Can you make money doing tax returns for people?

gvw121

At present i'm working full time and I've decided that I want to do something extra on the side to supplement my income. I've always been curious about tax returns and I would like to learn how to do it but is there a good demand for this in terms of making money and how much can you expect to make?

I remember a friend at University telling me that he knows somebody who actually does do tax returns for small businesses and he makes a decent income out of it.

Isit possible to do a course on tax returns and are they difficult to do?

I would appreciate all your views

CLAPTON

yes indeed you can, they are called accountants

jimmo

If you are a chancer, you can make money out of anything and maybe this time next year you will be a millionaire. On the other hand, you may be bankrupt.
There is a mechanical process of putting figures in boxes but what happens if you get it wrong?

gvw121

Have you ever done tax returns youself?

MacMickster

Most people who will pay more than a token amount to have their tax return completed want other services along with this eg accurately calculating their business profits, capital gains or taxable rental income. This is what an accountant does after years of training.

chrismac1

To do this properly you need to:

1. Qualify as an accountant - 3 years minimum, can be costly.
2. Get a practising certificate.
3. Study tax law.
4. Register with the Information Commissioners.
5. Register with an appropriate anti-moneylaundering body.
6. Spend £500 plus on Professional Indemnity Insurance per year.

And there is more, that's just for starters.

Cook_County

I would switch just one thing in Chris' list. You could qualify as a Chartered Tax Adviser.

Separately you need a business plan if you are creating a business.