Accountant Fees

[JKForde]

Re: Accountant Fees for handling sold trader VAT and annual returns

Thanks mf, firstly for pointing out the repeated typo! (shouldn't write posts on the phone!) and for the advice. My accountant works from home, doesn't employ a secretary and doesn't have a whole lot of overheads (I've seen his office!)

I was just wondering if he is paying himself 70euros an hour plus VAT, would a VAT return, where he has all the information already and is using ROS, take 5 hours?

 

[mf1]

Re: Accountant Fees for handling sold trader VAT and annual returns

Thanks mf, firstly for pointing out the repeated typo! (shouldn't write posts on the phone!) and for the advice. My accountant works from home, doesn't employ a secretary and doesn't have a whole lot of overheads (I've seen his office!)

I was just wondering if he is paying himself 70euros an hour plus VAT, would a VAT return, where he has all the information already and is using ROS, take 5 hours?

I remember a client once working out for me that I should be paying myself X and if my overheads were Y that he felt my hourly rate should be B. The relationship was not a happy one. And did not last.

I don't think the fees you've been quoted are excessive. If you don't want to pay them go elsewhere . You could of course always do the VAT returns yourself!

mf

 

[Graham_07]

Re: Accountant Fees for handling sold trader VAT and annual returns

My accountant works from home, doesn't employ a secretary and doesn't have a whole lot of overheads (I've seen his office!)

Did you see
- His Professional indemnity insurance premium ?
- His Continuing Professional Development course fees ?
- His institute membership and practising certificate fees ?
- His software and related costs ?

I work from home, my wife acts as secretary, I still have considerable overheads.

As MF1 said, if you are unhappy with the fees, get alternative quotes. There are plenty other accountants out there.

 

[JKForde]

thanks, i appreciate the replies.. must look into getting that ROS certificate

 

[John Conlon]

High accounting fees

If foreign accountants were so impressed with fee rates in Ireland one would surely expect some to set up here. Super profits never last. this is an economic truism. There are almost no barriers to entry to accountancy. Any non-qualified person can call themselves an accountant. Therefore, if it was so massively extortionate everyone would be doing it.