Pricing

Published: 28 Oct 2016

Updated: 29 Aug 2019

 

Written by Ray Coman

 

Coman & Co provides a fixed fee service, which is agreed in advance.  The scope of work is established in a free, initial consultation.  A written estimate is agreed to prior to becoming a client.  Our fees are based on time spent and level of skill used.  We provide a service which is tailored to the needs of our client and we can accommodate a range of tax work.  Nonetheless, we aim to be transparent and fair in our billing. Therefore, we have published our fees the price list below.

 

Fees are subject to VAT.  Invoices are issued in arrears after completion of the accounts, Tax Return or other, tax related, assignment.

 

Landlords

Sole traders

High earnings employees and investors

Contractors

Small business

Limited Liability Partnership

Unincorporated partnerships

Company formation and strike off

Payroll

Bookkeeping and VAT

Tax advisory

Miscellaneous

 

Tax Return preparation

 

Our yearly tax service, includes:

    • Acting as your agent for the purpose of communicating with HMRC.
    • Providing updates in the tax regulation that are relevant to you.
    • Sending reminders about documents that are due, what tax to pay and when.
    • Dealing with routine HMRC correspondence on your behalf.
    • Responding to brief email queries regarding UK taxation and how it can be reduced.
    • Preparing and filing your Tax Return for you.
    • Two free of charge adjustments to your Tax Return once it has been prepared.  Subsequent adjustments are subject to a fee of £85.

 

Fees are invoiced once yearly after the Tax Return has been prepared.

 

Landlords

 

Service Yearly fee (£)
Rental income only up to two properties 150
Rental income and employment or pension earnings 250
Rental income and sole trader profits up to the VAT threshold 250
Rental income and sole trader profits above the VAT threshold 300
Rental income, sole trader and employment or pension earnings 300
Rental income and employment or sole trader earnings for a married couple @ £200 per Tax Return 400
Rental income, employment (or sole trader) income and capital gains on disposal of property 300
Rental income, employment (or sole trader) income and capital gains on disposal of property, where principal private residence relief 350
Rental income ony for a non-resident landlord 200
Let property campaign dislosure for one year 150
Per additional year 75
Accountant's reference in support of a mortgage application or rental agreement 25 to 125

 

Sole traders

 

Service Yearly fee (£)
Self-employment income (with a turnover up to the VAT registration threshold) 200
Self-employment income (above the VAT registration threshold) 250
Employment or pension earnings and some consultancy income 250

 

High earning employees, pensioners and Investors

 

Service Yearly fee (£)
Employment or pension earnings, any benefits and tax deductible expenses 100
Employment or pension earnings plus foreign income 125 to 300
Employment or pension earnings plus investment income 125 to 350
Employment or pension earnings and capital gains on shares and other investments 125 to 250
Employment or pension earnings and consultancy income 200
Employment or pension earnings and trust income 170 to 300
Foreign, trust or investment income only 125 to 350

 

 
Contractors

 

We provide a facility to manage all accounting and tax compliance requirements of a limited company contractor. However, an itemisation of fee also follows to allow for a more cost effective alternative.

 

Service Yearly fee (£)
Preparation of Filleted Accounts, Full Accounts, Company Tax Return and corporation tax calculation for electronic filing with HMRC and Companies House 485
Optional extras:  
Preparation and filing of annual confirmation statement 35
Preparation of Tax Return to include salary and dividends from the company and calculation of any tax thereon per director* 85
Monthly payroll for one director up to the national insurance earnings threshold @ £7.50 per month** 90
Total 695
VAT @ 20% 139
Companies House filing fee 13
Payable 847

 

*The charge could be higher where additional Tax Return entries are required, for instance for landlords

 

**Where there is more than one director, or the company has staff, please refer to the payroll section for additional charges.Some clients prefer to avail our service for providing a registered office. Since most correspondence is now conducted online, the registered office facility is for the purpose of excluding the business or home address from the public register.

 

Service Yearly fee (£)
Annual registered office facility 50

 

Small business

 

Small businesses tend to have more complex accounting requirements than contractors. This is due to accounting for stock, assets, debtors, creditors and lease or other premises arrangements. Our fees are the same as for contractors, except for the company accounts preparation which would be as follows:

 

Service Yearly fee (£)
Preparation of Filleted Accounts, Full Accounts, Company Tax Return and corporation tax calculation for electronic filing with HMRC and Companies House:  
Turnover below VAT registration threshold (same fee as for contractors) 485
Turnover between VAT registration threshold and £250,000 600
Turnover above £250,000 On request

 

Please refer to the contractor section for additional fees that apply for payroll, director Tax Return and confirmation statement compliance Above Note that businesses with a turnover below the VAT registration threshold can use the cash basis for tax purposes.

 

Limited liability partnerships

 

Service Yearly fee (£)
Preparation of Filleted Accounts, Full Accounts and partnership Tax Return for electronic filing with HMRC and Companies House 485
Optional extras  
Preparation and filing of annual confirmation statement 35
Preparation of Tax Return to include partnership profit share from the LLP and calculation of any tax thereon: per partner 125
Total 605
VAT @ 20% 121
Companies House filing fee 13
Payable 739

 

As for limited companies, there is an extra fee of £50 for use of our office as a registered address.Generally for an LLP, there is no requirement for a payroll since profits are automatically shared between members.

 

Unincorporated partnerships

 

The fee is inidcative subject to any additional work bringing accounting material to trial balance

 

Service Yearly fee (£)
Preparation of partnership Tax Return 150
Optional extras:  
Partnership accounts (not obligatory and only if requested by client) 75
Preparation of Tax Return to include partnership profit partnership share and calculation of any tax thereon: per partner 150

 

Formation, strike off and other company secretarial

 

Service Yearly fee (£)
Preparation of application for strike off of the company 50
VAT 10
Companies House filing fee disbursement 8
Total payable 68

 

Service Yearly fee (£)
Preparation of application to register a company, and online submission to Companies House 50
Corporation tax registration with HMRC and appointment of Coman & Co as tax agent 20
Preparation of application to register the company for VAT (and if required flat rate scheme) 75
VAT 29
Companies House filing fee disbursemen 12
Total payable 186

 

Payroll

 

Payroll is not offered as a stand-alone service. It is only part and parcel of services we offer to business clients.

 

Service Monthly fee (£)
Fixed charge for operating a payroll or Construction Industry Scheme (see below for what is included and excluded.) 5.00
One director paid up to the employer's national insurance threshold 2.50
Per additional director (such as spouse) paid up to the employer's national insurance threshold 2.50
Per employee, or per director paid above national insurance threshold 5.00
Per any employee requiring additional workplace pension contribution calculation 2.50
Per subcontractor, processing and filing of CIS report with HMRC showing pay and tax deductions 5.00

 

Payroll service includes:

 

  • Registration as an employer with HMRC and set up of payroll, for which there is no extra charge;
  • Processing of HMRC notices: Late payment or late filing, student loan and tax code notifications;
  • Emailing of year-end P60 in March,and
  • Except for sole director companies:
    • Processing of monthly Real Time Information report to HMRC of pay, tax and other deductions;
    • Emailed payslips;
    • Advice on liability to HMRC for PAYE tax, NIC and student loan and date payable;
    • Email report showing gross pay, deductions, pension and cost to the employer;If applicable, report of pension contributions payable.

 

The following aspects of payroll are excluded:

 

  • Submission of a BACS report to HMRC;
  • Filing of pension payment to the provider. We can instruct on employer and employee amounts for input by the client;
  • Monthly payslips for directors paid up to the NIC threshold. This is to minimise paperwork. However, this service is optional as explained below;

 

Coman & Co does not accommodate a weekly payroll facility, only monthly.

 

Additional fees, usually for one-off work

 

Extra service Fee (£)
Paternity pay claim 50.00
Maternity pay claim 100.00
CIS refund claim* 50.00
Starter: Processing a new starter form (in addition to month one pay) 5.00
Leaver: Processing of P45 (in addition to final pay.) 5.00
Additional monthly payslip, though not required but nonetheless requested by director 2.50
Verification of subcontractor starters 5.00

 

*A CIS reclaim would be required for limited company clients who have not obtained gross payment status.Payroll is invoiced yearly in March or on cessation of the scheme, whichever is the sooner.

 

Bookkeeping and VAT

 

Coman & Co. do not offer a bookkeeping service, but work closely with well established local bookkeepers and, on request, can refer clients to an appropriate provider.  Rates typically range from £20 to £35 per hour.T he flat rate scheme has efectively been abolished for most businesses.  However, we offer a standard rate or flat rate scheme VAT prpearation and filng sevrice for £40 per month.

 

Service Yearly fee (£)
Preparation of four quarterly VAT Returns under the cash accounting or flat rate schemes @ £40 per Return 160

 

Tax advisory

 

Raphael Coman is a Chartered Accountant and Chartered Tax Adviser with a charge out rate for personal tax advisory work of £150 per hour. This includes assistance with an HMRC tax enquiry. Typical fees for a tax enquiry are below:Letter of tax advice regarding, for instance:A proposed property transactionA divorce or separationShare restructuring for a small businessCompany acquisition and disposal.

 

Miscellaneous

 

The table below includes a list of miscellaneous fees.

 

Service Fee (£)
 Calculation of available annual pension allowance for one tax year 150
 Per additional year 75
 Claim for overpayment relief in statutory form to include one tax year 200
 Per additional year 75
 Per tax year filing of a tax assessment for more than two years (indicative)  50 to 135
 Amendment to aspect of a Tax Return already filed  50 to 135
 Typical HMRC enquiry*  75 to 300
Complex HMRC enquiry, as an approximate only 850
Subsequent changes, once the two free adjustments have already been taken advantange of 85
Preparation of Financial statement, and accountant's certificate for the UK Border Agency, or mortgage lender proposes 225
Accountant's reference in support of a mortgage application or rental agreement 25 to 125

 

*Coman & Co do not offer or resell tax investigation insurance. We can refer clients to financial advisers, insolvency practitioners and legal advisers where the client request falls outside of our remit.

 

Fees estimates for UK tax work that is not listed above: Available on request.

Comments  

#2 Ray Coman, FCCA, CTA 2018-10-11 12:24
Janet, my annual fee would range between about £485 and £1,100 plus VAT depending on how much you wanted done. The service is flexible so that add or remove elements of the service depending on what you preferred to carry out without my assistance.
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#1 Janet Ensby 2018-10-11 12:23
Hi, I am about to start up a small consultancy limited company as I am going to act as an interim manager for 7 months on a 'consultancy' basis. I shall probably earn £100,000 for those 7 months. I would like a quote from you to handle my filings (VAT returns and year end accounts). I shall set the year end as 31.7.18. I shall not be paying myself a wage (I intend to take out £5,000 in dividends only per year for the next few years). Please could you give me an estimate of cost? Very grateful. Janet Ensby.
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