Price range for a tax return

R

Raptor

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I am sole trader and I will need to file a tax return this year (and VAT). I would like to get an accountant to do it. I know this may vary bu what would be a price range for getting an accountant to do that?

Thanks
 
More detail needed. Projected turnover? Type of trade? How many employees? Type of books being maintained?
 
This is revenue from advertising on a website (type Google adsense). No employee, turnover is around 50k, and I have a list of all the transactions.
 
Hm. The accountant I contacted asked more than twice that price. Is that normal?
 
it depends you say you have all your records but are they written up or are they just in a file or folder if the latter then the accountant would have to write them up so yep it would take more time but you can always shop around and look for a lower quote !
 
Raptor said:
This is revenue from advertising on a website (type Google adsense). No employee, turnover is around 50k, and I have a list of all the transactions.
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Is it just a tax return or is he preparing accounts also? You mentioned that you're VAT return was to be done also.

I think €1000 is fair.
 
I got a Tax return as a Sole Trader done for €100 and this was by a qualified/practising accountant. Used the Ben Dunne Tender Me for it.
Got quotes in the 500-1000 bracket.
All invoices and income in two folders and that was that.
No account preparation etc.
 
Hi Jwtc

Believe me I am not trying to sound smart but I would be pretty sure that whoever it was you got to do your tax return for €100 was not a qualified and practicing accountant.

Sounds more like a really dodgy cheap nixer and I only hope it was done right because they wont be back to fix the mess if it wasn't. Thats if they even know how to fix the mess.

For €100 you would be looking at just filing a simple directors return only with just a p60 to enter AND CHECK. No accounts, invoices, files or anything.

Regards

dbran
 
i know a fellow called will barns his e-mail is thewilleffect@gmail.com i knoe several people that have used him and they think he charges a fair rate so drop him a line tell him chris gave you his address i hope this helps but if nothing else you will have a guide price
 
The common law of business balance prohibits paying a little and getting a lot. It can't be done. If you deal with the lowest bidder, it's well to add something for the risk you run. And if you do that, you will have enough money to pay for something better.
 
Like many things there are good accountants and cheap accountants but I don't know any good cheap accountants. Professional training & membership, continuing professional education, professional indemnity insurance etc. all form part of the basic cost structure of any practice plus the ordinary costs so it is very difficult to find a qualified, regulated, insured advisor for low cost.
 
Graham_07 said:
Like many things there are good accountants and cheap accountants but I don't know any good cheap accountants. Professional training & membership, continuing professional education, professional indemnity insurance etc. all form part of the basic cost structure of any practice plus the ordinary costs so it is very difficult to find a qualified, regulated, insured advisor for low cost.
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+1... you tend to get what you pay for in this profession... remember, when Revenue come knocking, they come knocking for you, not the bargain-basement accountant.
 
You can substitute the word 'accountant' for any profession in Graham_07's statement. I can't believe that people think they are getting a good deal for €100.
Yes they are getting a bargain price, but at what cost?
 
DBRAN said:
Hi Jwtc

Believe me I am not trying to sound smart but I would be pretty sure that whoever it was you got to do your tax return for €100 was not a qualified and practicing accountant.

Sounds more like a really dodgy cheap nixer and I only hope it was done right because they wont be back to fix the mess if it wasn't. Thats if they even know how to fix the mess.

For €100 you would be looking at just filing a simple directors return only with just a p60 to enter AND CHECK. No accounts, invoices, files or anything.

Regards

dbran
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It was €100, I gave him two folders, one with income/sales invoice and the other with all the expenses... he done all the accounts/paper work and I got a nice refund from revenue last week... That was a sole trader return...

The guy is 100% qualified... own practice, good experience.. absolutely does a superb job for me on a monthly basis now... maybe it was a good way for him to "get in" with me... The amount of things he has now helped me with in the new company I set up, unreal.. believe what you think but he is the real deal.. I'm getting a huge amount of "offers" from accountancy firms recently and their prices are sky high...
There are good professionals out there who are not out to strip people when it comes to these things.
 
I thought Lionel Hutz's firm was called "I Can't Believe It's a Law Firm" and wasn't aware he was doing tax returns. Only a cowboy could/would do a return for €100, especially one where there was a degree of accounts prep involved. One has to wonder whether your refund was entirely legitimate. You get what you pay for, especially when it comes to tax.
 
Hi

Fair enough.... maybe your accountant has seriously undersold himself in an attempt to get more business.

When the word gets around and his business takes off and he gets busier you might find he is less able to help with for the level of fee you are paying him. He is definately working for peanuts and this has a certain de-motivational effect on any business arrangement.

Kind Regards

dbran

jwtfc said:
It was €100, I gave him two folders, one with income/sales invoice and the other with all the expenses... he done all the accounts/paper work and I got a nice refund from revenue last week... That was a sole trader return...

The guy is 100% qualified... own practice, good experience.. absolutely does a superb job for me on a monthly basis now... maybe it was a good way for him to "get in" with me... The amount of things he has now helped me with in the new company I set up, unreal.. believe what you think but he is the real deal.. I'm getting a huge amount of "offers" from accountancy firms recently and their prices are sky high...
There are good professionals out there who are not out to strip people when it comes to these things.
Click to expand...
 
jwtfc said:
... maybe it was a good way for him to "get in" with me...
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Possibly. Then again he may have a very low cost base or some other thing in his set-up that allows for this pricing structure. ( what it is is beyond me ) Anyways, on the basis of what you said, you may have done quite well.

PS , I assume you have a solid quote from him for the all the work he is doing for the company you set up and that you have an engagement letter in place.
 
There's nothing stopping the cowboys overcharging as well!
Quotes for accounting work seem to vary wildly.
 
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