Fees for property accountant

[joewiggins]

Hi All,

I have been quoted £77+VAT a month for a property accountant for the accounting of my SPV, which will hold 1 buy-to-let property (for two years). My first question, is this a good rate?

My second question is, is this value for money as I will only have one property? Or would I be best served paying a property accountant once at the end of the financial year to complete the relevant company tax documents?

Thanks in advance,

Joe

[taxantics]

I don’t see any value in monthly fees for a single property business unless you’re getting ongoing services such as bookkeeping or cloud accounting software. You should easily get these services for less than £1k per annum depending on the amount of advice and support you need. 

[pipsiniws]

If you want to do it on your own, you should at least get an internship in this field. I do not know if it is possible to do this without education, but I personally have it. For practice, I specifically applied to the service https://vertisaccounting.co.uk/, which helped me to get settled in the future. To answer your first question: yes, this is a good bet in my opinion. At the end of the year, it is not worth paying; it is worth paying by month, so you can immediately take into account monthly expenses to rearrange the one-time investment expense once a year (fiscal year). You will always have time to fill out the relevant tax documents of the company, and you will have to do it every month. Still, the calculation will actually be much more convenient.

[EvolutionBlogger]

On 7/24/2020 at 1:15 PM, joewiggins said:

Hi All,

I have been quoted £77+VAT a month for a property accountant for the accounting of my SPV, which will hold 1 buy-to-let property (for two years). My first question, is this a good rate?

My second question is, is this value for money as I will only have one property? Or would I be best served paying a property accountant once at the end of the financial year to complete the relevant company tax documents?

Thanks in advance,

Joe

I think the fee seems reasonable. The more important question, is whether this accountant is any good

My accountant costs more than that. but he's paid for himself many times over 

If you really like this guy, I would go with him