How much for a simple tax return

pinksponk
pinksponk Feels At HomeRegistered Posts: 57
Can anyone please tell me what they charge for doing a simple tax return, eg a taxi driver. Is £50 too little ??

Comments

  • Lina
    Lina Feels At Home Registered Posts: 41
    Hi,
    I think £50 is not enough:huh:
    I charge 100 minium.
  • pinksponk
    pinksponk Feels At Home Registered Posts: 57
    Thanks for that .
  • Dean
    Dean Experienced Mentor DevonRegistered Posts: 646
    Are you preparing the accounts first, or just using provided figures?

    Regards

    Dean
  • Monsoon
    Monsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Self assessment tax return, up to 3 simple (no calculations needed) sources of income (eg, salary, dividends, bank interest) £125.
  • Peter W
    Peter W Settling In Nicely Registered Posts: 22
    A self assessment tax return with 3 simple sources of income is often £60 to £100.
  • Monsoon
    Monsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    We don't cater to the overly price-sensitive market, we offer a very high quality of personal service and our clients are fine with our fees.

    I heard that Grant Thornton can't process a simple SA100 for less than £300, and that was about 3 years ago I heard that titbit!! Probably more round the £330 mark now.
  • Timmne
    Timmne Feels At Home Registered Posts: 37
    I charge a minimum of £120 for a tax return, not including any complicated calculations. You have to bear in mind the overheads of your practice etc, not that you're going to do 2 hours work and working it out from there - £50 is faaar to low, in my opinion.
  • JodieR
    JodieR Experienced Mentor Registered Posts: 1,002
    Yeah, you need to consider that you'll probably end up doing most of the following:-

    Initial meeting/phonecall
    Issue engagement letter & get copies of ID
    Set up agent authorisation
    Get information from client
    Process return
    Print/bind return and write letter to the client
    Submit return
    Remind client that tax is due or check repayment amount
    Check PAYE coding notices
    Check HMRC account statement
    Probably several extra phone calls with client/HMRC over the year

    It's just 10 minutes here and there, but it always seems to add up to a lot more than you expected! I very rarely charge under £100 for a tax return.

    Jodie
  • pinksponk
    pinksponk Feels At Home Registered Posts: 57
    Thanks very much everyone. I am glad I didnt under charge for that
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