Accountancy fees for Limited Company’s
Accountants deal with a number of businesses in all types of sectors. They deal with preparation and submission of self assessments, bookkeeping, tax advice and tax planning, tax returns, CIS Tax, and company formations.
Accountant fees for Limited Companies are listed below:
•Sole trader accounts and tax returns range from– £250 to £350*
•Limited companies accounts and tax returns – £650 to £850*
•Payroll per employee – £100- £120
*Prices are dependent on the size and scale of the work.
Gm professional accountants have self employed packages from £20 a month, small business accounting services from £60 a month this is an exclusive offer for 2019 and with limited numbers, contact us today on 0208 396 6128.Get a Quote Now
• The costs of trading as a limited company are larger than if you were a sole trader. Though there are significant benefits, mostly the saving of Class 4 National Insurance; and also the limited liability.
• The main accounting fees for Limited Companies will be accounts for the Year End, which then are filed at Companies house and returned to HMRC.
• Services of an accountant is highly advisable for a Limited Company. This is because the preparation of Year End Accounts is a legal requirement and requires specialist accounting knowledge.
• You will be probably paying yourself a salary as a director, if you trade as a Limited Company. This will require registering a PAYE scheme and administer a Payroll.
• Dividends can be paid if you are making profit, which you probably are paying yourself. You will also need to register for Self Assessment to pay yourself dividends.
• Small limited companies are not legally required for an auditor.
Small Businesses / Self Assessment
• Sole traders are permitted to prepare and file their own accounts and tax returns.
• Tax Returns (Self Assessments) can be done online but a small business may need a specialist online filing system.
• Accountants’ services will include tax advice, consultancy and general help with business issues which new businesses can benefit from.
• Accountants offer a bookkeeping service, which many of them do. Keeping good records of your business will be able to save the cost of this extra help, as it saves the accountants’ time from filing.
• As a busy business owner you may well conclude that it is a better use of time to concentrate on developing and growing your business, rather than spending hours doing your accounts and bookkeeping, and therefore you appoint a bookkeeper.
• Bookkeeping fees are considerably much cheaper than accounting costs. You are more likely to save money if you combine the whole accounting costs together. Make sure all the roles are clear, so they know what they are doing.
• Online filing is now compulsory, so your accounts and tax returns can be filed online. Small business may require using specialist online system.
• Accounting and bookkeeping software, like Sage, will help a business owner complete the records before hand, which can reduce the accountant’s year end fees. The added advantage is that your records are updated, business reports will be ready to hand in and your accounts can be done quickly.
Limited Company Accountancy Fees
What do Accountants do?
• Most businesses accounts are legally required to be presented and prepared on an accruals basis. Adjustments are likely will need to made to the accounts to bring them to the legal standard, this does include sole traders.
• Accountants are also often tax advisors and are likely to be able to give you advice on tax strategy and potential tax savings.
• Accountants have many contacts and clients in various trades and professions. Therefore they are able to guide you to additional business services, like business planning, which may require additional service.