Our Fees and Services

All you need to know about what we provide and how much we charge

Compare our fee and services

Service
File Only
Year End*
Fully Supported
Basic
Filing Accounts
X
X
X
X
Filing Corporation Tax return (CT600) - Limited Company
X
X
X
X
Accounts Preparation
X
X
X
CT600 and tax computation preparation - Limited Company
X
X
X
Bookkeeping
X
VAT returns preparation & filing
X
Payroll and RTI - Limited Company
X
Profit Extraction Strategy - Limited Company
X
Monthly Management Report
X
Self Assessment
X
X
Help, advice & query answering
X
X
Set Up and Getting Started

*The £249 fee for our year end service applies to companies with a turnover of less than £10,000 and less than 100 transactions in the year.

Unless otherwise stated our services assume a general level of about 400 transactions in the year and a turnover of £100k If you've more transactions than this or a higher turnover then we will assess your needs and provide a competitive quotation.

VAT will be added to all of our charges.

 

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Basic Accounting Monthly - Limited Company £39.99 | Sole Trader £19.99 plus VAT

We recognise that small business, contractors and freelancers often have a limited budget to spend on accountancy support and are able to undertake much of the basic bookkeeping themselves if they are using Cloud Accounting systems. Our Basic Accounting package provides you with the support that you need whilst keeping the fees at a price that you can afford.

Similar in nature to our Fully Supported package, our Basic Accounting service includes:

Limited Company

  • Preparing and filing the annual statutory accounts including the necessary filing at Companies House and HMRC
  • Completion of your Corporation Tax return (CT600) and filing at HMRC
  • Preparing and filing your self assessment (SA100 & SA102 supplementary pages) for one director
  • Answering any tax and accounts questions that you may have throughout the year

For Self Employed / Sole Traders

  • Preparing and filing the annual accounts including the necessary filing at HMRC
  • Preparing and filing your self assessment (SA100 & SA102 supplementary pages)
  • Answering any tax and accounts questions that you may have throughout the year

Note

Cloud Accounting software is not included in the fees

Additional self assessment supplementary pages, extra employees, complex or specialist tax queries will incur an additional charge. General queries, questions and help during the year will be subject to a reasonableness test. Your accountant will discuss any additional charges with you before they are incurred.

The self assessment and payroll is for one person

Additional self assessment will be £4 / month per person

The Confirmation Statement (previously known as the Annual Return) is not included. We find that clients find this very easy to complete themselves and your accountant will guide you through it if you need help

Self Assessment includes the SA100 & SA102. If other supplements are needed there may be an additional charge

VAT will be added to all fees

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File Only - £149 plus VAT

Many tech savvy contractors & freelancers manage their accounting affairs throughout the year using Cloud Accounting systems such as FreeAgent, Xero, Sage One, KashFlow, Intuit Quick Books, Clear Books etc. They just need a little help at the year end to file the accounts.

If you have agreed the balance on your bank account in your Cloud Accounting system to the balance on your bank statement at your accounting year end then this service is for you.

We'll take your final bank statements, trial balance and transaction list from your Cloud Accounting system and file your accounts and tax returns based upon your accounting records.

You can either send what we need via email or provide us with an accountant's or view only log on to your Cloud Accounting system; we can show you how to do this.

If we find something which means that we cannot file the accounts we'll tell you this and give you the opportunity to correct it.

If you want us to correct the issues that we discover we will give you a fixed price fee to do this.

Our objective is to guide & work with you so that in future years you're able to take advantage of our File Only service without any additional charge for correction being necessary.

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Year End Only From £399 plus VAT

For those who do not need general advice and support throughout the year with things like self assessment, payroll, VAT etc. we provide a Year End Only service. This service covers the accounts preparation and filing needed to ensure that you meet your statutory year end obligations, without the added extras that our Fully Supported package provides.

All we need is copies of your bank statements, details of your out of pocket expenses, your VAT and PAYE records, if applicable, along with access to any accounting systems which you may have used throughout the year.

We'll then:

  • prepare statutory accounts to the Companies Act format (required by HMRC)
  • prepare abbreviated accounts (required by Companies House)
  • complete the tax computations
  • complete the CT600 corporation tax returns
  • issue the accounts and tax return to you for approval & your signature
  • file the accounts with Companies House
  • file the accounts and tax return with HMRC

Please note that our fees vary depending on the level of bookkeeping already carried out. If bookkeeping has been done and the balance on the bank account in your accounting system agrees to the balance on the bank statements then our fee will be £399 plus VAT. If this is not the case then we will make a charge for bookkeeping and balancing the bank.  

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Turnover less than £10k Year End £249 plus VAT

This service is specifically aimed at those with a turnover of less than £10,000 with less than 100 transactions in the year.

Our team will prepare your year end accounts in the same way as our £399 service, see above.

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Fully Supported Monthly - Limited Company £64.50 | Sole Trader £39.99 plus VAT

Our "Fully Supported" service is one of the most competitively priced accountancy services in the market place. Delivered by fully qualified UK based accountants, this service provides everything that you need if you are an IT Contractor, Freelancer, Consultant, Engineering Contractor, Project Manager, Web Designer, Programmer, small business owner etc.

Not only do we take care of your bookkeeping & your accounts but we also send you a monthly email summarising vital information about your limited company in particular the turnover, profit, estimated corporation tax and VAT to be budgeted for, amount available to take as dividends and your estimated income tax bill based upon your salary and dividends to date - everything you need to make sure that your personal finances and the finances of your limited company stay on track.

This package also includes:

  • Agreeing an appropriate profit extraction strategy with you (salary and / or dividends)
  • Processing your monthly payroll and file your monthly Real Time Information returns for one director
  • Filing your VAT return if VAT registered
  • Preparing and filing the annual statutory accounts including the necessary filing at Companies House and HMRC
  • Completion of your Corporation Tax return (CT600) and filing at HMRC
  • Preparing and filing your self assessment (SA100 & SA102 supplementary pages) for one director
  • Answering any tax and accounts questions that you may have throughout the year

All of this for just £64.50 per month - this really is one of the best priced accountancy services around.

A great alternative to consider if you are with SJD, Danbro, Clear Sky, Nixon Williams, Brookson or another Contractor Accountants.

Note

Additional self assessment supplementary pages, extra employees, complex or specialist tax queries will incur an additional charge. General queries, questions and help during the year will be subject to a reasonableness test. Your accountant will discuss any additional charges with you before they are incurred.

The self assessment and payroll is for one person

Additional payroll will be £5 /month per person

Additional self assessment will be £4 / month per person

The Confirmation Statement (previously known as the Annual Return) is not included. We find that clients find this very easy to complete themselves and your accountant will guide you through it if you need help

VAT returns are not charged for as these are prepared and filed automatically by the system, assuming the correct set up

Self Assessment includes the SA100 & SA102. If other supplements are needed there may be an additional charge

VAT will be added to all fees


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Switch and Save

You can switch to us at any time.

The simplest time to change is at your year end.

It's never too early to start planning your switch.

In fact if you book your switch slot in advance for our Fully Supported package and pay for two months we'll give you a month FREE so YOU SAVE A THIRD!

Switching is easy. There is little for you to do, except to give notice and authorisation to your current accountant; we do the rest with minimum disruption to you during the switching process.

If you'd like to know more just pop your details onto our form ( click here); we'll be in touch to talk you through the process and get the ball rolling to make sure YOU SAVE A THIRD!

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What happens if I'm part way through my accounting year?

You can switch accountants at any point. This is how we'll handle the switching process for you:

File Only or Year End Only

If you want to use our File Only or Year End Only services then you can move at any time. We'll do your year end accounts when the time comes.

Moving to our Fully Supported package

We try to keep our fees simple and transparent. This section explains what we will charge if you join us part way through the year and want to use our Fully Supported package.

As a general principle we spread our fees throughout your limited company's financial year.

If you join part way through a year you will need our services from that period onwards and for your year end accounts.

So for your first year with us we'll charge you £399 for your year end plus £31.25 a month from the start of the month that you join us up until the end of the company's financial year. We then charge £64.50 per month from the start of your next financial year.

Examples

Joe has a limited company with a year end of 31 December 2016.

He joins us on 15 July 2016.

He will pay £31.25 plus (£399 /6 covering July through to December) = £97.75 until 31 December 2016 then £64.50 from 1 January 2017.

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Louise has a year end of 31 May 2017 and joins us on 5 August 2016.

She will pay £31.25 plus (£399 / 10 covering August through to May) = £71.15 until 31 May 2017 then £64.50 from 1 June 2017.

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VAT is added to all fees.

Your accountant will provide you with a detailed quotation which covers our fees and how we charge.

We believe that our approach is fair and equitable all round.

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Not sure when your year end is?

If you're not sure when your year end is then that's not a problem. We'll be able to tell you and give you the best approach possibly to switching over to us.

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What On Line Accounting System?

There are many Cloud Accounting systems available to use at varying prices and with different features.

For most of our clients a very basic, entry level system (also known as a Cash Book version) is suitable for their accounting needs. Unless required, we advise against using a full version of Cloud Accounting systems as many of the features will not be needed and the system can seem over complicated for simple and straightforward bookkeeping needs. However where additional functions such as invoicing, VAT MOSS or EU VAT are needed a business owner should consider a full, more function rich version of a Cloud Accounting system.

If you do not already use a system or have a preference then your accountant will be more than happy to discuss a suitable Cloud Accounting system with you and help you to decide which one may suit your needs.

Except for clients who are on our Fully Supported package, whichever Cloud Accounting system used you will need to pay the monthly charge for the software in addition to our fees. Free entry level software is included in our Fully Supported package.

We recommend you use a Cloud Accounting system which will allow you to:

  • Work together with your accountant so that they are much better placed to provide specific help
  • Access your chosen on line Cloud Accounting system from any computer, anywhere, anytime - no more duplicated data or annual updates!
  • Make your bookkeeping easy - just use the import bank statement & you will have it done in no time
  • Know exactly how much profit you have made and how much you have in your bank account so that it's straightforward to budget for VAT and corporation tax.

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VAT

 

Prices quoted are monthly fees exclusive of VAT. VAT will be charged at the prevailing standard rate.

The Essentials

At CheapAccounting.co.uk we've used our years of experience to streamline the accounting and tax processes. We use technology and Cloud Accounting systems to cut out unnecessary effort, duplication and manual intervention. As qualified accountants we spend our time on the things which need our attention. We take time with you, our clients, to make sure that your questions are answered & that you feel confident in what you need to do and what we do for you.

As a CheapAccounting.co.uk client you are allocated to your own accountant who is UK based and fully qualified.

We don't have account managers, call centres or help desk systems ticket numbers - you deal directly with your accountant who can answer your queries and questions without delay.

We have tried to keep our fees as competitive as possible. The more work you do the less your accounting fees will be.

We always tell you what is and isn't included in our fees.

Undoubtedly you'll have some questions about your accounts and tax affairs. If you're using our Fully Supported package we're on hand to support you with these questions.

Finally we do not charge exit or transfer fees; you're free to leave at any time although we'd be very sorry to see you go.