When you are going to hire an accountant in London, considering the charges is essential. After all, you need to pay the one who is going to manage all your legal, financial needs. Charges differ based on the professionalism, experience, services you require, and if you want the accountant to work with you full time or just assist the business.
However, having an idea beforehand is good. You can do so by considering different yet significant services accountants in London offer and are a need of most businesses.
Self-assessment Tax Returns
An accountant means an expert in tax. They make sure your tax returns are on-time and accurate. This way, there are no additional charges incurred. The cost of self-assessment tax returns differs from accountant to accountant and business to business. Following is a rough estimation:
Tax return cost for self-employed: £120 – £180
Tax return cost for small businesses: £200 – £300
Tax return cost for large businesses: £350 or more
General Tax Advisory
If you only want to get some general tax advice from accountants in London, the charges vary accordingly. You might need a one-time consultation, every month or annually. Usually, accountants charge the consultation fee per hour, estimating to roughly about £40.
When hiring an accountant in London permanently for your daily accountancy needs, the accountant will be looking after filing, tax returns, payrolls, legal, financial documentation, audit reports, and alike services.
The charges depend upon the services you require. With general service, a monthly fee of an accountant usually amounts between £70 and £150.
With this rough estimation, you might get a good idea of what accountants in London charge, depending on the nature of service they provide. To get a better idea, it is advised to contact different accountants in your area!