In short — as of August 2026: A standard Portugal Lda accounting retainer, around €249/month (ex-VAT), covers the recurring work: ongoing bookkeeping, monthly SAF-T invoicing files, periodic IVA return preparation and filing, tracking IRC payments on account and filing the annual Modelo 22, the annual IES declaration, preparing annual accounts, and routine correspondence with the Autoridade Tributária. What it typically does not include: payroll (usually ~€25/month per employee), the RCBE filing (a one-off done at incorporation, not a recurring line), one-off dossiers or company amendments, and — importantly — the actual tax you owe, which is a separate payment, not an accounting fee. A freelancer retainer is lighter and cheaper, around €129/month, because a sole trader doesn't carry the same statutory obligations as a company.
"How much is accounting going to cost me?" is the wrong first question when you're comparing firms — the right one is "what does that monthly number actually buy?" Two accountants quoting €249/month can mean very different things by it, and the gap usually shows up later as a surprise invoice. This guide breaks down what a standard Portugal company retainer covers, what's billed separately and why, and where founders most often get caught off guard.
Why "How Much" Is the Wrong First Question
A monthly accounting fee isn't a flat subscription to "all things tax" — it's payment for a defined, recurring scope of work. Cheaper quotes sometimes look attractive until you discover payroll, one-off filings or even routine correspondence are priced separately and add up fast. The useful comparison isn't the headline number; it's the scope behind it, matched against what your company will actually need in year one.
What's Included in a Standard €249/mo Lda Retainer
For a typical Unipessoal Lda or small Lda, a retainer around €249/month (ex-VAT) normally bundles:
- Ongoing bookkeeping. Recording invoices, expenses and bank movements into organised accounts throughout the year, not compiled retroactively.
- Monthly SAF-T (PT). Generating and submitting the monthly invoicing SAF-T file, due by the 5th of the following month.
- Periodic IVA returns. Preparing and filing your IVA return on the applicable cycle — quarterly for most small companies, monthly above €650,000 turnover — see our IVA in Portugal guide for the full mechanics.
- IRC and the Modelo 22. Tracking payments on account through the year and preparing and filing the annual corporate tax return.
- The IES. Preparing and submitting the annual Informação Empresarial Simplificada by the 15 July deadline.
- Annual accounts. Preparing the statutory annual accounts that sit behind the IES.
- Correspondence with the AT. Routine queries, notices and clarifications from the Autoridade Tributária handled as part of the service, rather than billed by the email.
This is the recurring engine room of running a compliant company — see our first year of running a company guide for how these pieces fit into the calendar.
What's Billed Separately (and Why)
A few things sit outside a standard retainer, and a transparent firm will tell you this upfront rather than let it surface as a surprise invoice:
- Payroll — typically ~€25/month per employee. The moment you put someone on payroll (including, in some structures, yourself as a remunerated gerente), it's a distinct piece of work — IRS withholding calculations, Social Security processing and payslips — priced per head, not folded into the base fee.
- RCBE filing — a one-off at incorporation. Registering your beneficial owners is done once, at company formation, and is priced as a setup task rather than a recurring monthly item. (Note: the annual confirmation of an unchanged RCBE by 31 December is a light task some firms fold into the retainer and others bill lightly — confirm which applies to yours.)
- One-off dossiers and amendments. A bespoke financial dossier for a bank or investor, amending your articles of association, or changing your registered address are all one-time pieces of work, quoted separately.
- The tax itself. This is the one people most often conflate: your accounting fee pays for correct, on-time preparation and filing. Any IVA, IRC, municipal derrama or Social Security actually assessed is a payment to the Autoridade Tributária or Segurança Social — not part of your accountant's invoice. Budget for compliance fees and tax liabilities as two separate lines.
Included vs Extra: At a Glance
| Item | Usually included in the €249/mo retainer | Usually billed separately |
|---|---|---|
| Ongoing bookkeeping | Yes | — |
| Monthly SAF-T invoicing file | Yes | — |
| Periodic IVA return preparation & filing | Yes | — |
| IRC payments on account tracking + Modelo 22 | Yes | — |
| Annual IES declaration | Yes | — |
| Annual accounts preparation | Yes | — |
| Routine AT correspondence | Yes | — |
| Payroll | — | ~€25/mo per employee |
| RCBE filing at incorporation | — | One-off, at setup |
| Company amendments / bespoke dossiers | — | One-off, quoted per job |
| Actual IVA / IRC / derrama / Social Security owed | — | Paid directly to AT / Segurança Social |
Freelancer Retainer vs Company Retainer
It's worth contrasting this with the freelancer retainer, since founders sometimes compare the two directly and wonder why a company costs more. A freelancer retainer runs around €129/month and typically covers recibos verdes support, the quarterly Social Security declaration, periodic IVA if registered, and the annual IRS filing. It's lighter because a sole trader on the simplified regime carries fewer statutory obligations — no mandatory organised accounts, no SAF-T, no IRC, no IES. A company retainer costs more because the company itself carries more: see our cost of starting a business in Portugal guide for how this fits into the wider budget.
Case study — Yusuf, budgeting year one for a small e-commerce Lda. Yusuf incorporated a Unipessoal Lda in Porto to run a small online retail business and budgeted €249/month for accounting — €2,988 for the year — assuming that number was the whole story. For the first eight months it was: bookkeeping, IVA, the accountant tracking his IRC position, all inside the retainer. In month nine, growth meant he hired his first part-time employee to handle customer support. The retainer didn't stretch to cover it — payroll came in as a separate ~€25/month line, backdated to the hire date, plus a one-off setup step to register the new employee correctly. It wasn't a large shock in euro terms, but it was the moment Yusuf understood the distinction the hard way: the retainer covers the company's own recurring compliance, not everything that changes as the business grows. He now treats payroll, one-off dossiers and tax liabilities themselves as separate budget lines from day one, rather than assuming the monthly fee is a ceiling.
Things to Watch
- Assuming the monthly fee includes payroll. It almost never does — confirm the per-employee rate before you hire.
- Confusing the accounting fee with the tax owed. Your retainer buys correct filing; IVA, IRC and Social Security liabilities are paid separately.
- Not asking what "one-off" work costs upfront. Amendments and bespoke dossiers should be quoted in advance, not discovered on an invoice.
- Comparing a freelancer quote to a company quote. They cover fundamentally different scopes — a lower number may simply mean less is included, not a better deal.
- Assuming RCBE is a recurring charge. The filing itself is a one-off at incorporation; only the light annual confirmation recurs.
Frequently asked questions
Because a company carries statutory obligations a sole trader doesn't — organised accounts, monthly SAF-T, IRC and the IES — all of which take real, recurring accountant time.
Yes. Ask specifically what's included in the monthly fee versus what's billed as a one-off or per-employee, and get it in writing before you compare prices between firms.
Payroll scales per employee, so yes — but it's usually a small, predictable increment (~€25/month per head) rather than a renegotiation of your whole retainer.
Comparing accounting quotes in Portugal only works once you're comparing the same scope. Ask what's inside the number, confirm payroll and one-off pricing before you need them, and keep tax liabilities budgeted separately from the accounting fee itself — do that and the €249/month figure stops being a mystery and becomes a predictable line in your first-year budget. For the fuller obligations calendar behind this fee, see our first year of running a company guide.
Want a clear, itemised quote before you commit — accounting, payroll and one-offs spelled out separately? Explore our company setup services or see our company setup hub — GrowIN Portugal prices transparently, with no surprise invoices.