Fixed accountancy fees

Written by Ray Coman

Coman & Co provides a fixed fee service, which is agreed in advance.  The scope of work is established in a free, initial consultation.  A written estimate is agreed to prior to becoming a client.  Our fees are based on time spent and level of skill used.  We provide a service which is tailored to the needs of our client and we can accommodate a range of tax work.  Nonetheless, we aim to be transparent and fair in our billing. Therefore, we have published our fees the price list below.

Fees are subject to VAT.  Invoices are issued in arrears after completion of the accounts, Tax Return or other, tax related, assignment.

 

Included in the all prices below:

Preparation of accounts of Tax Return, VAT Return or payroll, as applicable.
Acting as your agent for the purpose of communicating with HMRC.
Providing updates in the tax regulation that are relevant to you.
Sending reminders about documents that are due, what tax to pay and when.
Dealing with routine HMRC correspondence on your behalf.
Responding to brief email queries regarding UK taxation and how it can be reduced.

Two free of charge adjustments to your Tax Return once it has been prepared. Subsequent adjustments are subject to a fee of £85.

Our clients are not committed to using our service, until providing information required to prepare accounts, Returns or other tax document.

Landlord Tax Return prices

Service Yearly fee (£)
Rental income only up to two properties 150 Add
Rental income and employment or pension earnings 250 Add
Rental income and sole trader profits up to the VAT threshold 250 Add
Rental income and sole trader profits above the VAT threshold 300 Add
Rental income, sole trader and employment or pension earnings 300 Add
Rental income and employment or sole trader earnings for a married couple @ £200 per Tax Return 400 Add
Rental income, employment (or sole trader) income and capital gains on disposal of property* 400 Add
Rental income, employment (or sole trader) income and capital gains on disposal of property, where principal private residence relief* 450 Add
Rental income only for a non-resident landlord 200 Add
Let property campaign disclosure for one year 150 Add
Per additional year 75 Add
Accountant's reference in support of a mortgage application or rental agreement 25 to 125 Add

*The fee is invoiced in two amounts: £150 on completion of the Capital Gains Tax Return and the remainder on completion of the Tax Return.

Sole trader Tax Return prices

Service Yearly fee (£)
Self-employment income less than £30,000 turnover/start up 150 Add
Self-employment income (with a turnover up to the VAT registration threshold) 200 Add
Self-employment income (above the VAT registration threshold) 250 Add
Employment or pension earnings and some consultancy income 250 Add
Optional extra: 
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add

High earning employee, investor and pensioner Tax Return prices

Service Yearly fee (£)
Employment or pension earnings, any benefits and tax deductible expenses 100 Add
Employment or pension earnings plus foreign income 125 to 300 Add
Employment or pension earnings plus investment income 125 to 350 Add
Employment or pension earnings and capital gains on shares and other investments 125 to 250 Add
Employment or pension earnings and consultancy income 200 Add
Employment or pension earnings and trust income 170 to 300 Add
Foreign, trust or investment income only 125 to 350 Add

Contractor company fixed fee prices

We provide a facility to manage all accounting and tax compliance requirements of a limited company contractor. However, an itemisation of fee also follows to allow for a more cost effective alternative.

Service Yearly fee (£)
Preparation of Filleted Accounts, Full Accounts, Company Tax Return and corporation tax calculation for electronic filing with HMRC and Companies House 485 Add
Preparation of Tax Return to include salary and dividends from the company and calculation of any tax thereon per director* 85 Add
Monthly payroll for one director up to the national insurance earnings threshold @ £7.50 per month** 90 Add
Optional extra: 
Annual registered office facility 50 Add
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add

*The charge could be higher where additional Tax Return entries are required, for instance for landlords

**Where there is more than one director, or the company has staff, please refer to the payroll section for additional charges. Some clients prefer to avail our service for providing a registered office. Since most correspondence is now conducted online, the registered office facility is for the purpose of excluding the business or home address from the public register.

Small business accounting prices

Small businesses tend to have more complex accounting requirements than contractors. This is due to accounting for stock, assets, debtors, creditors and lease or other premises arrangements. Our fees are the same as for contractors, except for the company accounts preparation which would be as follows:

Service Yearly fee (£)
Preparation and filing of annual confirmation statement 35 Add
Preparation of Filleted Accounts, Full Accounts, Company Tax Return - Turnover below VAT registration threshold 485 Add
Preparation of Filleted Accounts, Full Accounts, Company Tax Return - Turnover between VAT registration threshold and £250,000 600 Add
Preparation of Filleted Accounts, Full Accounts, Company Tax Return - Turnover above £250,000 On request Add
Optional extra: 
Annual registered office facility 50 Add
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add

Limited Liability Partnership prices

Service Yearly fee (£)
Preparation of Filleted Accounts, Full Accounts and partnership Tax Return for electronic filing with HMRC and Companies House 485 Add
Preparation and filing of annual confirmation statement 35 Add
Preparation of Tax Return to include partnership profit share from the LLP and calculation of any tax thereon: per partner 125 Add
Optional extra: 
Annual registered office facility 50 Add
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add

Inside IR35 contractor fixed fee prices

A contractor who is deemed to be employed will need to run the company inside IR35

Service Yearly fee (£)
Preparation of company accounts inside IR35 125 Add
Preparation of company Tax Return and calculation of corporation tax inside IR35 110 Add
Preparation and filing of annual confirmation statement 35 Add
Preparation of Tax Return to include IR35 employment earnings from the company and calculation of any tax thereon 50 Add
Preparation of monthly IR35 payroll @ £45 per month 555 Add
Optional extra: 
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add
Annual registered office facility 50 Add

Unincorporated partnership prices

The fee is inidcative subject to any additional work bringing accounting material to trial balance

Service Yearly fee (£)
Preparation of partnership Tax Return 150 Add
Partnership accounts (not obligatory and only if requested by client) 75 Add
Preparation of Tax Return to include partnership profit partnership share and calculation of any tax thereon: per partner 150 Add
Optional extra: 
Annual QuickBooks accounts software available to our clients at wholesale price 72 Add
Bookkeeping up to 100 bank transactions a quarter 120 Add
Preparation of VAT Return and calculation of VAT thereon (four VAT Returns a year) 80 Add

Company formation and company secretarial prices

Service Yearly fee (£)
Preparation of application for strike off of the company 50 Add
Preparation of application to register a company, and online submission to Companies House 50 Add
Corporation tax registration with HMRC and appointment of Coman & Co as tax agent 20 Add
Preparation of application to register the company for VAT (and if required flat rate scheme) 75 Add
Preparation of dormant company accounts, e.g. for freehold management company 75 Add

Payroll service rate card

Payroll is not offered as a stand-alone service. It is only part and parcel of services we offer to business clients.

Payroll service includes:

  • Registration as an employer with HMRC and set up of payroll, for which there is no extra charge;
  • Processing of HMRC notices: Late payment or late filing, student loan and tax code notifications;
  • Emailing of year-end P60 in March,and
  • Except for sole director companies:
    • Processing of monthly Real Time Information report to HMRC of pay, tax and other deductions;
    • Emailed payslips;
    • Advice on liability to HMRC for PAYE tax, NIC and student loan and date payable;
    • Email report showing gross pay, deductions, pension and cost to the employer;If applicable, report of pension contributions payable.

The following aspects of payroll are excluded:

  • Submission of a BACS report to HMRC;
  • Filing of pension payment to the provider. We can instruct on employer and employee amounts for input by the client;
  • Monthly payslips for directors paid up to the NIC threshold. This is to minimise paperwork. However, this service is optional as explained below;

Coman & Co does not accommodate a weekly payroll facility, only monthly.

Additional fees, usually for one-off work

Service Yearly fee (£)
Fixed charge for operating a payroll or Construction Industry Scheme (see below for what is included and excluded.) 5 Add
One director paid up to the employer's national insurance threshold 2.5 Add
Per additional director (such as spouse) paid up to the employer's national insurance threshold 2.5 Add
Per employee, or per director paid above national insurance threshold 5 Add
Per any employee requiring additional workplace pension contribution calculation 2.5 Add
Per subcontractor, processing and filing of CIS report with HMRC showing pay and tax deductions 5 Add
Paternity pay claim 50 Add
Maternity pay claim 100 Add
CIS refund claim* 50 Add
Starter: Processing a new starter form (in addition to month one pay) 5 Add
Leaver: Processing of P45 (in addition to final pay.) 5 Add
Additional monthly payslip, though not required but nonetheless requested by director 2.5 Add
Verification of subcontractor starters 5 Add

*A CIS reclaim would be required for limited company clients who have not obtained gross payment status.Payroll is invoiced yearly in March or on cessation of the scheme, whichever is the sooner.

Tax service prices list

The table below includes a list of fees related to various tax services.

Service Yearly fee (£)
Calculation of available annual pension allowance for one tax year 150 Add
Claim for overpayment relief in statutory form to include one tax year 200 Add
Per tax year filing of a disclosure of previously unreported income 50 to 135 Add
Amendment to aspect of a Tax Return already filed 50 to 135 Add
Let property campaign, worldwide disclosure facility or disguised remuneration, per tax year 50 to 85 Add
Typical HMRC enquiry* 75 to 300 Add
Complex HMRC enquiry, as an approximate only 850 Add
Preparation of Financial statement, and accountant's certificate for the UK Border Agency, or mortgage lender proposes 225 Add
Accountant's reference in support of a mortgage application or rental agreement 25 to 125 Add

*Coman & Co do not offer or resell tax investigation insurance. We can refer clients to financial advisers, insolvency practitioners and solicitors where the client request falls outside of our remit.

Tax advice hourly rate

Raphael Coman is a Chartered Accountant and Chartered Tax Adviser.  He has worked independently since 2009 and written extensively on UK tax.  The charge out rate for personal tax advisory work is £105 per hour. This includes assistance with an HMRC tax enquiry.  Letter of tax advice regarding, for instance:

  • A proposed property transaction
  • divorce or separation
  • Share restructuring for a small business
  • Company acquisition and disposal
  • Trust and inheritance tax arrangements.
  • HMRC tax investigation

The scope of tax advice is agreed in advance.  Unlike other tax services; tax advice is paid in advance.  A concession on a subsequent Tax Return can be negotiated where related to the tax advice.  Fees related to HMRC enquiries are below.

Service Yearly fee (£)
Excluding free, initial meeting. Book the proprietor, Ray Coman for tax advice on an HMRC tax investigation, Trust arrangement, family, domicile or other complex tax issue. One hour of exclusive usage* 105 Add
Additional hour of usage* 105 Add

*As an exception, fees for written advice from an experienced Chartered Tax Adviser are payable in advance. Most typical kinds are tax advice are incorporated into the annual compliance fee and do not require a separate advice engagement.

Fees estimates for UK tax work that is not listed above: Available on request.

 

Simple situations. Complex situations. If it goes on a Tax Return we deal with it. Contact us for a free, initial meeting.

Call us!