Hi my name is Lyanne and I’m the managing director of Wilds. The coronavirus outbreak is having a huge impact on everyone at the moment and we are trying to provide as much support as we can during this time. Have a look at our coronavirus updates on the website and contact us if we can help with anything else.


A guide to accountancy costs

One of the questions that we often get asked before we even meet a prospect is about price. This is a difficult question to answer but I will do my best to explain. There are many different services that you could choose from and many options within these services that we want to discuss with you which is why at Wilds, and indeed in most accountancy practices we would rather meet with you first and discuss you and your business and what services you want before we give a quote. This is because we want to feel comfortable that we understand what is important to you and what services you would like. We want to get it right so that the start of the relationship is a good one and you don’t have any regrets over your decision.

We do however understand that people may want some general pricing guidelines before they commit to an appointment. After all in today’s society with so much available on the internet we are used to knowing the price of something before we visit.

The services that we provide vary massively as do the businesses that we act for.

On our website www.wildsca.com you will see a tab for Wilds online. These packages aim to cover the compliance work that you need as a business and then build on the reporting and client contact surrounding that as we go through the different packages. The minimum price is shown on there and will be liable to change depending on the size of your company and the number of employees that you have. If you have more than one director or would like more reporting or more regular contact than is included this would also alter the price. This is why we state that we will provide a quote for you and this is why we usually ask that you come in and meet us to get to that stage.

As an example if you are just interested in year end Limited company accounts our minimum price for this is £1450 including the company tax return that you must also submit. We would expect this price to apply to someone who has very good bookkeeping systems in place but is quite small in terms of turnover and has less complexity on the balance sheet.

Other factors that will affect this are size of business and the complexity of the balance sheet. The standard of the paperwork that we get from you is also a big part of what it costs. There is a big difference between someone who brings in boxes of information for us to go through manually to start to put the accounts together to someone who perhaps uses software and reconciles the bank.

From our side we use standard files to produce the work to make sure that you are compliant, everything is reconciled, we have documented everything we need in case of query from the client or HMRC, we analyse your accounts and discuss variances with you and also discuss what is going on in your business. So we too have quality guidelines that we choose to adhere to when providing this service.

Every service that we have has different questions attached and that is why we need time with you to prepare a quote.

On a slightly different note, if you are searching on the internet for price comparisons I would recommend looking at what is actually included rather than just focusing in on the initial price. Are the prices fixed fee with set parameters in place to explain what is included in the fee? Do they include telephone support or will you be charged separately if you ring up with a query? Do you have given contacts for the work so that you can get to know them and build a relationship with someone who knows your business? Is there any meeting time included to go through the numbers with you? Is tax advice inbuilt or will you be charged extra for this?

There are lots of things to consider when you are looking at this area. Although we couldn’t give you a definitive answer to what it will cost for the services for your company I hope we have at least given you some guidelines and a list of things to think about when looking at this area.