accounts in small companies format
2. Submission of abbreviated accounts to companies house
3. Completion and filing of annual return
4. Preparation of corporation tax computation and submission of tax return to HMRC

Then it is not a million miles out - a bit high if the guy is working from home, about right if he has an office to support.

If it doesn't include all of the above, bear in mind that 2 and 3 you can easily do yourself, but you can't do 2 without 1, and 1 and 4 are best done together by someone who knows what they are doing (ie an Accountant).

Also bear in mind that you won't need to file accounts or a tax return for about 18 months, so you could wait until you come across someone you want to work with through a business contact or on mumsnet before you make a decision.