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  • Tax

    BTL Accounts - approximate annual cost?

    Hey Folks,

    Can you please advise how much you paying for your BTL business accounts services annually? (worth to mention number of properties u manage and etc. for general idea)

    Also any tips, advise welcome.

    Thanks in advance
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    Why don't you say how many properties you are looking costs for
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    A business accounts fees is not linked to number of properties, but purely on the number of transaction and type. Often it cost more if you or you tenant pays cash into the account. 
    For most business accounts the fees will be quite clearly labelled on the banks web site.
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    My question is simple- I am trying to understand what is normal/average cost for accounts. I am not asking to reveal your financial secrets here Smile I heard people paying thousands for couple properties, but it doesn’t make sense to me- pay for what? to fill about 50 records of expenses and annual return every year? (referring here to fully managed service). If you have agency which fully manages properties it charges you £70 per annum for single property..
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    I pay £1500 per year for all personal and company accounts and have 5 properties and a part time job.

    Now, this seems high but I really pay for their advice. If a tricky investment opportunity comes up I can rely on their (free) tax and investment advice and because of that they are worth their price.

    It’s a bit like that with solicitors too. You are not paying for the paper but hopefully the ongoing advice.
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    Confusing post. OP refers to 'business accounts' but I think he means company accounts. They also refer to a fully managed service but I'm not sure what this has to do with business/company accounts.

    Anyway I have 14 properties and I get charged £1500 + VAT. I suspect this figure wont change as I continue to grow the portfolio so on a per unit basis its an insignificant sum

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    Thanks for replies, I got bigger picture now.

    Accounts cost could be different if you self manage tenants and properties and if using agency which does for you full management.

    Think about it- agency already sends income/expenditures statements and etc. So at the end of the year real accounts related job for accountant is annual tax return only.. it depends on business model and your cash flow and how being paid in/out..

    In my instance is all digital- I am trying to avoid cash completely.. I am asking here because what accountants trying to charge is completely nonsense, moreover- we living in digital world, there is tones of information if you not lazy.
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    Why would self management cost you more in accounting fees than if you did full management with an agency?


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    If you keep very accurate records, your accounts will cost less.  If you are not a good record keeper and/or you have multiple income streams, it will cost more.The more asking for information the accountant has to do, the more it will cost.

    A basic tax return, just filling the form in, costs around £250.  For larger portfolios and more complex financial situations and company accounts, it's really "how long is a piece of string?".

    We have 15+ properties (as sole trader) and my accountant charges me £1250.00 plus VAT for doing my accounts, but he is also always there to guide and advise and does not charge extra due to the long-standing and on-going relationship.

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    Vaness is totally correct, I pay about £650 a month this is for everything, including my limited company, they do all book keeping vat etc. they also look after the propertys in double figures. But last 2 refurbs I gave them a bag of receipts for each, they always laugh and don't mind. If I was more organised could drastically reduce it, but im not that's life. So I pay a premium

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    Just under a grand for my property accounts and my separate company account. As mentioned above, no. of properties is irrelevant to the price.

    Slightly cheaper than the rest as he is self-employed, no big company, overheads, etc.

    Best accountant i've ever had.

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