Finding a good accountant

Frank37

Hello! It's my first time using an accountat. How do i find a good one to manage CGT on my discretionary stocks and shares portfolio. I'm worried they could rip me off, as they are clever, am i unduly parsnoid? Lol are there any websites to find a good local accountant?

Pennywise

The main regulated accountancy bodies have directories of their members on their websites. CGT on stocks and shares is quite complicated, so I'd suggest you don't go down the route of unqualified/unregulated accountants.

Google for Chartered Institute of Taxation, Institute of chartered accountants or Association of chartered certified accountants. At least if you chose one of their regulated firms off the website, you know they're properly regulated and have PI insurance in case things go wrong.

Literally anyone can call themselves an accountant, even those with no accountancy qualifications nor even experience, and people with just book-keeping qualifications advertise themselves as accountants and tax advisors, so be very wary if you don't choose someone off the websites mentioned above.

Frank37

Thanks Pennywise, useful info!

Frank37

Anyone have an idea how much a chartered accountant would cost dealing with a years CGT?

DigForVictory

Hundreds less than getting it wrong & having HMRC have a gnaw on your books & records.

Under £3000 almost certainly unless your records are gruesome & the rest of your finances complicated. The Big 4 are not nicknamed thus for their size but their average price in zeroes.

Hit the websites & then call them up & ask for an average price & then talk to your cronies, competitors and those who share the need for an accountant as to whom they get along with. Money is rather less critical than trust in this relationship, so spend time finding the right team for you.

Pennywise

Frank37 wrote: »

Anyone have an idea how much a chartered accountant would cost dealing with a years CGT?

Depends what's involved. A fairly simple/straightforward property sale may be just a couple of hours' work, but a share portfolio with lots of buying/selling of shares could take several hours. So, anywhere from a few hundred to a few thousand dependant on how complicated it is, the quality of your record keeping, etc.

tebthereb

Most will give a free initial chat or meeting following which they can consider scope and provide a quote.