This question comes up time and time again for us when speaking to new clients. It’s quite a hard question to answer and it’s often very similar to asking a builder how much an extension could cost on a house? Initially, we need to understand what type of extension you need, what its being built from and how big its going to be. Once we start to dig deeper into your business, we’re much more able to provide an average cost for what your business needs are.

Understanding the cost of accountancy services is crucial for businesses looking to manage finances efficiently. The fees charged by accountants can vary significantly based on the services required, the complexity of the work, the skill and size of the accountancy, plus the specific needs of your business. At MJ Kane Accountants, we tailor our services to meet the unique requirements of each client, ensuring you always receive the best value.

Case Study 1: Small Retail Business

Consider a small retail business with annual revenues of £300,000. This client requires basic bookkeeping, annual tax returns, and VAT filing. For such a business, the cost of accountancy services typically range between £1,000 and £2,500 per year. This includes maintaining accurate financial records, preparing and filing tax returns, and ensuring compliance with VAT regulations. The services provided help the business owner focus on daily operations without worrying about financial management.

Case Study 2: Mid-Sized Manufacturing Company

In contrast, a mid-sized manufacturing company with revenues of £5 million has more complex accounting needs. This client requires not only bookkeeping and tax returns but also payroll services, financial forecasting, and regular management accounts. The annual cost for such comprehensive services could range from £5,000 to £20,000. This higher fee reflects the increased complexity and the need for more detailed financial analysis and strategic planning, which is crucial for the company’s growth and decision-making processes. The more services and more complexity to the services required, tends to add to the fee value. Purely on a time and expertise led basis.

We Tailor Services To Your Business

The examples above highlight how different clients can have vastly different accounting needs and associated costs. A startup or small business might only need basic tax filing services, costing as little as £500 to £1,000 per year. On the other hand, larger businesses with complex operations may require ongoing financial oversight and strategic advice, leading to the higher fees.

Get a Bespoke Quote For Your Needs

At MJ Kane Accountants, we understand that every business is unique. Our team of experienced professionals works closely with you to understand these needs and provides a customised service package. We pride ourselves on dedicating an accountant to you, no matter your size. You will always receive a personalised service from a dedicated accountant who will always be on hand for your business.

Whether you are a small startup or an established enterprise, we offer a range of services designed to help you achieve your financial goals.

To find out how much accountancy services will cost for your business, contact MJ Kane Accountants today for a quick, no-obligation quote tailored to your requirements. Let us help you navigate the financial landscape with confidence and precision. Our friendly team will be happy to help.