Spec me an accountant

Hellsmk2 said:
I've done my own self assessment for the past decade, but this year I used an accountant recommended to me from a colleague.

They went through my past couple of years of details and ended up claiming for a few things I didn't know about. I ended up getting a decent amount back from HMRC. I won't be doing my own again as it was stress free.

Contact: [email protected]
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Nice, what did they claim for that you hadn't known about specifically?
 
drakioned said:
It's dumber than that.

I paid too much money into my pension and I have to pay tax on the excess, but I want someone who knows what they're doing to help me calculate the excess and correct the return.
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Have you used up your entire allowance in any of the past three years? Also if you are Ltd company owner then there is always the option to pay it as an employer contribution.

Ignyou haven’t used full allowance that is how I would do it, tax returns can be adjusted retroactively. Depending on the amount due, if it significant, then a good tax adviser would ve able to go!!
 
ilc72 said:
Have you used up your entire allowance in any of the past three years? Also if you are Ltd company owner then there is always the option to pay it as an employer contribution.

Ignyou haven’t used full allowance that is how I would do it, tax returns can be adjusted retroactively. Depending on the amount due, if it significant, then a good tax adviser would ve able to go!!
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Allowances used up from previous years already, unfortunately, but thank you.
 
EvilRob said:
Nice, what did they claim for that you hadn't known about specifically?
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I paid £360 for an accountant this year. I've not been self employed that long.
Few things they claimed for was use of house, internet, PPE, phone,
Tbh though I feel like I've done most of the work for them. I need to look at doing it myself.
 
Are you a DB member? If so the scheme will probably do the calcs for you here. If DC then it is very straightforward, you shouldn't need help.

Are you affected by the Tapered Annual Allowance? The Money Purchase Annual Allowance?
 
[FnG]magnolia said:
Out of interest and in your personal not professional opinion (if that matters), what is a likely range of costs for these services?
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"Pension taper problems" is quite a vague problem, but I don't think it will be hideously complex depending on the specific years (e.g., rules around annual allowances have changed in the not too distant past and could complicate things) and how far back calculations need to go.

For an existing client probably less than £500+VAT, maybe half that assuming doing some early year or current year calcs and with historical data, for a one off client I wouldn't do for any less. You've got all your AML admin to do which takes time and won't be recovered in future years for a one-off job. I'd potentially even say no thanks as it's a potential can of worms with little to no thanks for the effort.

Also - people think they pay for the time to do something. They don't. They pay for the years of knowledge and experience we have.
 
As a carpenter I think I'll start charging £500 to hang a door. Not for my time but for years of knowledge, skills and experience, tools. Takes longer than 30mins though.
 
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