How much does it cost to hire an accountant?

Have you ever wondered "how much does it cost to hire an accountant?"

 

The cost of hiring an accountant will always vary from business to business. There are several ways to establish a rough price of how much an accountant will cost:

  • Decide what services you actually need e.g. Bookkeeping, VAT returns, Payroll, End of Year Accounts

  • Bear in mind your current level of revenue (a lot of accountants- including us- will charge less if you have a lower turnover)

  • Have a think about how much of the work you're actually going to do yourself- the more you do, the less there is for us to do.

  • If you're going to do some of the work yourself, then make sure that it's done right. Follow HMRC's guidance wherever applicable and watch/ read through any tutorials availalbe from your accountancy software provider e.g. Xero

  • Download our fee estimator- it isn't an exact science and it definitely isn't a quote, but it'll give you a rough idea of what charges to expect if you're a limited company (if you're looking to register a new limited company, then click here to be taken to our quick guide)

The general principle behind how much accountants charge will always depend on:

  1. How busy you are

  2. What services you need

  3. What state your accounts are in

  4. How much of the work you're going to do (correctly) yourself

Once you've got a rough idea of exactly what it is that you want doing, download our fee estimator spreadsheet and enter figures into the relevant boxes. The background wizardry will then calculate a rough monthly fee.

You'll know what an accountant charges without even having to pick up the phone.

You will need Microsoft Excel to use the calculator.

 

If you don't have Microsoft Excel on your machine, visit https://www.office.com/launch/excel to use the free online version of Microsoft Excel (you will need to set up a Microsoft account, login, and then upload the file into the resulting space and then you should be able to open it).

You will simply need to fill in the "Requirement" and "Additional Options" columns in the sheet. It will then calculate a Total Monthly Fee in the bottom right.

 

Please note that this amount is an estimate, and you should Book a Consultation to request an audit of your books and confirm this quote.