The short answer
In Malta, a small business can expect to pay from €150 a month for monthly bookkeeping, VAT returns and annual accounts, with payroll added at €40 a month for the first employee and €20 for each additional one. Full monthly management accounts, with KPIs and a monthly review, start from €500 a month, with all the bookkeeping included. Management accounts with ongoing advisory support are quoted individually, as a fixed monthly retainer.
If your books are behind, the catch-up work is normally billed separately. I charge €50 an hour for it, and agree an estimate before starting.
The figures below are my own published fees as a Warranted Accountant, so you can see exactly what each price includes.
Want a figure for your own business? The fee calculator works out an indicative monthly fee from your transactions, VAT status, payroll and the reports you need, with the workings shown.
Accountant fees in Malta at a glance
| Service | Who it suits | Price | How it's charged |
|---|---|---|---|
| Compliance only | You keep your own books; I prepare and file the returns | €200 per quarterly VAT return | Per return; self-employed tax return €250 a year |
| Monthly bookkeeping and compliance | Sole trader or micro company | from €150 a month | Fixed monthly fee |
| Monthly bookkeeping and compliance | Small company, VAT registered | from €250 a month | Fixed monthly fee |
| Payroll | Businesses with employees | €40 a month + €20 per extra employee | Added to the monthly fee |
| Monthly management accounts | Owner who wants to run the business on monthly numbers. All bookkeeping included | from €500 a month | Fixed monthly fee |
| Management accounts & advisory | Growing business that needs forecasts and decisions, not just records | Quoted individually | Fixed monthly retainer |
| Catch-up work | Books that are months or years behind | €50 an hour | Hourly, estimate agreed first |
The monthly fees are fixed and agreed in writing before any work starts. The fee moves with transaction volume, VAT status, payroll and the number of companies, not with how often you call.
What the monthly fee includes, and what costs extra
A cheap quote and a fair quote can look the same until you compare what is inside them.
| Included in the monthly fee | Charged separately |
|---|---|
| Monthly bookkeeping and bank reconciliation | Catch-up work on books that are behind (€50 an hour) |
| A one-page monthly summary of how the business is doing | The statutory audit, which an independent auditor carries out and charges for |
| Quarterly VAT returns, prepared and filed | One-off projects: company set-up, restructuring, due diligence |
| Annual financial statements under GAPSME | Advisory work: forecasts, budgets, bank packs |
| Answers to your questions by phone or WhatsApp |
If a quote doesn't say which column each item falls in, ask before you sign.
Upgrading to management accounts. The management accounts option, from €500 a month, is all-inclusive: it covers all of your bookkeeping and everything above, plus a full monthly pack: profit and loss against last year and budget, balance sheet, aged debtors and creditors, VAT position and three to five KPIs for your industry. It also includes a monthly meeting to go through the numbers and decide what to do about them. What a good management accounts pack includes.
What drives the price
Five things decide where your fee lands:
- Number of transactions. This is the biggest factor. A transaction is any line that has to be recorded: a sales invoice, a supplier bill or a bank payment. See the worked example below.
- VAT status. Article 10 registration means quarterly VAT returns; Article 11 means one annual declaration.
- Payroll. Each employee adds monthly FS5 submissions and year-end FS3s and FS7.
- Number of companies. A group with intercompany balances takes more time than one trading company.
- How the records arrive. Bank feeds and invoices from accounting software are quick to process. A shoebox of receipts is not.
How transaction volume changes the fee
As a starting point, about 100 transactions a month (invoices issued, bills received and bank payments, counted together) costs around €150 a month, or €1.50 per transaction.
The fee doesn't simply multiply from there. Once the books are set up, extra transactions are mostly repetition: the same suppliers, the same customers, the same bank rules. So each additional band of transactions is charged at a lower rate:
| Transactions a month | Rate per transaction |
|---|---|
| First 100 | €1.50 |
| 101 – 250 | €1.20 |
| 251 – 500 | €1.00 |
| Above 500 | €0.80 |
Worked examples
| Transactions a month | Workings | Monthly fee | Average per transaction | If simply multiplied at €1.50 |
|---|---|---|---|---|
| 100 | 100 × €1.50 | €150 | €1.50 | €150 |
| 250 | €150 + (150 × €1.20 = €180) | €330 | €1.32 | €375 |
| 500 | €330 + (250 × €1.00 = €250) | €580 | €1.16 | €750 |
| 1,000 | €580 + (500 × €0.80 = €400) | €980 | €0.98 | €1,500 |
A business with 500 transactions a month does five times the bookkeeping of one with 100, but pays about four times as much (€580 instead of €150), because the work gets more efficient as it repeats. Payroll and extra companies are priced on top. If you choose management accounts (from €500 a month), the bookkeeping is already included in that fee. The exact figure is fixed in writing after a short look at your records.
Catch-up work: what it costs if your books are behind
Catch-up work means bringing old records up to date: entering transactions, reconciling the bank, sorting VAT and preparing anything overdue. Every backlog is different, so I charge it by the hour at €50, after looking at the records and agreeing an estimate with you.
The biggest factor is not how far behind you are, but how the records are kept. Here is the same business, eight months behind, in two states:
| Item | Organised records | Receipts in a box |
|---|---|---|
| Business | Small company, VAT registered | Small company, VAT registered |
| Months behind | 8 | 8 |
| Records | Bank statements and invoices in accounting software | Paper receipts, invoices spread across email |
| Hours per month of backlog (estimate) | 1.5 | 4 |
| Catch-up hours | 8 × 1.5 = 12 | 8 × 4 = 32 |
| Catch-up cost at €50 an hour | €600 | €1,600 |
| Then, monthly fee | €250 | €250 |
| First-year total (catch-up + 12 × €250) | €3,600 | €4,600 |
Hours per month are illustrative estimates; the real figure comes from looking at your records. Once you're up to date, the fixed monthly fee covers everything in the first column of the table above.
Fixed monthly fee or hourly billing?
| Question | Fixed monthly fee | Hourly billing |
|---|---|---|
| You know the cost in advance | Yes | Only an estimate |
| Calling with a question | Included | Often adds to the bill |
| Best for | Ongoing bookkeeping, VAT and accounts | One-off or unpredictable work, such as catch-up |
That's why I use both: a fixed fee for the routine work that happens every month, and hourly billing only for catch-up work, where nobody can know the size of the job until the records are opened.
Red flags in a cheap quote
- Annual-only service. Your books are done once a year, so you never know how the business is doing until it is too late to act.
- No VAT returns in the price. The low figure covers the accounts, then each quarterly return is billed on top.
- No written scope. If what's included isn't written down, the extras usually appear on the invoice.
- You never speak to the qualified accountant. Your file is handled by a junior, and the warranted accountant only reviews at the end.
- Deadlines missed before. Late VAT returns and tax filings carry penalties and interest that quickly wipe out any saving on the fee.
Questions to ask before you hire an accountant
- Is the fee fixed, and what exactly does it include?
- Are VAT returns, payroll and the annual accounts in the price?
- Who will actually do the work, and are they warranted?
- How quickly will I see my numbers after each month ends?
- If my books are behind, how will the catch-up be priced, and will I get an estimate first?
- What notice do I need to give if I want to leave?
Frequently asked questions
How much does an accountant cost for a small business in Malta?
For monthly bookkeeping, VAT returns and annual accounts, expect from €150 a month for a sole trader or micro company, from €250 for a small VAT-registered company, and payroll adds €40 a month for the first employee and €20 for each additional one. Full monthly management accounts, with KPIs and a monthly review meeting, start from €500 a month with all bookkeeping included.
How much does an accountant charge per hour in Malta?
Rates vary by firm and seniority. I charge €50 an hour, and only for catch-up work on books that are behind; routine monthly work is on a fixed fee.
Is the audit included in the accountant's fee?
No. Maltese companies must have their annual accounts audited by an independent auditor, who charges separately. A good accountant keeps the books audit-ready, which keeps the audit shorter and cheaper.
How much does it cost to catch up on bookkeeping that is months behind?
It depends on how the records are kept. As an example, eight months of backlog for a small VAT-registered company might take 12 hours with organised records (€600) or 32 hours with paper receipts (€1,600) at €50 an hour.
Is a fixed monthly fee better than paying by the hour?
For ongoing work, usually yes: you know the cost in advance and calling with a question doesn't add to the bill. Hourly billing makes sense for one-off or unpredictable work, such as catch-up.
Important. This article is for informational purposes only. Prices are DM Accounting's published fees as of October 2026 and are a starting point: the final fee is agreed in writing after a short call about your business.