CloudBook Accountants Prices Increase
From April 2023 CloudBook Online Accountants’ prices are increasing by 10%. This is their first increase in pricing since the accountancy firm was formed in 2013. The reasons for the increased accountants pricing are explained below. You can see our accountants prices here.
10 years of current prices
Our current prices were set when we started CloudBook Accountants in 2013. During the 10 years since then, we’ve managed to absorb increasing costs and tax rates by finding more efficient ways of working which has allowed us to grow the accountancy business.
The past year
However, inflation has been about 10% for nearly one year, interest rates have increased by at least 3.9% in just over one year, and corporation tax is increasing in April 2023. If we tried to grow our business enough to cover these additional costs, it would be detrimental to our quality of service. As such, we need to increase our accountants prices fees to keep our business model sustainable.
The price increase
So we’ve taken the difficult decision to increase all of our prices by 10% from 1st April 2023, and we gave our clients two months’ notice of this change. Any software recharged will only increase if your supplier increases their online accounting price. All invoices from 1st April 2023 will reflect our fee increase.
An pricing example
| Example package prices | Current £ | New £ | Change £ |
| Annual+ Company | 50.00 | 55.00 | +5 |
| Xero Starter (discounted) | 11.90 | 11.90 | +0 |
| Subtotal | 61.90 | 66.90 | +5 |
| VAT | 12.38 | 13.38 | +1 |
| Total | 74.28 | 80.28 | +6 |
New clients pricing
If you are a new client signing up with CloudBook Online Accountants before April 2023, you will pay the current pricing for your first 12 months with us, then you’ll move onto our new prices.
Your options
We understand that these are challenging times for everyone and any increase to your costs can be difficult to deal with. So please get in touch if you’d like to discuss what options you may have to reduce your costs, such as changing your accountancy package (and the price you pay) or software supplier.
In arrears
Some of you are paying for our services in arrears. For example, if you started paying us the monthly accounts price X months after the start of your accounting year, our invoice will state that the accounts price is for the month of trading X months ago. If so, you are welcome to pay off the arrears (X months times by the monthly accounts price) at the current price by 31st March 2023. Otherwise the new price applies to all payments from 1st April 2023.
Annual invoicing
Some of you are paying for our services annually. If you provide us with your accounting records by 28th February 2023, giving us the requested 1 month’s notice, this will be invoiced at the current price. Any annual records provided after this date, may be invoiced at the current or new price, depending on when we upload the accounts.
Quality of service
We hope that you find the increase to CloudBooks Online Accountants’ prices acceptable and necessary to maintain our quality of service. As well as the reasons stated above, we have also made various improvements to our services recently, such as providing you with quicker response times, annual reviews with accounts, quarterly reviews with VAT returns, and an improved website with useful guides and frequently asked questions.
CloudBook Accountants Prices Questions
Please get in touch if you have any concerns, questions or suggestions.
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