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Financial Planning at Kirkwood Wilson

Bucking the trend of rising accountancy fees

A recent report has suggested that nearly a quarter of accountancy firms are planning to raise their fees in light of the economic recovery. Proving that Kirkwood Wilson Accountants are unafraid to do things differently for the good of our clients, we are happy to announce that our fees are remaining firmly rooted.

New research from Bloomsbury Professional has found that 24 per cent of surveyed accountancy firms are contemplating raising their client fees as a direct consequence of the UK’s economic upturn. That represents a seven per cent increase on last year’s figures and has led to some observers to claim that it signals a growing confidence in the sector.

“The threat of corporate cost cutting and concern that clients would be unwilling to accept fee increases had previously discouraged firms – this now appears to be changing,” Martin Casimir, managing director of Bloomsbury Professional told Economia.

“The prospect of fee rises suggests that there is less intense competition among firms; the improved health of the economy means more new businesses, more investment, more deals and so more work. However, there are still a large number of accountancy firms that are quite tentative about raising rates and a majority of firms are still looking at trimming unprofitable areas of their work,” he added.

Fixed fees reward loyal customers

However, Caroline Wilson, Managing Director of Kirkwood Wilson Accountants, strongly disagrees and argues that freezing fees at current rates shows greater confidence in the accountancy bounce-back than a knee-jerk hike, as well as handing on a reward to loyal customers who have stuck by their accountants through the turbulent recession.

Caroline said: “Whilst we can certainly understand why nearly a quarter of accountancy firms might be looking at raising their fees, it certainly isn’t something that Kirkwood Wilson is considering any time soon. Rather than hitting our clients in the pocket, now that the economy is showing green shoots of recovery, we are more concerned with saving them money through effective tax planning and streamlining their financial systems.

“We want to pass on the rewards to our clients for staying with us through the difficult years of the recession. Our transparent fixed fee pricing structure will remain the same, not out of tentativeness, but because we are 100 per cent confident that our excellent services already pay for themselves,” she added.

For more information about Kirkwood Wilson Accountant’s accountancy services please contact us on 01704 546000.

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