Forum

• # 114018
• Wed 26 Oct 2016 07:56 AM

Hi,

I have been self-employed for two months and have already had a query regarding self-assessment. I am looking into studying and qualifying for self-assessment, which will also help me do my own. I am planning on buying the ICB's book to learn then sit a mock and real exam to qualify, as I have touched on self-assessment previously in my studies.

My question is, how much do I charge to do a client's self-assessment for a) a client who I do their books already, and b) for a completely new client who only wants self-assessment?

I currently charge £20 as standard per hour, with the intention of having a set fee per month when things settle and get into a rhythm, and am based in rural Lincolnshire, however as I do not know how long a self-assessment job will take I don't know how much to charge or allow for time wise.

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• # 114021
• Wed 26 Oct 2016 04:37 PM

Hi,

i am also in Lincolnshire, where are you based?  

I don't charge much differently between those I do the books for and those I don't.  The self employment section of the return is only a small part and most of the time taken in doing a return is fact finding for the other sections.  If you would like to discuss with other members in the same geographical area as you can I suggest you come to the branch meeting on Thursday, as there will be plenty of time to do general discussion as well as having a presentation, not to mention CPD points up for grabs!

Lucy

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• # 114023
• Wed 26 Oct 2016 07:36 PM

Hi Lucy,

Thank you for replying. I am just outside Bourne in the PE10 area, where are you?

Where and what time is your branch meeting tomorrow? I will admit this is something I haven't looked into yet, the two months of trading have flown by but I am interested.

Marie.

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• # 114024
• Wed 26 Oct 2016 09:03 PM

I'm based in Louth but the meetings are on the south side of Lincoln, which I am guessing may not actually be your closest meeting.  If you would like details they will be on the events section of the website.

The meeting is next Thursday, 3rd November.

Lucy

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• # 114027
• Thu 27 Oct 2016 07:36 AM

Both closest meetings are about an hour from me - that's usual we always have to travel a way from here.

Is there anywhere else I would be able to find out pricing guidelines?

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• # 114028
• Thu 27 Oct 2016 08:38 AM

Mayflower Bookkeeping said:

“

Both closest meetings are about an hour from me - that's usual we always have to travel a way from here.

Is there anywhere else I would be able to find out pricing guidelines?

”

 It is unfortunately an hour from many of our members, me included, but most central to the area!

I think you just have to do yor research on other local bookkeepers.  I have some of my original clients at one price and then newer clients are charged more.  I am happy that some are on the lower price it is kind of their reward for trusting me while starting out!  You will also find that different people are willing to pay different amounts dependent on how valuable they view the work you do.  it is worth playing around a bit.

the other thing is to bare in mind that some returns will be more taxing than others I toyed with the idea of charging on a scale dependent on number of sources of income the client had....

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• # 114035
• Thu 27 Oct 2016 05:44 PM

Pricing is allways a tough one but you have to be competitive for your region. London would be different to Lincolnshire. Like you I have been in practice less than a year and I have several Self Assessment clients. They are all on fixed price and I am happy I am better off that way. Be careful though as some are much more complex than others. I have developed a basic price and add to it for the various complications. Two issues to consider 1) I plan on charging more if anyone comes to me in Dec and more again if they leave it till Jan. 2) What is the state of the information they are giving you - most of mine are also including annual accounts so it makes it lucrative.

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• # 114037
• Fri 28 Oct 2016 11:39 AM

That is the issue really, someone has enquired, however I can't give him a price if he decides he wants me to do his self assessment, because I don't know how long it will take or heat the general rules of thumb are.

for this particular person I would say he will have basic ins and outs on either a spreadsheet or in a book, with a box of receipts And is happy to continue  do it this way. He isn't a limited company, just a sole trader. Would you be able to say how long this would take you hourly wise To give me a rough idea? Sorry if I'm prying a little, but any info is useful at the moment.

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• # 114038
• Sat 29 Oct 2016 06:31 AM

Sorry to be evasive on the issue but you really have to get much more infi. Then est how long it would take you. A good start might be do you know what he is paying now. Let me give you 2 examples of ones I have done recently. New business about 50 sales invoices and 20 pur inv plus car mileage log took only a few hrs compared to box of about 500 receipts bank statemenrs and about 200 sales invoices took a few days.

 You really have to drill down on volume of work you have to analyze plus understand the various types of income he is declaring together with capital allowance implications

Most people you will see offer a 1 hr free consultation and it is here where you can get this info

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