Accountant fee for tax return

rob3001

Not sure if this is the right place for this question but.......

What is the going rate for an accountant to complete and submit a tax return?

My partner and I don't have a complicated tax situation apart from having 3 three rental properties.  For both our tax returns we are charged around £900 by our accountant to prepare and submit our returns.

Our friend is in a similar position (two rental properties) and for his and his wife's returns he is only charged £200.

I am obviously paying too much but what is a usual rate for this type of work?

Jeremy535897

Presumably the rental figures on each return are the same, so it is really only one return that needs working on? It depends on a number of factors, like:

• whether you use a letting agent or not
• whether you provide all the necessary information promptly, in one go, in an easy to understand format
• what else is on the returns and whether you provide the information promptly, in one go, in an easy to understand format
• whether tenants come and go frequently
• whether there are lots of expenses

Having said all of that, £900 sounds a lot to me, even if it includes VAT.

rob3001

It is two returns that need to be done because one of the properties is in joint names so two lots of tax to pay.
I provide all the information that is needed in what I think is an easy to understand format.
The properties have had the same tenants for the last 3 years so it should be fairly straight forward. There is nothing else on the returns only the usual bank interest etc.

[Deleted User]

£900 is certainly high (£750 plus VAT) but £200 for two returns does seem on the cheap side. Somewhere in the middle would seem more appropriate. However, while the return may be completed on the basis of information provided, how well equipped is the £200 man to deal with any queries from HMRC? Sometimes you do actually get what you pay for.

rob3001

The £200 man is old school, been doing it for 35 years.  My friend has never had any problems so not really too sure on how well he deals with HMRC problems.  I know of a few companies  and a school that also use him so I am guessing he can't be that bad.
You are right, you do get what you pay for but a £700 saving for a straight forward return seems a good deal

Hasbeen

rob3001 said:

Not sure if this is the right place for this question but.......

What is the going rate for an accountant to complete and submit a tax return?

My partner and I don't have a complicated tax situation apart from having 3 three rental properties.  For both our tax returns we are charged around £900 by our accountant to prepare and submit our returns.

Our friend is in a similar position (two rental properties) and for his and his wife's returns he is only charged £200.

I am obviously paying too much but what is a usual rate for this type of work?

You have 3  properties in joint names? You are experienced landlords?


You do keep a spreadsheet of incomings and outgoings? for each property? Allowable expenses/income etc, etc?


Then why not consider doing your own Self Assessments?

rob3001

Only one property is in joint names.
Yes everything is put into a spreadsheet for all properties.
I have not considered doing myself as I like to know that it is all done properly.  I might have to re-think that.

SystemThinking

This is not an answer, but a related question. I was new to the UK last year and had a somewhat complex situation including a split year treatment, so I hired a tax accountant from a respected local firm who charged me £1500 + VAT (judging by this thread that is quite high).

Unfortunately, the service I received was sub-optimal, not in terms of the return itself, but the attitude (long delays between emails, no effort to get all the details right and thus requiring multiple rounds of back-and-forth) and the timing (he left the return to the very last day of January despite me signing the contract in June, and also failed to inform me that it had been filed until the following day, causing me a lot of unnecessary stress).

I filed a complaint with the firm's complaint-receiving partner, and they half-heartedly apologized and offered me £200 + VAT "as a gesture of goodwill". Do you think I should accept, ask for more, or complain to a higher authority? Does anyone have any experience with these things? Any suggestions will be appreciated!

Jeremy535897

It's hard to comment on the original figure without more detail, but knowledge of the complex rules around residence and the split year rules is a different matter to completing the property self assessment pages. If you signed a contract including this figure, there is nothing you can do. They should have quoted you an estimate before you signed up though.

Personally I think that you are extremely unlikely to do better than the £200 offer, as it seems you haven't actually suffered any loss, other than some stress. Presumably you gave them all the necessary information by, say, the end of October?

pramsay13

£900 seems a crazy amount for two tax returns that aren't complicated.
Now that you've had it done you should be able to do it yourself next year using the one done by the accountant as a template. 
One year I got someone to do mine and my wife's tax return that included PAYE income, self assessment, and property and that was £300 for both.
I felt that was a bit much and I've done it myself ever since.

[Deleted User]

pramsay13 said:

£900 seems a crazy amount for two tax returns that aren't complicated.
Now that you've had it done you should be able to do it yourself next year using the one done by the accountant as a template. 
One year I got someone to do mine and my wife's tax return that included PAYE income, self assessment, and property and that was £300 for both.
I felt that was a bit much and I've done it myself ever since.

I’d have to say £300 for two returns is very reasonable. One must remember that many would be delighted to pay that amount to a reputable accountant just for the alleviation of the stress and security that everything was completed correctly. 

I complete my brother-in-laws’ form every year (for a free breakfast). He is a complete stress bucket about the whole process.