Three questions about your firm and you see the fee: accounts and tax £99 a month + VAT for a sole practitioner, client account reconciliation £150 a month + VAT, and the SRA Accountant's Report from £1,250 + VAT a year.
Accounts and tax. For a sole practitioner, £99 a month + VAT: the firm's annual accounts and your self assessment tax return. For a partnership, LLP or limited company law firm, from £149 a month + VAT: the annual accounts and the partnership, LLP or corporation tax return. The figure rises with the number of partners, members or directors and the volume of matters on the ledgers, and we confirm it in writing before we start.
Client account reconciliation. £150 a month + VAT: the three-way reconciliation of bank statement, cash book and client ledger total every month, with differences investigated and a record ready for your COFA or a manager to sign off. Rule 8.3 of the SRA Accounts Rules requires one at least every five weeks.
The SRA Accountant's Report. A fixed fee from £1,250 + VAT a year, quoted for larger firms. 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. Colin Ellis of Anstey Bond LLP, ICAEW and a Responsible Individual, prepares and signs it. The report fee is separate from the monthly fee.
Every fee is shown before VAT, with the figure including VAT beside it. All our fees.
We confirm the fee in writing within one working day, from the person who would look after the firm. If the firm's accounting period has already ended and the report is due, we say what has to happen first: the ledgers and reconciliations for the period are put straight, and then the report is arranged within the six months rule 12.1 allows.
It takes one letter of engagement from you. We then write to your current accountant for professional clearance and the records. A move early in an accounting period gives the most time to get the reconciliations that the next report is tested against into shape.
The SRA regulates firms in England and Wales. A firm regulated by the Law Society of Scotland delivers an Accounts Certificate to the Law Society of Scotland, and a firm regulated by the Law Society of Northern Ireland delivers an accountant's report under Part F of the Solicitors' Accounts Regulations 2014. The accounts, tax and reconciliation fees are the same; ask us about the certificate or report for your firm.
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