Completing tax return for friend

neuroticprincess

A friend of mine has just asked me if I will complete his tax return for him. I'm a third year student with one exam to sit and am confident about doing this correctly but wanted to check if there is anything I need to consider as this will be the first time I have done a rtac assessment outside of an exam. I'm thinking along the lines
oninsurance etc and do most people register as an agent or just as an individual for each client?

Any advice would be appreciated.

Np

Vonni

If this is a one off and you are merely assisting a friend I would ask your friend to register personally for on line filing. I would then help your friend by giving free of charge advice in connection with compiling the information to assist him to complete his return and file. If your friend wants to buy you a bottle of wine or box of chocs to say thanks for your help on this one occasion that shouldn't be a problem.

However, if you are intending to charge your friend for your advice then you must seriously consider your position, if you are charging for your services you must be a MIP and registered to do this type of work and you will need to have PI insurance too.

V