Re: Accountant's fees for setting up LLP

Keith wrote:
In message <PJKdnWsbGMG420rYnZ2dnUVZ8tqqnZ2d@xxxxxxxxxxxxxx>, Tracey <fjfjslfjslfjslfds@xxxxxxxxxxxxxxxxxxxxx> writes
Could I ask what might be deemed acceptable fees for arranging the formation
of a Limited Liability Partnership?

The accountant has paid around £180 for the company formation disbursement,
but on top of this has charged me £900 for his time and for discussing the
accounts (half an hour's meeting).

The company has two partners and the structure is simple. Very simple. The
business has only just started to trade and is very very straightforward.
No borrowing and nothing out of the ordinary.

Would appreciate any advice.

It sounds a lot of money, for company formation and more specifically for advice.

I would write to him, expressing your dissatisfaction with these costs and asking him to justify them.

Bear in mind, however, that his professional indemnity insurance will have doubled his hourly fee.

Out of interest how much is professional indemnity insurance for an accountant.
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