[kiral1404]

Got an accountant coming round tomorrow pm, to talk about my first tax return.

Rough guide how much do you pay for an accountant?

I've typed out each weeks work and put receipts into weekly folders and filled in one of those collins accountants books as much as i could so hopefully that should reduce costs.

[rosskesava]

For a one man business and if the book keeping is in order, £300 to £400.

I may be wrong though.

I have always found an accountant worth the money in the long run but remember there are 2 types of accountants, a registered one and a chartered one.

Firstly it's important to have one or the other and secondly, a chartered one will cost a bomb.

Don't use an accountant who is not either registered or chartered. Whatever you do, make sure they are qualified and don't fall for the nicely said pitter patter from an un qualified one and I speak from experience because if there is a mess up with the taxman, the accountant isn't liable, YOU ARE.

Cheers

[Sir Squeaky]

£300-400?

Used to cost me £130 until two years ago when I started doing it myself.
Free now.

[rosskesava]

How much is not having to bother about accounts worth? 

We use a book keeper to get all the accounts in order and then an accountant to do all the 'stuff' for us.

OK. I may have given a higher figure but I was guessing based on our own business.

Do my own accounts? H-E-L-P..... 

[kiral1404]

I'll let you know what they charge tonight, Thanks for the guide

[paul mather]

I pay £200 for mine & I reckon he saves me more than that on my tax bill.

[Moderator David@stives]

£200 for me

[Easyclean Windows]

£650 but thats for my own tax return,my business tax return and my wifes so not bad really

[wimbledonhandyman]

Mines around £240 plus the vat - worth it for the advice I get. It only gets expensive if you don't keep good records and they have to sort it all out for you!

Good point earlier about them not being responsible - You sign the tax return form and therefore are making the declaration!

Always find one by recomendations from others!

Steve

[s.hughes]

Including vat £381.88
I can get it cheaper but I like the accountant, he runs a proper accounting firm from offices and has known myself and many of my w/c mates for years.
Lets face it, we always want to get paid well for doing a good job so why shouldnt they, and when it comes round to the tax man, well then I wouldnt mess with them.
If I did my own accounts then I wouldnt claim on half the things that I could simple coz I wouldnt have a clue and remember that the accountants fee is all deducted from your expenses.

[Roy Harding]

Mine charges £450 incl vat this is for my tax return and my wifes.

Roy

[DREAM CLEAN]

Mine costs 750 pa that includes tax/vat/wages for 6 people

nick

[s.hughes]

Mine includes Tax return plus the misses works part time which means I can claim a small amount on her. He takes all her pay slips and sorts it all out, even the tax credit he sends a letter saying which figure to put in each box so its done proper.
At the end of each year he sends me a letter to inform me that although the accounts are complete the tax man can ask to see them at any time and any year that he chooses although I think its only 5 years he can ask to see. So keep them safe. You just never know.

[Paul Coleman]

I pay about £220.
I am a sole trader.
I make it easy for him by keeping all my receipts in monthly cellophane sheets and I list them out from my spreadsheet.
I do similar with my income and record it daily.
You should keep records of each individual transaction (in case the IR ever ask to see them) but an accountant will probably only be interested in daily or weekly totals.

[Helen]

Chartered - £180.00 per business per year and on call for any help any time

[Paul Coleman]

Mine includes Tax return plus the misses works part time which means I can claim a small amount on her. He takes all her pay slips and sorts it all out, even the tax credit he sends a letter saying which figure to put in each box so its done proper.
At the end of each year he sends me a letter to inform me that although the accounts are complete the tax man can ask to see them at any time and any year that he chooses although I think its only 5 years he can ask to see. So keep them safe. You just never know.

I think it's 6 years rather than five.  In fact it works out at 7 years because it's 6 plus the one you are in.
Somebody correct me if I'm wrong as I'm going by memory.

[s.hughes]

I'm sure its only 5 + the year your in so in other words 6 years. But I store all my accounts over the years in my loft. I should really get one of them filing cabinets thats fire resistant.

[kiral1404]

He came round earlier and he said £500. When i said whoa he said £400.

I'm happy enough with tha,tas it's my first year incl a previous job and lots of capital allowances.

Found out a hell of a lot from him and reckon he'll save me half that in just 2 things alone he said he could claim extra for me.

Also out of interest to some of you guys possibly.

I told him of my plans to take on my stepson on a sub-contractor style basis and he said its do-able.

If I hire the van and equipment to him but the business is his and he deals with the customers and the money then i just invoice him weekly / monthly for the hire etc its ok