0345 557 1287
Office Hours: 9am to 5.30pm
0345 557 1287
Office Hours: 9am to 5.30pm

Limited company accountancy fees hidden costs

Do you know what you get for your money?

We compared our fully inclusive accountancy service to some of our well known competitors to see if they offered the same value for money. We discovered that going with the company that has the lowest “headline” cost is nearly always false economy.

Do you know what you get for your money?

We compared our fully inclusive accountancy service to some of our well known competitors to see if they offered the same value for money. We discovered that going with the company that has the lowest “headline” cost is nearly always false economy.

There are plenty of contractor accountants out there who draw you in with low fees, but are you actually getting a proper service? Or are you then expected to pay additional fees? You may assume that you are getting everything you need to run your limited company and that everything has been taken care of – but beware:

Let’s compare

Accountant Service Our Best Competitor One Click Accountant
Dedicated account management YES YES
Unlimited support YES YES
VAT Registration and filing YES YES
Year end accounts YES YES
Corporation tax return filing YES YES
Real time software YES YES
Payroll for director YES YES
Additional payroll £9.50 per month Up to 3 employees
Annual return filing £13 per annum YES
Self assessment return for director £75 YES
Accountancy review £74 YES
Bookkeeping £22 per hour YES
Monthly fee £65 £80
Typical annual cost £1176 plus VAT £960 plus VAT

Click the below image to download the PDF and find out how we made the comparison

One Click Accountant How do we compare

A low monthly fee may sound attractive at first glance, and you may think that you are saving money. In most cases however, this headline fee is for the bare minimum service and in order to run your business effectively, you will need to pay more.

 
 

Why do we charge what we do?

It is our experience that when a contractor signs up to a bargain basement accountancy service, it’s only later down the line that they find out that things like tax returns, payroll for their spouse, annual return filing and so on, incur additional charges that they really can’t avoid. We would rather that all of our contractors know exactly how much they will pay for our services, happy in the knowledge that there will be no nasty surprises.

Breakdown of services

Dedicated account management

You will be provided with a single point of contact who will always be familiar with your affairs. You will not be passed around a call centre.

Unlimited support

You can contact your Account Manager at any time during working hours by telephone or email, for advice and assistance without needing to pay any additional charges for the time taken. Some accountants will charge for providing advice over the telephone and by email.

VAT Registration and filing

Your accountant will register your company for VAT (if required) and will help you complete your quarterly VAT returns. They will file the returns with HMRC on your behalf.

Year end accounts

Your accountant will compile your year end accounts and send them to you to review. Once they have been checked and signed off by you, they will be submitted to Companies House on your behalf.

Real time software

Some accountants will expect you to keep your records using spreadsheets. Real time software is normally cloud based and allows you to manage your invoices, expenses and payments in real time. Your accountant will also have access to this information to monitor your business and provide you with any assistance and guidance you may need.

Payroll for Director

You will need to register for PAYE to receive your income as a director of your Limited Company. Your accountant will do this for you and will help you to make sure you pay yourself the correct amounts. They will also complete RTI returns to HMRC.

Additional payroll

In many cases, it can be beneficial for a limited company to emplly an additional worker or workers. This can often be a spouse or partner. Some providers will charge extra for this service – One Click Accountant will provide payroll support for up to 3 employees as part of the all inclusive service.

Self Assessment return for director

As a director of a limited company, you will be required to complete a self-assessment tax return. Some accountancy providers will charge extra for this service (between £75 and £150 plus VAT).
One Click Accountant covers this in their all inclusive monthly fee.

Accountancy review

We know that sometimes the director of a limited company may make mistakes when providing information to their accountant. It is therefore important that their accountant checks all information provided to check for errors. These reviews are often only done at an additional cost however One Click Accountant will regularly review the information provided on an ongoing basis with no added cost.

Bookkeeping

Bookkeeping is essential for all limited companies and that is why we provide all of our clients with a fully secure, cloud based bookkeeping system. This system is provided at no additional cost and is included in the monthly fee.

More ways to discuss your thoughts

Tweet us your thoughts on Twitter! Or Contact Us today if you have any more questions.

 

Recent Tweets