The practice has no expensive office to finance and as such is able to operate without the need to be registered for Value Added Tax. Value Added Tax at 20% is charged on the turnover of Value Added Tax registered businesses from 4 January 2011.
As accountancy and taxation work is carried out on an actual time incurred basis no fixed fee can usually be agreed in advance. Charges depend upon the volume, completeness and accuracy of records provided, the quality of any bookkeeping and supporting schedules and the level of information that is provided to supplement the business or taxation records.
It is in the interest of clients to maintain efficient recording and filing procedures in order to minimise unnecessary charges incurred in sorting out records before assignments are commenced or making amendments to errors.
Although not directly linked to turnover the work necessary on the records of the higher turnover business will usually require greater time due to the number of accounting entries and the risk attached to the assignment.
Fees will normally be payable immediately upon presentation of invoice although standing order arrangements may be set up in advance to spread the cost of annual fees. Bartercard is now accepted as a method of payment in selected cases.
Full details of fee structures will be provided either at the initial client meeting or upon acceptance of client engagements. The following fee levels are an indication only of the level of fees which may be charged from 6 April 2013.
Basic Administration Charges - £25.00 per hour
Accounts charges - £30.00 per hour (£21.00 Sub-contracted work)
Tax Computations – Sole-Traders £50.00, Partnerships and Limited Companies £75.00
Tax Return – Sole-Trader £155.00, Partnership £180.00 (Individual Partners £130.00)
Basic Administration Charge - £25.00 per hour
Basic Accounts charges - £30.00 per hour (£21.00 Sub-contracted work)
Reconciliations and more detailed work - £75.00 per hour
Tax Computations - £75.00
CT600 Company Tax Returns filed online - £175.00 minimum
Filing Annual Returns - £65.00 plus filing fee
Tax Return - £175.00 MINIMUM plus £75.00 per hour after first hour.