How much is your time worth ?
Time.
It’s the one thing we can’t increase so using it effectively is vital, no more so than in your sector.
And essentially that’s what your investing in.
Yourself, your time and more time to do more good for others.
You’re not investing in my time so I don’t calculate your investment by an hourly rate as that’s not right and it’s certainly not fair.
So how do I work out your investment ?
First I get to know you
I can’t help if I don’t
get to know you first
Well, to start with I want to be transparent so it very much depends upon the tasks I can take away from you and your care-centric business to free up your time and then how I can support you to build and grow your vision.
I do this by asking about your important life goals in the short, medium and perhaps even longer term.
Essentially it’s like starting out on a journey.
Where are you now, what’s the plan to get there and what will it look like when you arrive ?
(click the image on the right to see it larger)
What influences my fee ?
There are quite a few factors that influence the fee you will be charged so let’s cover them here as nothing should be a surprise.
YOUR BUSINESS TURNOVER
Your turnover or sales is often a reflection on the complexity of your business and can determine what method of accounts production we need to use to remain compliant with HMRC etc.
As you can imagine there is a whole world of difference between a business turning over say £100,000 and one turning over £5 million.
BOOKKEEPING METHODOLOGY
How are your records maintained and by whom ?
How many transactions run through your bank accounts and how many accounts do you operate ?
Is each of these bank accounts reconciled to the trading records every month ?
Are you VAT registered ?
If you utilise the services of a bookkeeper or myself then that will be reflected in the fee I need to charge for the accounts.
There’s an Institute of Bookkeepers for a reason as it’s not easy so doing it yourself offers a far greater risk of error, more checking and reviewing to be done and a greater risk of things going wrong that can be extra costly to put right.
IF YOU ARE VAT REGISTERED
VAT is amongst the most complex tax we have in the UK and it pays to get it right first time every time.
If I am involved with the VAT return in review, preparation and submission you can be satisfied that all is accurate and open to scrutiny should the taxman come calling.
The level of complexity goes up a notch or two if you are VAT registered and so does my fee.
THE NUMBER OF STAFF
Running payroll is a pain as well as keeping on top of the ever-changing legislation around minimum wages, holiday entitlements etc.
The more staff you have the more complex it becomes and my fee reflects the number of employees and the extra services required such as things like auto enrolment workplace pensions and administration and preparing the necessary for benefits in kind.
YOUR BUSINESS LEGAL STATUS
The legal status of your business makes a difference as when a Limited Company there’s an extra set of accounts required for Companies House and a far more complex Tax Return.
Besides that there’s the annual Confirmation Statement and usually a self assessment Tax Return for the Director / Shareholder also.
BUSINESS GROWTH SERVICES
You ought to be tracking what your care business is doing each and every month and staying on track towards your goals.
Whether this is the briefest of monthly reports to help you tuck away the tax or a more indepth commentary of your progress.
Reports and meetings, either built into the monthly fee or as one-off cost influence your investment.
ONE OFF FEES
Not everything can be charged out as part of your monthly fee and where there is the need to do something outside the scope of our agreement I charge an additional fee.
This might be to set you up with HMRC for a new tax or preparing a cashflow forecast for a funder or lender.
Whatever it is I will always agree this with you first before any work is undertaken so there is never a surprise fee.
COMPANY SECRETARIAL SERVICES
Companies often need to make changes, such things as changing the registered office, changes of Directors and Shareholders or simply ensuring that each and every decision is minuted as Board Minutes and has the necessary agreements of shareholders or Directors in place.
This can part of a monthly fee or as a stand alone one-off.
So what does your investment look like ?
Now you know what would influence the monthly fee here is a calculculator.
If you’re here to find the cheapest accountant then we’re probably not the right fit for each other.
It’s not about crunching the numbers for as little as possible, for me it’s about investing myself in your business, your cause and delivering real value.
I’m all about supporting you whilst you support others so my fees have to be where they are so that I can afford to care about you.
With this thought uppermost in your mind use the calculator below to see how much your investment ought to be into the finance function of your business.
And then get in touch….