Accounting plays a vital role in managing any business, ensuring that financial operations are compliant, transparent, and efficient. Whether you’re a freelancer, a small business owner, or managing a large corporation, accounting services are essential for keeping your finances in order. However, one common question among business owners is: “How much do accounting services actually cost?”

In this guide, we’ll explore the various factors that determine the price of accounting services in the UK, the types of services available, and how Legacy Accounting offers a cost-effective solution for businesses of all sizes—without hidden fees.

Table of Contents

  • What Factors Influence the Cost of Accounting Services?
  • Types of Accounting Services and Their Costs
  • Typical Pricing for Accounting Services in the UK
  • How Legacy Accounting Provides Affordable Solutions
  • Why Choose Legacy Accounting for Your Accounting Needs?
  • Frequently Asked Questions (FAQs)
  • Contact Legacy Accounting for a Free Consultation

What Factors Influence the Cost of Accounting Services?

Understanding the cost of accounting services is essential for managing your business budget and ensuring you’re getting the best value for your money. Several key factors influence how much you’ll pay for accounting services, including the size of your business, the complexity of your financial needs, and the type of service you require.

Business Size

The size of your business has a direct impact on accounting costs. For smaller businesses or sole traders, the need for detailed financial analysis is less frequent, making basic services like bookkeeping or tax returns relatively affordable. Larger businesses with complex structures, numerous employees, or multiple revenue streams often require more advanced services such as financial reporting, internal audits, and tax planning, which increase costs.

Service Complexity

The complexity of the service required will affect the price. Simple tasks like tracking expenses or preparing basic financial statements typically cost less, while more specialised services such as management accounting, tax planning, or forensic accounting require more expertise and may be priced higher.

Frequency of Services

How often you require accounting services can also determine the price. One-off services, like preparing annual tax returns or handling VAT submissions, are generally charged as a fixed fee. Ongoing services, such as monthly bookkeeping, payroll management, or regular financial reporting, may be charged on a subscription or monthly basis.

Location of the Accountant

Accounting fees in the UK can vary based on location. London and other major cities tend to have higher fees compared to more rural areas due to cost of living and demand for services.

Expertise and Reputation

Experienced accountants or firms with a strong reputation will typically charge higher fees due to their track record, expertise, and ability to provide specialised advice.

Types of Accounting Services and Their Costs

Understanding the different types of accounting services and their associated costs will help you decide what services are best suited to your business and budget. Here’s a breakdown of the most common accounting services offered in the UK:

Bookkeeping Services

Bookkeeping is essential for tracking financial transactions and ensuring your cash flow and tax obligations are managed.

  • Cost: £200 to £500 per month, depending on transaction volume and complexity.

Tax Services

Includes preparing self-assessment tax returns and more complex corporate tax filings.

  • Self-Assessment: £150 to £300 for a basic tax return.
  • Corporation Tax: £500 to £1,500 per year.
  • VAT Returns: £200 to £500.

Payroll Processing

Handles employee salaries, tax withholdings, National Insurance, and pensions.

  • Cost: £20 to £100 per employee per month.

Financial Reporting & Analysis

Preparation of monthly or quarterly financial statements to understand your financial position.

  • Cost: £500 to £3,000 per month, depending on complexity.

Audit Services

Involves a detailed examination of financial statements for compliance.

  • Cost: £1,000 to £10,000 or more, depending on business size.

Typical Pricing for Accounting Services in the UK

Here’s a general idea of what you can expect to pay for typical accounting services:

  • Bookkeeping: £200–£500 per month.
  • Tax Returns: £150–£300 for self-assessment.
  • Corporation Tax Filing: £500–£1,500 per year.
  • Payroll: £20–£100 per employee per month.
  • Financial Reporting: £500–£3,000 per month.
  • Audits: £1,000–£10,000 or more, depending on your business size.

How Legacy Accounting Provides Affordable Solutions

At Legacy Accounting, we understand that the cost of accounting services can be a significant concern for businesses. That’s why we offer cost-effective, transparent pricing with no hidden fees. Our pricing structure is designed to be accessible to businesses of all sizes, ensuring you get high-quality accounting services at an affordable price.

Transparent Pricing
We believe in clarity when it comes to pricing. With Legacy Accounting, you won’t face unexpected charges or hidden fees. We offer clear pricing upfront so that you know exactly what you’re paying for.

Flexible Payment Plans
We offer flexible payment plans that can be tailored to suit your requirements. Whether you need monthly bookkeeping or annual tax filing, we have options to fit your budget.

Starting at Just £24.50 per Month
Legacy Accounting offers services starting at just £24.50 per month. Whether you’re a sole trader or managing a growing business, our pricing ensures that professional accounting support is within reach. Our services include bookkeeping, tax returns, and financial reporting, all delivered with expertise and care.

Why Choose Legacy Accounting for Your Accounting Needs?

When it comes to managing your business finances, choosing the right accountant is crucial. Here’s why Legacy Accounting is the best choice for many businesses:

  • Expert Advice at Competitive Prices: We provide the expertise you need at a price that suits your business.
  • Tailored Packages for SMEs: Our services are designed with small and medium-sized businesses in mind.
  • Scalable Solutions for Growing Businesses: As your business grows, our services can grow with you, offering the support you need every step of the way.

Frequently Asked Questions (FAQs)

What’s Included in Legacy Accounting’s Services?
We offer a full range of services, including bookkeeping, tax filing, payroll, financial reporting, and more. All services are customizable to your business needs.

How Do You Get Started with Legacy Accounting?
Getting started with Legacy Accounting is simple. Just contact us for a free consultation, and we’ll assess your accounting needs to provide a tailored solution.

Can I Switch My Accountant Easily?
Yes, we make the transition seamless. Our team will handle all the details to ensure there’s no disruption in your accounting processes.

Contact Legacy Accounting for a Free Consultation

If you’re ready to get professional accounting support without the hefty price tag, Legacy Accounting is here to help. Contact us today for a free consultation and find out how our services can benefit your business.

Let Legacy Accounting take care of your finances so you can focus on growing your business.

Get Expert Financial Support.

Experience the difference that dedicated, professional support can make. Book your consultation today to get started.