Final accounts fees
In terms of the final accounts which we prepare, we will usually charge a full year for preparing the final accounts if the company’s year end is shortened – this is because the work involved in a short period of account is not significantly less than a 12 month period of account. In exceptional circumstances we may agree a reduced fee.
If the company is extending its year end, we will usually charge a minimum additional £610+VAT – this is because the work involved in a long period of account is more than a 12 month period of account. If we have already started the previous year end accounts we reserve the right to charge up to 18 months fees.
If the company makes a loss in its final set of accounts we can apply for this to be carried back to previous accounting periods if this would result in a repayment of Corporation Tax. There will be an additional fee for this service for each tax year where we are carrying back a loss - this is a minimum of £495+VAT and will depend on the complexity of the calculations and the tax to be relieved. This also includes resubmitting and agreeing the loss relief with HMRC but does not include chasing up any repayment due.
Software fees
If you are using Xero or FreeAgent, then we will continue to charge the Xero or FreeAgent subscription per month until we are able to close the system – this will usually be after we finalise the accounts.
Please note this will be at least one month after we finalise the accounts as there is a 30 day notice period.
Xero – dissolving the company
If you are dissolving the company, there will also be an additional £60+VAT charge to allow us to keep Xero open until the company is dissolved. This will enable us to provide you with reports should the need arise (although we strongly recommend you download all reports from Xero prior to us downgrading) – depending on the number of reports required this may be chargeable.
Xero – making the company dormant
If you are making the company dormant, there will also be an additional £130+VAT charge to allow us to keep Xero open for a further 2 years. This will enable us to provide you with reports should the need arise (although we strongly recommend you download all reports from Xero prior to us downgrading) – depending on the number of reports required this may be chargeable.
FreeAgent
Whichever route you take, the fees for FreeAgent will be £33+VAT a month.