# Costs of a ltd company (small)



## McClane (Dec 9, 2010)

Wondering if the DW collective can help me out a little.

I'm weighing up a few options of how to administer a ltd co (non detailing related).

I know my requirements with regard to registering, insurance, tax registration, account/book keeping - what I'm trying to weight up is the cost vs. Effort benefits of sorting this myself and having an accountant do the official stuff vs. Having a specialist service provider do much of it for me as a package.

What would you say is an average yearly figure for accountant and insurance bills etc.?

Situation is consultancy/contractor type business.


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## bigmc (Mar 22, 2010)

No more than £200 for an accountant to do your tax returns. Not sure about other costs.


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## vroomtshh (Nov 23, 2009)

I was paying £80 a month for an accountant to do my PAYE, year end etc.

I then bought a Sage package which basically does it all for me. I'd say I spend maybe 10 minutes a week keeping on top of it. And I generally do that during work hours anyway so its no extra for me really


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## hawkpie (May 22, 2006)

I have a local accountant doing mine. I get charged £30 per month and that covers all submissions to tax man for corporation tax and he also provides loads of advise on what I can/can't claim for etc.

And as I work from home too he also calculates what I can claim on rent of my home office, electricity and stuff and so saves loads.

I also get paid a set amount monthly which is something to do with tax and not paying NI and he also does payslips for me too. Then the rest I take as a dividend.

Worth getting an accountant for the first year to point you in the right direction


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## Guest (Jun 26, 2012)

I think I paid around £1000/year when I had mine. All I did was submit my own VAT returns, they did everything else including PAYE plus preparing and issuing the accounts to Companies House.


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## McClane (Dec 9, 2010)

This is great stuff chaps. About 1k is what I had in mind for an accountant based on south east location. 

Then trying to add to that registration, tax reg, vat reg, insurance(s), quarterly returns, paye, directors pay (dividends) etc and convenience of it all into the cost on offer.

:thumb:


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## allan1888 (Aug 29, 2009)

At the moment my accountant is charging me around £1500 per year to do my monthly CIS paye/nic and various returns I need. We do the vat and book keeping ourselves.


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## GJM (Jul 19, 2009)

bigmc said:


> No more than £200 for an accountant to do your tax returns. Not sure about other costs.


That's cheap for a year


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## The Cueball (Feb 8, 2007)

seems I am shocking overpriced going by the rates on here!! :lol:

just be careful with so called accountants mate, mate of the ones I come across are just little bullies that think they are smarter than the world...

my mate has had some shocking advice etc from his.... actually got so bad that I paid the guy a visit with my mate...

I would advise at least talking to 3 different ones... interview them and make sure they are decent people...

so many smart @sses and crooks out there...

guess that's why I can make a fortune and be run off my feet mind you... long may they continue!!! :lol:

:thumb:


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## Jack (May 14, 2007)

Prices will vary from accountants to accountants, but as Cueball said you need to make sure they are doing the job properly for you and not ripping you off. More well astablished accountants will charge more just becaue of their rep, not always doing a better job.

My last place (Accountancy firm with a turnover of 1m so relatively small) charge, £225 for a tax return, £250+ for a VAT return, £300 for company secretarial, £325 for company tax, £1000+ for preparation of accounts. Accountants will base their fees on how long it takes them to do the job, not necessarily on the size of the company. If you are a small ltd company with less than 10 employees you might be better getting a copy of sage instant accounts (£120 + VAT) and maintaining it yourself, then giving your accoutant a back up to prepare your accounts. If you keep it tidy they will spend less time preparing your accounts and should charge you less.

If you are going to keep the sage upto date yourself check if there are any grants available for training. The local councils here (Glasgow) were offering a grant which paid half the costs


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## McClane (Dec 9, 2010)

Thanks for your in depth advice fellas. I've heard of sage etc, as my mum's other half does exactly that, book keeping for small business'. He advised me of what I'd need to do if self administering (and that excel would suffice for just old me!) and to scope out some the pros and cons... cost vs reassurance/effort of the different approaches.

Certainly accountants advice on the full extent what I can fairly offset wIll be valuable... as I wouldn't want to let £££ slip away due to ignorance. Certainly in the first year!

The other option is the quote I have from my existing umbrella co. who also provide an administration service for ltd co (particularly valuable in my first year I reckon), where much of it is provided under one roof. Registrations, insurances, accountants, etc.

The rate is reflective of that but not unreasonable at all!!


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## NornIron (May 12, 2007)

vroomtshh said:


> I was paying £80 a month for an accountant to do my PAYE, year end etc.
> 
> I then bought a Sage package which basically does it all for me. I'd say I spend maybe 10 minutes a week keeping on top of it. And I generally do that during work hours anyway so its no extra for me really


Just out of interest, which Sage package is it... Sage Instant Accounts?


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## Beancounter (Aug 31, 2006)

The Cueball said:


> seems I am shocking overpriced going by the rates on here!! :lol:


Makes two of us :lol:


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## STEALTH K3 (Dec 29, 2006)

I pay £200 every quarter this does all my tax wages etc invoices, there is a one off payement at the end of the year that covers something but it's only minimal think its to get the reports for the tax sorted and sent off


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