Accountants bill seems very high

  • Filter
  • Time
  • Show
Clear All
new posts

  • Accountants bill seems very high

    I have just received my accountants bill and still in shock. He charged me £850 for handling the accounts of 2 rental houses, and another house which I have 2 tenants sharing with me and my wife and also my personal income from my job. I spent about 10k on renovating one of the houses, plus about 2k on new furniture. He had about £860 back from the inland revenue. But now most of this will go in paying his bill.

    Your experiences with your accountant will help me in making my mind up about my accountant.

    Thanks Mark

  • #2
    That does indeed sound steep. I own 8 properties and when I was using a limited company to run them my accountant charged about £600. I have now stopped using said limited company and am anticipating a bill of something like £400 or even less this year to complete all my and my wife's returns to the inland revenue. Of course, to be fair I have no idea how much work your accountant had to do to prepare your accounts. I maintain a number of spreadsheets which enable my accountant to pick off all the figures he needs with little or no analasis. If I catch him doing any of this, then I immediately set up a spreadsheet to do this for him. Accountant's time is money - I prefer said accountant to check my figures, satisfy himself as to their accuracy and report accordingly to the inland revenue - or what ever they are called these days.

    Any information given in this post is based on my personal experience as a landlord, what I have learned from this and other boards and elsewhere. It is not to be relied on. Definitive advice is only available from a Solicitor or other appropriately qualified person.


    • #3
      Save my accountants time

      I also try and save money by supplying all the figures and totalling them for him. I will not go there next time. Does anyone know of an accountant company that specializes in accounts for just buy to lets and similar, where you can get good advice in South Wales?


      Latest Activity