# fee for tax returns for married couple for 2007?



## dubinamerica (14 Jan 2008)

Any quotes on what this would cost? Both living and working in Ireland. Have one investment property that is being rented. Nothing too complex for this year. sold other investment property in 2006 and paid CGT but I believe that would have to declared in 2007 returns.  Any quotes?


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## teachai (14 Jan 2008)

Is it 1 return or 1 return each?

I got my tax return done for about €300(it may have been less) and it was well worth it as the revenue sent me a big refund.   Its also a lot less hassle than trying to do it yourself.


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## Stifster (14 Jan 2008)

dubinamerica said:


> Any quotes on what this would cost? Both living and working in Ireland. Have one investment property that is being rented. Nothing too complex for this year. sold other investment property in 2006 and paid CGT but I believe that would have to declared in 2007 returns. Any quotes?


 
Money is better than poverty, if only for financial reasons.  ~Woody Allen


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## dubinamerica (14 Jan 2008)

: )  nice one Stifster

i got a quote for 400 + VAT to cover both of us on our returns - does that seem reasonable?


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## Butter (14 Jan 2008)

To me that seems expensive.  I had a joint tax return done for myself and my husband for €150 in October 2007.  Both PAYE workers with rented properties so wasn't too complex.  I also had all receipts and a summary done for the accountant which probably cut down a bit on the time he spent doing it.  Even with working out your cgt liability I think €400 is expensive.


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## ubiquitous (15 Jan 2008)

You will not get anyone who is regulated and professionally insured for tax compliance work (and who is paying their own taxes on such earnings) to prepare a rental income tax return for €150 or anything like it. €400 would generally be considered a competitive fee for such work.


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## ubiquitous (15 Jan 2008)

dubinamerica said:


> sold other investment property in 2006 and paid CGT but I believe that would have to declared in 2007 returns.



If you sold an investment property in 2006, this should have been declared on a tax return or Form CG1 return for 2006, and submitted to Revenue by 31/10/07. Penalty for non-filing by that date is a 10% surcharge on the CGT liability, if any.


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## Butter (15 Jan 2008)

Guess I must be lucky then as I did get it done for €150 by a Chartered Accountant who is registered, insured, charging vat (and I presume is tax compliant himself!)


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## dubinamerica (15 Jan 2008)

thanks for the feedback so far .. sorry typo in the above - investment property sold in 2007 (not 2006).. CGT has been paid already, on time and full amount, but I think it needs to be declared as income or something in 2007 returns. 
Including that and rental for one house and two PAYE joint assessments how is 400 + VAT looking? Anyone else paid for similar work recently?


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## Ham Slicer (16 Jan 2008)

dubinamerica said:


> thanks for the feedback so far .. sorry typo in the above - investment property sold in 2007 (not 2006).. CGT has been paid already, on time and full amount, but I think it needs to be declared as income or something in 2007 returns.
> Including that and rental for one house and two PAYE joint assessments how is 400 + VAT looking? Anyone else paid for similar work recently?




If you can trust the guy that gave the quote I'd run with that.


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## ubiquitous (16 Jan 2008)

Marg said:


> Guess I must be lucky then as I did get it done for €150 by a Chartered Accountant who is registered, insured, charging vat (and I presume is tax compliant himself!)



Lucky indeed. One wonders why he is charging so little?


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## ubiquitous (16 Jan 2008)

Ham Slicer said:


> If you can trust the guy that gave the quote I'd run with that.



So would I


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## Butter (16 Jan 2008)

I think it is probably because he has started his own business up in the last couple of years and is charging very competitively in order to generate business.  This is not in Dublin so perhaps his overheads are much lower as well.  Anyway I don't know really - but I'm happy (and my returns have been done correctly).


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## buckmeister (26 Jan 2008)

If you have all the information ready for the accountant, to review your information, prepare the tax return, and review the notice of assessment, for any sort of an accountant should not take more than 1.5 hours, qualified accountants down the country in small practices generally charge €100 per hour, so the €150 + Vat is correct, the €400 + Vat is excessive


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## mathepac (27 Jan 2008)

dubinamerica said:


> Any quotes on what this would cost? Both living and working in Ireland. Have one investment property that is being rented. Nothing too complex for this year. sold other investment property in 2006 and paid CGT but I believe that would have to declared in 2007 returns.  Any quotes?



I got 2 years PAYE, CGT reconciliation and non-PAYE income done for 400 + VAT and a 5 figure refund from revenue just in time for Christmas. I thought Revenue had been over-generous with one return and  I figured I owed them money, hence 2 years together.

Make sure whoever does your return gives their Tax Advisor Identification Number, TAIN (bottom of Page 1 Form 12). Any registered tax-advisor invoices you pay are allowable against your next return; not quite self-financing, but what the hey, bread is bread.


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## Ham Slicer (27 Jan 2008)

mathepac said:


> Make sure whoever does your return gives their Tax Advisor Identification Number, TAIN (bottom of Page 1 Form 12). Any registered tax-advisor invoices you pay are allowable against your next return; not quite self-financing, but what the hey, bread is bread.



So you are saying if the TAIN is not quoted or the tax advisor doesn't have one the fees aren't deductible?  This is incorrect.


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## Joe1234 (27 Jan 2008)

Ham Slicer said:


> So you are saying if the TAIN is not quoted or the tax advisor doesn't have one the fees aren't deductible?  This is incorrect.



Any expenses wholly and exclusively for business use are deductible.


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## ubiquitous (28 Jan 2008)

> Make sure whoever does your return gives their Tax Advisor Identification Number, TAIN (bottom of Page 1 Form 12).



A TAIN number is absolutely essential for anyone who is submitting a tax return on behalf of another person. The Revenue will not generally accept phone calls or letters from a third party claiming to represent a taxpayer unless that third party has a TAIN number.


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## buckmeister (28 Jan 2008)

A Tain number is not essential, it just allows the tax advisor to correspond directly with the revenue on your behalf, a tax advisors fee's are only deductable against non Paye income, irrespective if they have a tain or not.


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## ubiquitous (29 Jan 2008)

buckmeister said:


> A Tain number is not essential, it just allows the tax advisor to correspond directly with the revenue on your behalf.



If you consider that (1) the ROS system will only let an agent file for you if they have a Tain; (2) at least  one-third of paper Form 11 returns generate incorrect tax assessments; you will realise that a Tain number is pretty much essential. There is little point in engaging an advisor in the first instance if they are unable to represent you if a query or problem arises in relation to your tax return.



buckmeister said:


> a tax advisors fee's are only deductable against non Paye income, irrespective if they have a tain or not.


This will be the case if the person is indeed a "tax advisor". However Revenue may baulk at someone for example claiming a tax deduction of a amount paid to their student son or daughter for "tax services"


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## buckmeister (11 Feb 2008)

A Tain number is not essential, when the assessments is sent to the client, it would only take a minute to check it, and write to the revenue to correct any errors.
If you have paid your son or daughter for tax services, the revenue have no problem with this. It is a requirement that you son or daughter then returns this income on their own personal tax return.


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## ubiquitous (12 Feb 2008)

buckmeister said:


> A Tain number is not essential, when the assessments is sent to the client, it would only take a minute to check it, and write to the revenue to correct any errors.



This process is not made any easier if the person who filed the return in the first instance doesn't get a copy of the assessment but has to wait until the client forwards it to them. Writing to the Revenue is no guarantee that an erroneous assessment will be corrected. It is sometimes necessary to phone Revenue to explain something particularly if an error has not been properly corrected, even after correspondence. In such situations, the Revenue will normally for confidentiality reasons refuse to speak to an unaccredited third party in relation to a taxpayers affairs. The taxpayer may not feel comfortable pursuing this query themselves.



> If you have paid your son or daughter for tax services, the revenue have no problem with this.


...depending on the circumstances. 



> It is a requirement that you son or daughter then returns this income on their own personal tax return.



This goes without saying.


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## buckmeister (12 Feb 2008)

Once the person who has filed the return has stated that they are acting as the agent on the front of the form, then the revenue will automatically send a copy of the notice of assessment to the agent, and will accept correspondence directly from the agent, this agent does not have to have a tain number, the revenue prefer to have correspondence in writing. If you have paid your son or daughter for providing tax services, the revenue will allow this as an expense against non paye income.


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