Hiring an accountant is an important step in any business venture, as they can assist with services such as helping ensure you meet your tax requirements, and collecting data for your year-end accounts.
However, you may be wondering how much money you need to budget to hire an accountant, and whether this is something your small business can afford at this juncture. Below, we run through some of the typical fees accountants will charge for these services.
Before we do though, if you want a concise price based on your bespoke needs, get in touch.
At Archimedia Accounts, we are happy to provide you with a free consultation, so that you can gain an insight into the services your business will benefit from, with details on how much this will cost. Simply get in contact and our family-run team will arrange this for you.
How much does an accountant cost per month?
If you are considering hiring an accountant on a monthly retainer, the cost of this will generally increase in line with the size of your business (since more work will be required to effectively service a larger business than a smaller one).
However, there are several other factors which can also affect the price you can expect to pay for monthly accountancy services, including:
- The structure of your business, including how your business is registered and the number of employees you have.
- The complexity of your finances and transactions.
- The state of your accounts, and whether you have hired an accountancy firm before.
How much does an accountant cost per service?
Accountancy firms offer a range of services, each differing in complexity and how much time is allotted to complete them.
These fees will differ between firms and also as a result of the factors mentioned above, and the below table indicates the general price range you can expect for the most popular accountancy services.
| Service | Price Range |
| Bookkeeping | £20-£50 per hour |
| Financial planning | £100-£300 per hour |
| Tax preparation | £150-£500 per return |
Conclusion
In summary, the cost of an account will depend on several factors, including the size of your business and the complexity of the work involved.
The best way to find out how much an accountant will cost for your specific business is to get in touch with our team at Archimedia Accounts. Simply fill out our contact form, and one of our friendly team members will be in touch to schedule a free consultation for your business.
FAQs
Can I hire an accountant as a one-off?
This is dependent on the accountancy firm you wish to work with, but, yes, typically you can hire an account to work on a limited basis rather than on a monthly retainer.
This is likely to be for a particular service, such as the collection of year-end accounts. However, we recommend working with an accountant on a longer-term basis, as services such as bookkeeping are beneficial year-round, and also make the year-end accounts service more straightforward.
What percentage of my businesses revenue will be spent on an accountant
As mentioned above, the price you will ultimately pay for your accounting services will depend on many different factors. For the most accurate idea on how much you can expect to pay, book a free consultation. Generally speaking though, companies can expect to pay between 1% and 3% of their total yearly revenue on accounting services.
