How Much Are Our Monthly Accounting Fees?
We charge a fixed monthly price for our accounting service, based on the information you provide in the free quote form. We won’t surprise you with any extra costs or fees during the accounting year. It’s all included in our monthly charge.
Services included in our monthly accounting cost
When you pay for our monthly accounting service, you’ll get everything you need from us within one package. This varies from one individual to the next, but usually includes:
Monthly management accounts
We’ll prepare your monthly Profit & Loss Account, Balance Sheet, and detailed Ledger Listings. You’ll also receive tailored advice and tax estimations.
Our accountants will manage your bookkeeping on your behalf, saving you time and letting you focus on other aspects of life or business.
Self-assessment tax return
The team at Mazuma can handle your self-assessment accounts and tax obligations for you, ensuring you avoid fines for errors or delays.
Statutory year-end accounts
We’ll submit year-end accounts to HMRC and Companies House on behalf of your limited company, ensuring your details are accurate and avoiding fines or penalties.
What monthly fees can I expect?
Your monthly fees will be unique to you and your requirements.
You may be looking for the most basic accounting services from us — for instance, you may simply need us to handle your bookkeeping and self-assessment tax return.
On the other hand, you may require some of our add-on services, such as payroll management, VAT return, and corporation tax return, which will take longer for your accountant to work through.
We recommend filling out the get a quote form (it’s free and there’s no obligation to commit to our service) to get a better idea of your monthly cost.
FAQs about accounting fees
What are the average accounting fees?
That’s impossible to say, as prices can vary depending on the selection of services required.
Some accountants also charge per hour, making it even more difficult to give a set average cost. Accountants in the UK can charge between £25 and £50 per hour or more.
If you choose a company that offers a fixed monthly fee, like Mazuma, you’ll probably pay in the range of £50 – £150 per month to have your accounts and bookkeeping maintained, including your self assessment and/or corporation tax return.
Why pay monthly instead of a fixed fee/per hour?
Making monthly payments, rather than a one-off fixed fee, will suit your business better if you’re looking for a rolling accountancy service. Rather than paying for a year’s worth of service upfront, you can split your payments over 12 months, which is much more manageable.
We charge a fixed monthly cost rather than an hourly rate so that you know precisely what you will be paying. An accountant charging an hourly fee may bill you for five hours one month and ten hours the next. We keep our costs the same every month, so you’re never hit with an unexpected bill.
Do your accounting fees include self-assessment tax returns?
Yes. The fixed monthly price includes all your year-end statutory requirements and tax returns. We just require that you’ve received 12 months of Mazuma service to be eligible. This will all be outlined in the terms and conditions you will receive when you sign up with Mazuma.
Can you negotiate accounting fees?
Negotiating accounting fees isn’t typical in the UK. If you’re choosing a service that offers a set monthly cost, you’ll be paying for the exact services you choose when you sign up, so it’s highly unlikely that you’ll be able to negotiate the price.
Do accounting fees include VAT?
Yes, they should. Mazuma’s accounting fees are inclusive of VAT, so the price you’re given is the price you pay. Always ask an accountant before hiring if you’re unsure.
Do accounting fees count as a taxable business expense?
Yes, HMRC counts accountancy fees as allowable business expenses. However, the nature of an accountant’s work may mean that some fees cannot be counted. Handily, if your accountant helps you with your self-assessment tax return, they’ll also be able to guide you on exactly which of their fees you can claim for.