How much for a simple tax return

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pinksponk
pinksponk Registered Posts: 57 Regular contributor ⭐
in Tax
Can anyone please tell me what they charge for doing a simple tax return, eg a taxi driver. Is £50 too little ??

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  • Lina
    Lina Registered Posts: 41 Regular contributor ⭐
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    Hi,
    I think £50 is not enough:huh:
    I charge 100 minium.
  • pinksponk
    pinksponk Registered Posts: 57 Regular contributor ⭐
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    Thanks for that .
  • Dean
    Dean Registered Posts: 646 Epic contributor 🐘
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    Are you preparing the accounts first, or just using provided figures?

    Regards

    Dean
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Self assessment tax return, up to 3 simple (no calculations needed) sources of income (eg, salary, dividends, bank interest) £125.
  • Peter W
    Peter W Registered Posts: 22 New contributor 🐸
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    A self assessment tax return with 3 simple sources of income is often £60 to £100.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    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 Registered Posts: 37 Regular contributor ⭐
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    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 Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
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    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 Registered Posts: 57 Regular contributor ⭐
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    Thanks very much everyone. I am glad I didnt under charge for that

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