How Much Does It Cost To Hire An Accountant For A Small Business?

Managing a business is a lot of work, whether it’s big or small, and it’s often one of the hardest parts of running a business. It’s also the most important part, too. Doing everything yourself is admirable but sometimes, it’s a good idea to get advice from a certified accountant.

Hiring an accountant might seem like a luxury, especially to small business owners out there who already have set budgets, but it might be the right choice. For you and for your business. More so if you’ve been struggling to stay on top of your books. Having an accountant to seek expertise and help from might be your best option and it might even help you to worry less.

How Much Accountants Cost

The fees and services of accountants in the UK can vary a lot, many dependent on multiple factors which is why it’s important that as a business owner, you talk to several accountants and compare their quotes and services.

When accountants consider a fee to give to business owners, they’ll take into account:

  • The size of the business – the amount of employees your business has.
  • The scale of your business – the activity you have every year.
  • How organised your books are.
  • The annual turnover of the business.

It’s important to remember that usually, smaller businesses have fewer transactions to manage which can often end up in a lower overall accountancy fee.

Accounting for Small Businesses

When we talk about small businesses, this can be anything from a one-man-show or self-employed contractor to a limited company that has just reached 50 employees. Most small businesses hire accountants to help with the taxes as many tax return accountants have a one-off fee for the year. Of course, unpredictable income revenue can alter the accountant fee because of the complexities of documenting it.

Accountants that are hired by small businesses can often have small business packages that they offer when you want additional services other than just tax returns. Such packages include a multitude of accounting services to the benefit of the businessowner. For instance, bookkeeping, regular day-to-day accounting advice, corporation tax returns, and advice on tax avoidance legislation (IR35) are just a few of the services they might include in such a package.

According to Checkatrade, the usual price range for a tax return accountant is between £150 to £250. The accounting firms that offer packages often do so as monthly fees which, again is dependent on the size of your business, range in price from as little as £60 up to £250.

Other Ways Of Paying Accountants

If you don’t, or perhaps if you can’t, pay accountants per month or annually, you can arrange an alternative. Accountants sometimes have flexible options to be paid. You might want to pay them hourly for whatever service you’re getting for your business, whichever one it needs. That could be one service, or it could be three. It is worth asking when you are considering using an accountant how you can pay for their services.

Some services are higher in fees than others – bookkeeping services often range from £25 to £35 per hour whereas more specialised services like business planning expertise, start from £125 for the hour.

Do I Need An Accountant?

Not necessarily. However, it doesn’t hurt to have one on side. Proactive accountants who just want to help your business grow do genuinely care about the success of your business and the management of it. Maintaining your business, particularly those important financial documents, is tough enough on your own, having an accountant really could be the answer for you.

They can help you tackle any complex financial matters – invoices, tax liabilities, annual reports, tax-deductible expenses. If just seeing that overwhelms you, don’t worry. That’s what your accountant is for!

Why Rivington Accounts Might Be Right For You

Rivington Accounts, one of the North West’s leading accountants for business growth, sincerely care about both the financial and growth success of your business. Think of us as a friendly, approachable extension of your team.

The services we provide to our clients are customised, proactive. Developing solutions we know will help to enhance the way you do business. We just want to help your business thrive and in doing so, we collaborate with you to get to know you and your business. The things that are important to you, your goals.

By growing your business, we can offer you something that you might have been missing out on – time. Time with your friends, with your family, time to fulfil those other commitments you have.

We build honest relationships with our clients because it’s our aim to support you and challenge you in achieving your goals. When we give you advice, it is tailored specifically to your unique business wants, all in a friendly environment so you can thoroughly discuss and consider your options.

Reach Out to Us

If you’re uncertain about where to go next or how to develop your business further, just reach out to Rivington Accounts!

Financial freedom is important to many business owners and maintaining a healthy work/life balance can sometimes be challenging. We understand. So if you’re too busy to deal with finances, are struggling, or are just dissatisfied with your current accountant, let us help you.

Send us an email via or call 01257 42 92 52 to speak directly to one of our team.