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Estimate on annual fees for a contracting company (ltd)

  • 29-01-2018 6:05pm
    #1
    St1mpMeister
    Registered Users Posts: 509 ✭✭✭


    What are average accountant fees for a one-person ltd IT consultancy where the required accounting services include:

    - Setting up the ltd company (first year fee)

    - Annual tax return

    - Payroll

    also it would be good to have a retainer of some sort for general advice through the year.

    What sort of fees would I be looking at for those per year?


Comments

  • #2
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    Less than a grand for normal annual fee (does not include setup). Also to include personal tax advice (proprietary director must file form 11).

    Payroll+VAT you can do yourself, it's just the general advice and EoY that you want.

    Also make sure accountant can use computer+email (you might be surprised). Location not relevant because of this.


  • #3
    St1mpMeister
    Registered Users Posts: 509 ✭✭✭St1mpMeister


    srsly78 wrote: »
    Less than a grand for normal annual fee (does not include setup). Also to include personal tax advice (proprietary director must file form 11).

    Payroll+VAT you can do yourself, it's just the general advice and EoY that you want.

    Also make sure accountant can use computer+email (you might be surprised). Location not relevant because of this.

    Thanks, so circa €950 / year?

    Roughly how much are the fees to get the company setup?

    And how long does it typically take?


  • #4
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    I pay e1000/year (ex vat) for eoy prep+general company and personal tax advice.

    It's been 10 years since I had to deal with startup procedure so things may have changed. In theory you can do it yourself, but this would be more expensive and take longer. Agents registered with CRO can do it quicker and cheaper (they have access to special online system, we don't). Find one of these agents and get the best price. It cost me e200 and took a few days I seem to remember.


  • #5
    Don2017
    Registered Users Posts: 13 ✭Don2017


    I generally charge around €300 to set up a standard new company. I'll pm about annual costs.


  • #6
    Immy
    Registered Users, Registered Users 2 Posts: 260 ✭✭Immy


    Cost’s €200 to set up a company.

    I think for what you describe you’d be looking at fees for about 1000-1250.


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  • #7
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,241 Mod ✭✭✭✭L.Jenkins


    For a PAYE Contractor your talking €960 to €1080 per year. For an LTD setup, you're looking at €250 to setup + €1680. So €1980 in total for an LTD.


  • #8
    St1mpMeister
    Registered Users Posts: 509 ✭✭✭St1mpMeister


    L.Jenkins wrote: »
    For a PAYE Contractor your talking €960 to €1080 per year. For an LTD setup, you're looking at €250 to setup + €1680. So €1980 in total for an LTD.

    Wow, ok. Were all the other quotes based on a PAYE contractor?

    So €1680 where it's a sole-proprietorship?


  • #9
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,241 Mod ✭✭✭✭L.Jenkins


    So the first set of numbers I gave you were for a PAYE worker, the second set is for an LTD setup. It would vary slightly from Company to Company however. I worked for an Umbrella Services Company and was a Contractor with another. So I know that even the customer service can also vary.


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