We work on a fixed-fee basis generally. This means that the fee we agree with you is the fee that you pay. Fees include all-year round general support, as well as the year-end accounts and tax work. If significantly more work than expected is required, we will discuss this with you in advance.
When a new client contacts us, we will meet with you, or have a conference call with you, to understand your circumstances, and requirements, and provide you with an all-inclusive fee quote. We will then provide a written Service Proposal, to include a fee quote, for your review.
If you are happy to proceed, we then set out the agreed services and fee quote in our standard Engagement Letter (the contract between us). This ensures that you have a record of the services you require, and the agreed fee. Two copies are sent out by post, with one copy to be signed by you and returned to us. We will also take suitable identification at this point for regulatory purposes.
At this point, you are now a client of our practice, and will receive our full client service, regardless of whether your year-end accounts and tax work is due yet.
For current clients, the agreed fee will continue to apply until we discuss and agree a new fee with you. Clients therefore have peace of mind that they will only ever receive a bill for a fee that they have agreed to.
If your circumstances change significantly, we will discuss and agree any proposed fee change with you. We will fully explain any proposed fee change to you, and ask for your agreement to it.
Every few years, we may propose a modest inflation-related fee increase. Again, we will ask for your agreement to any fee change.
For personal tax clients, agreed annual fees are billed one-third on signing our Engagement Letter, with the balance billed after completion of the year-end accounts and/or tax-planning / tax return work.
For companies, agreed annual fees are billed one-third on signing our Engagement Letter, with the balance billed after completion of the year-end accounts and/or tax-planning / tax return work.
Bills are due for payment 14 days after issue. We do respectfully ask clients to pay bills on time as it is embarrassing for both parties if bills need to be chased.
Every client has different requirements, and so the following fee indications are for guidance only – all fee quotes are provided on an individual basis. However we would generally expect fees to be around the level indicated below for most clients.
It is important to appreciate that we expect all clients to provide us with reasonably good business records, to enable the accounts and/or tax work required to be professionally completed. We provide professional-standard templates and guidance documents to ensure that clients are able to keep good records of income and expenditure during the year.
For property investors that invest in their own personal name(s), a base fee is charged per Tax Return, plus a fee for each investment property held at year-end, as follows:
|Per Tax Return||£150 + VAT|
|Per investment property held at year-end||£80 + VAT|
Discounts are provided for investors with portfolios of 10+ units. Please note that multi-let / HMO property investors may pay slightly higher fees depending on the level of any additional work required.
Tax returns for individuals that are not property investors are set on an individual basis according the complexity of the individual’s affairs, and the quality of the information provided to us. Typically, for a simple tax return our fees would start from £195+VAT per Tax return. If Sole Trader accounts are required, these start from £175+VAT, in addition to the basic Tax Return.
We offer an all-inclusive service to manage all aspects of running your limited company, from initial set-up onwards. This includes annual statutory accounts in the legally prescribed format, for filing with Companies House and HMRC, CT600 Corporation Tax return work, advising on how to extract company profits tax-efficiently, as well as general day to day support. Fees start from £750+VAT for this service.
Clients may also request additional services, such as:
|VAT compliance||From £195+VAT per annum|
|PAYE scheme / payroll||From £22+VAT per month|
|Management accounts||From £100+VAT per month|
Fees include all-year round general support as well as the specific services provided above.