Jump to content
hans antov

Average accountancy costs

Recommended Posts

Hi everyone,

 

I've just purchased my first BTL property through a LTD company. I am now looking for an accountant. I was wondering what the normal price range for an accountant is. I've been quoted £600 annually. 

Also, what questions would you advice me to ask them when looking at different accountants, any tips on how I can select the best one? 

 

Many thanks.

 

Hans

Share this post


Link to post
Share on other sites

Hi Hans

I am in almost exactly the same situation as you.

£600 to do accounts for a limited company seems fairly low. I have a non-property limited company and it is about £800 per year.

I suspect that this accountant might not be specifically experienced at handling property companies? From my investigations so far, accountants specialised at property charge over 1000 per year for their accounting service + tax advice. If you look at The Property Hub's own accounting service https://www.thepropertyhub.net/tax/ for example, in their FAQ, they state:
 

Quote

"As a rough guide, our monthly fees for individual property investors are £60 + VAT and for limited company investors £130 + VAT (which includes the service for the properties held individually as well). These fees are for up to 5 properties."


It would be good to hear what company you decide to go with!

Peter

Share this post


Link to post
Share on other sites

Hi @hans antov

Just looking through some of the older threads.  I agree with the above that £600 plus VAT for accounting costs in relation to a limited company is on the lower side of what I've seen.  Something closer to £800-900 plus VAT per year might by the normal sort of price for a small portfolio.

You might want to check what's included for the price you're being quoted.  For example, will the accountant prepare and submit your accounts to companies house for you, will they take care of the annual re-registration, will the prepare and submit a corporation tax return for you.

I'm not an accountant myself, but I am a qualified bookkeeper, so let me know if you want more information about the bookkeeping side.

Feel free to message me directly.

Best wishes

Rob

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×