Fixed fees for law firms: accounts and tax £99 a month + VAT for a sole practitioner and from £149 a month + VAT for a partnership, LLP or limited company, client account reconciliation £150 a month + VAT, and the SRA Accountant's Report from £1,250 + VAT a year.
| Service | Fee | Including VAT |
|---|---|---|
| Sole practitioner: annual accounts and self assessment tax return | £99 a month + VAT | £118.80 a month |
| Partnership, LLP or limited company law firm: annual accounts and the firm's tax return | from £149 a month + VAT | from £178.80 a month |
| Client account reconciliation, every month | £150 a month + VAT | £180 a month |
| SRA Accountant's Report, prepared and signed by a registered auditor | from £1,250 + VAT a year | from £1,500 a year |
A sole practitioner pays £99 a month + VAT (£118.80 a month including VAT). That covers the firm's annual accounts and your self assessment tax return, including the payments on account due on 31 January and 31 July.
A partnership, LLP or limited company law firm pays from £149 a month + VAT (from £178.80 a month including VAT). That covers the annual accounts and the partnership return, the LLP's return or the company's corporation tax return. The fee rises with the number of partners, members or directors and with the volume of matters the client ledgers carry, and we confirm it in writing before any work starts.
The fee is £150 a month + VAT (£180 a month including VAT). Every month we reconcile the client bank statement, the client cash book and the total of the client ledgers, investigate every difference and keep the note of how it was resolved, and send the record to your COFA or a manager to sign off. Rule 8.3 requires a three-way reconciliation at least every five weeks, and it is the first thing a reporting accountant tests.
The fee is fixed, from £1,250 + VAT a year (from £1,500 a year including VAT). Larger firms, and firms with several client accounts or a high volume of transactions, are quoted. The report is a separate annual fee and is never part of a monthly fee.
Rule 12.5 requires the report to be prepared and signed by a member of ICAEW, ICAS, ACCA or ICAI who is, or works for, a registered auditor. Buzz Accounting is licensed by the AAT and cannot sign it. Colin Ellis of Anstey Bond LLP, ICAEW and a Responsible Individual, prepares and signs it. We do the bookkeeping and reconciliations that decide whether it comes back clean.
Under Rule 12.1 the report must be obtained within six months of the end of the accounting period, and delivered to the SRA only if it is qualified. Some firms do not need one at all: check the rule 12.2 exemption.
Every fee is shown before VAT at 20%, with the figure including VAT beside it. A VAT-registered firm reclaims the VAT in the usual way.
Answer three questions on the instant quote and you see the fee for your firm. We confirm it in writing within one working day. Moving from another accountant takes one letter of engagement from you; we then write to your current accountant for professional clearance and the records.
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