How much are people paying for Tax Returns?
Discussion
DoubleSix said:
Time, and discharge of liability are the reasons I get someone else to do it. I probably could do it myself...
So, back to the original question?
My point is 'simple' could mean absolutely anything and giving figures is pretty pointless.So, back to the original question?
Edited by DoubleSix on Friday 17th August 17:27
I know people who pay around £200 to have them completed by small firms (who do a good job).
You really shouldn't be paying more than about £500 for what I would consider a simple return.
You need to explain in a bit more detail the type of information that you normally include in the return each year -
how many sources of income have you got?
what is the nature of those sources (employment/self-employment/investment income/capital gains etc)?
what types of allowance claims do you make over and above the normal personal tax allowance?
how many sources of income have you got?
what is the nature of those sources (employment/self-employment/investment income/capital gains etc)?
what types of allowance claims do you make over and above the normal personal tax allowance?
I'm well aware that circumstances will have a bearing on cost.Still, I've had a number of quotes and was just wondering what a range of PHers are currently paying, not difficult really.
Sumo and Raptor have provided a scale and I can place myself on that scale without going into loads of detail on here....
cheers
Edited by DoubleSix on Saturday 18th August 08:37
Your circumstances may bear no relation to the OPs in any way.
If an individual's affairs are faily basic - say a main salary plus a little bit of investment income (interest, dividendsn etc) - you might be looking at under £100.
If an individual's affairs are complicated - perhaps requiring the completion of a sole trader set of accounts, or partnership accounts. Or perhaps the individual has rental income, or substantial dividends, or mutiple pensions, or a Capital Gains Tax computation to work out, or a combination of some or all of the above - you could be talking well over £1,000.
If an individual's affairs are faily basic - say a main salary plus a little bit of investment income (interest, dividendsn etc) - you might be looking at under £100.
If an individual's affairs are complicated - perhaps requiring the completion of a sole trader set of accounts, or partnership accounts. Or perhaps the individual has rental income, or substantial dividends, or mutiple pensions, or a Capital Gains Tax computation to work out, or a combination of some or all of the above - you could be talking well over £1,000.
kiwifraser said:
Eric, a good point well made. My return is for an individual with what I would guess is a simple calculation for an accountant of incomes, and various business expenses. To me the £100 is money well spent, as it's all a bit beyond me :lol:
Sounds like your accountant prepares a small sole trader set of figures for you and inserts those figures on the return and not much else.£100 is probably enough for a service of that nature.
I work for a largish independent firm and although not in the tax department, the range of figures noted above appear to be in line with what we seem to charge.
Personal tax return fees, particularly if it is a simple return, can be skewed to varying degrees if your accountant does other work for you of course.
Personal tax return fees, particularly if it is a simple return, can be skewed to varying degrees if your accountant does other work for you of course.
It's a bit like asking "how much do you pay for a service on your car?". Because it will depend on the car, and the type of service carried out! Having people quote their own costs to you on a totally random basis will be no assistance to working out what yours will cost, until you can show that your circumstances are similar to theirs.
s2kjock said:
Personal tax return fees, particularly if it is a simple return, can be skewed to varying degrees if your accountant does other work for you of course.
Yes - ours said he would do them for the UK based Directors for no 'separate' charge. I do my own though - for most people the hardest part is getting the information together and you've got to do that whoever completes the Return.I think the OP lets property so that's an altogther more involved scenario.
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