# Acountants fees



## nuagael@veri (8 Feb 2007)

Hello this is my first post. Does anyone know if 600 euros sounds usual for the drawing up of a simple rental account by an accountant. I am a non resident landlord who has just last year purchased a house and would imgine my acount will be fairly straight forward not too complex. Any advice appreciated.


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## Jockey (8 Feb 2007)

Hi,

I think €600 is a bit harsh to be honest if its just a straightforward rental account and IT return. I think we normally charge around €300 for this services. Hope that helps you.

Jockey


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## Joe1234 (8 Feb 2007)

Think you are being overcharged at 600.  Depending on the work involved 300 -400 should be more realistic.  Don't forget that your accountants fees are a business expense that can reduce your taxable rental income (profit).


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## nuagael@veri (8 Feb 2007)

Thanks for your help.


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## Froggie (8 Feb 2007)

I paid €240 3 years ago.


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## Ham Slicer (9 Feb 2007)

nuagael@veri said:


> Hello this is my first post. Does anyone know if 600 euros sounds usual for the drawing up of a simple rental account by an accountant. I am a non resident landlord who has just last year purchased a house and would imgine my acount will be fairly straight forward not too complex. Any advice appreciated.



Is your accountant also acting as your collection agent?


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## ubiquitous (9 Feb 2007)

Does the €600 include VAT? 
Does it include initial registration (Form TR1) and registration form for collection agent?


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## z107 (9 Feb 2007)

^^ If it does include form TR1, you could fill this in yourself and save a bit of money

[broken link removed]

It looks easy enough. Most of it is probably irrelevant.


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## ubiquitous (9 Feb 2007)

umop3p!sdn said:


> ^^ If it does include form TR1, you could fill this in yourself and save a bit of money
> 
> [broken link removed]
> 
> It looks easy enough. Most of it is probably irrelevant.



The form itself is very straightforward when registering for income tax only (as in the above example) but there can be difficulties (and work!) involved in getting the relevant Revenue District Office to process it. Tax Registration one of the few major areas of tax work that cannot be done online at the moment and at times it can be a real pain following up with Revenue when they fail for whatever reason to process forms as they should. 

I'm not sure if its the kind of thing that someone would be happy to chase up themselves if they live abroad...


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## Rhino 1 (9 Feb 2007)

H,

€600 seems steep alright -but if there are multiple units, dealing with agent, if any work was done on the house €600 may actually be cheap -it really does depend on the individaul circumstances.


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## z107 (9 Feb 2007)

> The form itself is very straightforward when registering for income tax only (as in the above example) but there can be difficulties (and work!) involved in getting the relevant Revenue District Office to process it.



Well I'm assuming that the €600 isn't just for filling in this form and getting the revenue district office to process it (Which I would have thought just entailed posting it to them with maybe a follow up phone call)


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## ubiquitous (9 Feb 2007)

umop3p!sdn said:


> Well I'm assuming that the €600 isn't just for filling in this form and getting the revenue district office to process it)



Er, I think the OP was quoted €600 for a tax return. My query was whether this included form TR1. I don't think anyone mentioned a fee of €600 for the TR1?



umop3p!sdn said:


> (Which I would have thought just entailed posting it to them with maybe a follow up phone call)


...If you're lucky. (see above)


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## z107 (9 Feb 2007)

> Er, I think the OP was quoted €600 for a tax return.


What's involved in a tax return?


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## ubiquitous (9 Feb 2007)

ah jaysus...where would I start?


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## z107 (9 Feb 2007)

Well the op said it was  'a simple rental account'. I just wanted a rough idea what this entailed. Is it just a case of filling in a couple of forms? - or is there loads more to it?

I know my personal tax return is just a case of filling in a form (most of which is irrelevant).


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## nuagael@veri (9 Feb 2007)

Ham Slicer said:


> Is your accountant also acting as your collection agent?


No he is not


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## nuagael@veri (9 Feb 2007)

ubiquitous said:


> Er, I think the OP was quoted €600 for a tax return. My query was whether this included form TR1. I don't think anyone mentioned a fee of €600 for the TR1?
> 
> 
> ...If you're lucky. (see above)


Hi thanks all for your replies. I am registered with the TRB and am a non resident landlord doing my first rental account return. The rent is paid in to my Irish bank account. It would seem to me to be a faily simple return claiming for the usual fixtures furnishings repairs etc. I did not ask if the 600 quoted included VAT it was their MINIMUM fee. I have one house not multiple dwellings. Just thought accountant would have a better idea on things I can/ cannot claim than I do.


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## Ham Slicer (9 Feb 2007)

umop3p!sdn said:


> Well the op said it was  'a simple rental account'. I just wanted a rough idea what this entailed. Is it just a case of filling in a couple of forms? - or is there loads more to it?
> 
> I know my personal tax return is just a case of filling in a form (most of which is irrelevant).



You seem like you know what you're talking about.

Why don't you contact the OP and do the Return for them.  It couldn't take any more than an hour to fill out a couple of forms (most of which is irrelevant) and make a few phone calls.

Let me know how much you'd charge and I might pass a few jobs on to you.


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## z107 (9 Feb 2007)

> You seem like you know what you're talking about.



No where have I claimed I know what I'm talking about in this matter. I can't imagine where you got this from.

This site is called 'ask about money' - is it not? I'm simply curious as to what the whole process entails. (asking about money, I suppose you could call it)

Indeed, throughout this thread I have asked questions about exactly what the whole process entails. If it is only a case of filling in a couple of forms and then getting €600 for it, then feel free to pass on some clients.


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## ubiquitous (9 Feb 2007)

If you don't know what you are talking about then is there not a risk that you may well be misleading other posters by making judgemental comments, for example: "you could fill this in yourself and save a bit of money. It looks easy enough. Most of it is probably irrelevant." 

Some people might even say that this is trolling.


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## z107 (9 Feb 2007)

> If you don't know what you are talking about then is there not a risk that you may well be misleading other posters by making judgemental comments, for example: "you could fill this in yourself and save a bit of money. It looks easy enough. Most of it is probably irrelevant."



I was simply refering to the TR1 form. I also posted a link to it so that people could make their own minds up.

[broken link removed]




> Some people might even say that this is trolling.



And some people might class that as a judgemental comment.


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## ubiquitous (9 Feb 2007)

umop3p!sdn said:


> And some people might class that as a judgemental comment.


Indeed, but I certainly know what I'm taking about.


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## Newby (9 Feb 2007)

umop3p!sdn said:


> What's involved in a tax return?


Nothing at all - they are easy.  Feel free to fill them in yourself. Tax advisors probably make more from fixing incorrect returns than submitting correct ones!



umop3p!sdn said:


> (Which I would have thought just entailed posting it to them with maybe a follow up phone call)



If only... Sometimes i wonder how many back of the desks there are in the Revenue for forms fall down.

As for the original question - it depends on the circumstances surrounding the taxpayers situation as to whether or not the fee is good value. If you think it is bad value then ask around for other quotes.


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## Joe1234 (9 Feb 2007)

nuagael@veri said:


> I did not ask if the 600 quoted included VAT it was their MINIMUM fee.



Technically, if you are not registered for VAT, the price that you are quoted should be inclusive of VAT.  I believe that businesses are only allowed toquote ex vat prices when it is clear that the person to whom they are quoting, is also vat registered.


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## z107 (10 Feb 2007)

> Nothing at all - they are easy.


 I bet in this case it is. How complicated could it realistically be? - the OP describes it as a 'simple rental account'



> Feel free to fill them in yourself. Tax advisors probably make more from fixing incorrect returns than submitting correct ones!



I have filled in my own tax returns myself. Then again, they are simple returns, as my own affairs aren't that complicated.


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## extopia (11 Feb 2007)

Simple returns can indeed be filled in by people who know what to do.

Complicated returns can also be filled in by people who know what they are doing.

I suppose the bottom line is, if you don't know what you're doing, don't do it!


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