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(Staff: This poll was reset) How much per month do you spend on accountancy services (in Euros)?
Thread poster: ProZ.com Staff

ProZ.com Staff
Local time: 21:31
SITE STAFF
Oct 27, 2010

This forum topic is for the discussion of the poll question "How much per month do you spend on accountancy services (in Euros)?".

This poll was originally submitted by Oliver Lawrence. View the poll results »



This poll was reset. View the correct poll results»



[Subject edited by staff or moderator 2010-10-27 13:57 GMT]


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Nesrin  Identity Verified
United Kingdom
Local time: 05:31
English to Arabic
+ ...
What scary amounts are these?? Oct 27, 2010

Why would a single freelancer hire an accountant on a monthly basis for such exorbitant fees? Or is this poll addressed at companies?
I have (or had, when I was a freelancer) an accountant who did my accounts once at the end of the tax year, for a fraction of the monthly amounts specified in that poll.


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Bart Vergauwe  Identity Verified
Belgium
Local time: 06:31
Member (2010)
English to Dutch
+ ...
would like to do it myself Oct 27, 2010

I am currently using an accountant but I would like to do it myself actually.

Is there any info on how to do this yourself?


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Victoria Burns  Identity Verified
United Kingdom
Local time: 05:31
Member (2007)
French to English
+ ...
I'm with Nesrin Oct 27, 2010

For the past 3 years since I started working freelance I've done all my accounts work myself. This year, for the first time, I've hired an accountant as a 'one-off' to complete my tax return at the end of the tax year, simply because I find it such a chore and also wanted the reassurance of having it done professionally. This still only cost me under £300, so I can't see how a freelancer could incur fees of thousands of pounds for accountancy alone.

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Claire Cox
United Kingdom
Local time: 05:31
French to English
+ ...
Me too Oct 27, 2010

I wondered if the figures were wrong and had too many noughts attached to them! I pay my accountant £300 a year to complete my tax return and for ongoing advice throughout the year and think it well worth the expense. I certainly couldn't countenance spending the figures mentioned here though!

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Rebekka Groß  Identity Verified
Local time: 05:31
English to German
Whoa! Oct 27, 2010

How did the asker come up with these figures?

I'm with Nesrin, too, I pay my accountant once a year for compiling my income statement and filling out the HMRC forms.


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Gianluca Marras  Identity Verified
Italy
Local time: 06:31
Member (2008)
English to Italian
strange amounts Oct 27, 2010

strange amounts indeed. By the way I spen MUCH LESS than 500 per month, but in Italy it is better to have the yearly figure.

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Oliver Lawrence  Identity Verified
Italy
Local time: 06:31
Italian to English
+ ...
PER YEAR! Oct 27, 2010

I obviously meant amounts per year, not per month. Mea culpa.

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Catherine GUILLIAUMET  Identity Verified
Local time: 06:31
English to French
+ ...
Incredible! Oct 27, 2010

Hi,
Those amounts are simply incredible !

Are they just a pure guess from the asker or are they reflecting the "real life"? But where in the World? On the Moon or Mars, maybe

In 28 years, I never went to an accountant and I did everything by myself.

In case of doubts, I called the Tax services for explanations. Never had any problems.

I prefer to use my money for more interesting and profitable activities.


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Jack Doughty  Identity Verified
United Kingdom
Local time: 05:31
Member (2000)
Russian to English
+ ...
Could the 0.9% explain? Oct 27, 2010

According to the poll, 0.9% of the 441 who voted so far, so I presume four people,
say they are spending more then EUR2000 per month on accountancy. How do they make a living?


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xxxInterlangue
Angola
Local time: 06:31
English to French
+ ...
< 2,000/YEAR Oct 27, 2010

... is what I pay to outsource accountancy, and it is worth every penny!

I used to do it myself when I first started as a self-employed freelancer, but soon realised legislation and rules change regularly here.
In 1995, I created my company and accountancy was just too complicated, with the usual frequent changes in rules and regulations.

My accountant takes care of the quarterly VAT + annual report (and accounts), tax return, annual list of clients (for VAT purposes), etc. He also deals with the tax administration when THEY make a mistake!

Over the years (18 so far), his guidance and advice have saved me much more than what his services cost me.


[Modifié le 2010-10-27 11:33 GMT]


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Colin Ryan  Identity Verified
Local time: 06:31
Italian to English
+ ...
Oliver, man, you have created a monster! Oct 27, 2010

I think you need to ask staff to intervene and reset the poll, substituting "yearly" for "monthly"...

In Italy the "going rate" seems to be around 1,000 euro a year for a decent accountant, but I've heard of people paying much less. I've even heard of people doing their own accounts here, which in Italy is really a sign of self-confidence bordering on hubris. Anyone who can navigate their way through the Italian tax system is wasting their time working as a translator, if you ask me...


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neilmac  Identity Verified
Spain
Local time: 06:31
Spanish to English
+ ...
Not sure Oct 27, 2010

In Spain, I have a "gestor" who does my VAT and Income Tax returns quarterly and yearly.
I think I pay him about 300-400 euros a year, which is apparently quite cheap, as I'm told that the usual rate is about 50€ month upwards. I have a long standing, friendly relationship with them, as they were they first "gestoria" I was introduced to by my boss in my first TEFL job years ago, when I needed to legalise my situation, and have been with them ever since. They have a lawyer too, should I ever need one, in fact I occasionally get casual legal queries answered by them ad hoc as part of the service.

However, I am told that many such agencies often attempt to take the client for as much as possible, and have heard of colleagues paying what seem to me very large amounts (but then I'm a thrifty Scot).

I have a colleague who uses the official online tax forms from Hacienda and he always ends up paying a fair whack more than I do, even on the same earnings, because here are always little corners to cut and grey areas where you can claim some kind of exemption IF YOU KNOW what they are and how to apply them, so I am happy to stay with my gestor, who knows all the ropes and can explain the mysteries of the Spanish taxation labyrinth...


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ChrisGT  Identity Verified
Canada
Local time: 00:31
Member (2008)
English to French
+ ...
I don't have an accountant, but... Oct 27, 2010

I do my own monthly accounting... which is ALWAYS late!!
But I do have an accountant to prepare my income tax every year and it does cost me around $1300 CAD per year.

But the monthly figures shown in the poll are exorbitant to say the least...


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Heinrich Pesch  Identity Verified
Finland
Local time: 07:31
Member (2003)
Finnish to German
+ ...
Only first year Oct 27, 2010

When I started as freelancer, I had an accountant, but after the first year I noticed it is not worth to pay for. Finnish tax regulation is rather simple for small business, and if I make a mistake I always can correct it later.

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