I've developed an Income Tax Refund Assessment Tool. Need feedback!

Towger said:
The string of abuse you get over the phone when someone who thinks they are going to get €500 back, ends up owing money.
Click to expand...

What are the major tax deficits in this regard? Eg. COVID payments?

What do users need to watch out for?
 
Myuser01 said:
There are tax pros who run paid webinars and charge around €25-35 per guest.
Click to expand...
I've no idea of how that business model works. Maybe it works for fly-by-night operators, but a professional accountant who picks up work at €25-€35 a pop (on which VAT will be suffered) won't last a wet week in business.

At a very minimum, before you do a tap of work for them, you need for every single new customer:
- completion of a money laundering risk assessment
- compilation and safe retention of photographic and address ID
- a signed engagement letter
- a signed Revenue agent link notification
- a full paper trail to protect against a complaint or negligence claim
- retention of client particulars for 7 years.
 
If I was to make a checklist of bills users needed before submitting their tax return, where would I start?
 
If I was to make a checklist of bills users needed before submitting their tax return, where would I start
T McGibney said:
I've no idea of how that business model works. Maybe it works for fly-by-night operators, but a professional accountant who picks up work at €25-€35 a pop (on which VAT will be suffered) won't last a wet week in business.

At a very minimum, before you do a tap of work for them, you need for every single new customer:
- completion of a money laundering risk assessment
- compilation and safe retention of photographic and address ID
- a signed engagement letter
- a signed Revenue agent link notification
- a full paper trail to protect against a complaint or negligence claim
- retention of client particulars for 7 years.
Click to expand...

I think they get 10 - 15 users per Web session and they simply demo the process and field general questions. For a one-to-one session the going rate seems to be around €175. Duration 50 mins.

Does this sound right?
 
If I was to make a checklist of bills users needed before submitting their tax return, where would I start
T McGibney said:
I've no idea of how that business model works. Maybe it works for fly-by-night operators, but a professional accountant who picks up work at €25-€35 a pop (on which VAT will be suffered) won't last a wet week in business.

At a very minimum, before you do a tap of work for them, you need for every single new customer:
- completion of a money laundering risk assessment
- compilation and safe retention of photographic and address ID
- a signed engagement letter
- a signed Revenue agent link notification
- a full paper trail to protect against a complaint or negligence claim
- retention of client particulars for 7 years.
Click to expand...

I think they get 10 - 15 users per Web session and they simply demo the process and ask general questions. For a one-to-one session the going rate seems to be around €175. Duration

Does this sound right?
 
Myuser01 said:
If I was to make a checklist of bills users needed before submitting their tax return, where would I start


I think they get 10 - 15 users per Web session and they simply demo the process and ask general questions. For a one-to-one session the going rate seems to be around €175. Duration 50 mins.

Does this sound right?
Click to expand...
Good luck to them. Doesn't sound like a sustainable business model though.
 
@Myuser01

I don't want to be unkind but this does not sound well thought out.

You really need to know a lot about tax. Go off and study it so that you can provide the service manually.

Then automate it.

Brendan
 
Brendan Burgess said:
I don't want to be unkind but this does not sound well thought out.

You really need to know a lot about tax. Go off and study it so that you can provide the service manually.

Then automate it.

Brendan
Click to expand...

thanks Brendan. Not unkind at all. :)

I was hoping to get an accountant onboard at an earlier stage. I wouldn't even attempt to study something as complex as the tax system unless I intended on becoming a tax professional...
 
OK. Guys, I need someone to read the blog / tax tips section and correct any errata.

Obviously, they'd need to be a tax accountant / advisor. There are 7 articles, most are short.

Can anyone out there DM me a quote?
 
I welcome any assistance that will make any application easier. But, if you’re going to train to climb Mount Everest you don’t start your training by actually climbing Mt Everest. On-line claiming re PAYE is easy, let’s not pretend it is difficult. Some people have difficulty with any kind of online forms. Once that difficulty/fear is conquered the remainder re PAYE claim form is simple.

I’ve read through the website and to be honest it’s just OK (but readable; and I acknowledge you put some effort into it). We can do without the caped crusader input too - we’re all adults.

Bottom Line:- Doing your yearly Tax Return online is an easy process for most of us.
 
Knuttell said:
Not for me, an accountant required....though I can write his fee off against tax and over the years his insight has saved me money.
Click to expand...
1. Is the full accountants fee refunded by revenue?
2. If a qualified self employed accounts technician completes the claim is the fee refundable in full by revenue?
3. If either is refunded how is it shown by revenue?
 
Leper said:
I welcome any assistance that will make any application easier. But, if you’re going to train to climb Mount Everest you don’t start your training by actually climbing Mt Everest. On-line claiming re PAYE is easy, let’s not pretend it is difficult. Some people have difficulty with any kind of online forms. Once that difficulty/fear is conquered the remainder re PAYE claim form is simple.

I’ve read through the website and to be honest it’s just OK (but readable; and I acknowledge you put some effort into it). We can do without the caped crusader input too - we’re all adults.

Bottom Line:- Doing your yearly Tax Return online is an easy process for most of us.
Click to expand...
Thanks :)
 
Leper said:
1. Is the full accountants fee refunded by revenue?
2. If a qualified self employed accounts technician completes the claim is the fee refundable in full by revenue?
3. If either is refunded how is it shown by revenue?
Click to expand...
1 Yes...written off against rental income.
2 Presume so
3 No idea, would need to ask him.
 
Leper said:
1. Is the full accountants fee refunded by revenue?
Click to expand...
That's not how it works. If you have trading or rental income it is normally possible to claim a deduction against taxable profits for the cost, in common with any other qualifying cost.
Leper said:
2. If a qualified self employed accounts technician completes the claim...
Click to expand...
The qualification status of the service provider is irrelevant.
Leper said:
3. If either is refunded how is it shown by revenue?
Click to expand...
It is not a refund.
 
You mention asking CAVA for assistance. Not sure that’s what the service is for. AFAIK the CAVA service is designed to help struggling businesses and works with MABS and Citizens Information.

Maybe find a tax advisor to work with you although until you identify how to monetise the service I’m not sure how that’ll work.
 
OK. I've redesigned the assessment tool and I've completely overhauled the File your Own Tax Return tutorial.

It now includes video, screenshots, step-by-step instructions and advice.

Thanks so much for all your feedback guys. Invaluable.
 
I wish to make this the number 1 web resource for PAYE workers who wish to submit their own Income Tax Return.
 
You must log in or register to reply here.
Back
Top