Competitive Fees
At Lesstax 4 U, we generally work on a competitive fixed-fee basis. This means we agree on the fee you pay for our services, which include unlimited email and telephone support in addition to the agreed work. Whether you require year-end accounts and tax work or more complex accounting, we will discuss this with you in advance. If any additional fee is required for the extra workload, we will also agree on this beforehand. Get in touch today for further details.
Billing
For both personal tax clients and businesses, agreed annual fees are billed one-third on signing our Engagement Letter. The remaining balance is billed after completion of the year-end accounts and/or tax planning and tax return work.
Bills are due for payment 14 days after issue. We do respectfully ask clients to pay bills on time as it is embarrassing for both parties if bills need to be chased.
Fee Indications
Please note that the following fee indications are for guidance only, as every client has different requirements. All fee quotes are determined and provided on an individual basis.
Additionally, we expect all clients to provide us with reasonably good business records, to enable the accounts and/or tax work required to be professionally completed. We provide professional standard templates and guidance documents to ensure that clients keep good records of income and expenditure during the year.
Property Investors
For property investors that invest in their own name(s), a base fee is charged per Tax Return, plus a fee for each investment property held at year-end, as follows:
Per Tax Return - from £300.00
Per Investment Property Held at Year-End - from £60.00
Other Individuals
Tax returns for clients who are not property investors are set on an individual basis according to the complexity of the individual’s affairs and the quality of the information provided to us. Typically, for a simple tax return, our fees would start from £250 per tax return.
If Sole Trader accounts are required, these start from £350 in addition to the basic Tax Return.
Limited Companies
We offer an all-inclusive service to manage all aspects of running your limited company, from initial set-up onwards. Fees start from £600 for this service, which includes:
- Annual Financial Statement or Accounts in a Legally Acceptable Format
- Filing with Companies House and HMRC
- Corporation Tax Return Work
- Advice on Extracting Company Profits Tax Efficiently
- General Day-to-Day Support
Agreeing Our Fees with You
New Clients
We always meet new clients either face-to-face or via a video call, so that we can discuss and understand your circumstances and provide information about our services and an all-inclusive fee quote. After this consultation, we will provide a written Service Proposal, including your quote, for your review.
Once you are happy to proceed, we will set out the agreed services and fee in our standard Engagement Letter, which serves as the contract between us. This document also provides a record of the required services and the agreed fee. Copies are sent out by post or email, and we require one copy to be signed by you and returned to us.
For regulatory purposes, we will also take suitable identification, such as proof of ID and address, at this early stage. After you have signed and returned the agreement, you will be a client of our practice and therefore receive our full client service, regardless of whether your year-end accounts and tax work are due yet.
Existing Clients
If you are already an existing client, the agreed fee will continue to apply until we discuss and agree on a new fee with you. Therefore, clients have peace of mind that they will only ever receive a bill for a fee that they have agreed to.
In case your circumstances change significantly, we will discuss and agree to any proposed fee change with you. We will fully explain any proposed fee change, which will account for inflation, and ask for your agreement to it.
Additional Services
Clients may also request additional services, such as:
VAT Compliance - from £60.00 per Quarter
PAYE Scheme/Payroll and CIS - from £5.00 per Month
Management Accounts - from £100.00 per Month
Business Plan - from £500.00
Fees include all-year-round general support as well as the specific services provided above.