Accountancy fees?

[Moneyspider]

Hi, I started freelance work last year & will have to do accounts & form 11E (I think!) by end of October this year and was wondering what the cost of an accountant would be to do this? Very simple business consisting of 12 invoices for freelance work, no sales, some expenses e.g. travel and no other income. Would it be easy to tackle this myself (I haven't looked at the forms yet) if employing an accountant is too expensive? Profit is less than 20K so can't afford much!! Any advice appreciated - thanks!

 

[sartay]

You could probably get someone to do that for €200 - €250. I think it's worth getting an accountant personally - it's always worth getting a bit of advice to make sure you are claiming all your tax credits etc. And the fee that you pay to them will be tax deductible anyway, so if you are being taxed at 41%, the real cost of an accountants fee to you is about half of what you are quoted anyway.

 

[KDA man]

Agreed, what might take you 2 days do, may take the accountant 2 hours. So it really depends on how busy you are. Also, the more organised you are, the cheaper the fee. If you have the time to do it, look up tax credits on www.revenue.ie to ensure you don't miss any.

Tony
[email protected]
www.kdaaccountants.ie