How much should I be paying for self-assessment?

[bstar1]

I imagine that's a bolt on to a Ltd Co package? Ie I highly doubt they'd do a personal tax return for someone they have no other working relationship with, from scratch, for £50. From an accountant's perspective these are two very different propositions. There's a fair bit of admin involved in taking on a new client. Plus before they'll be happy submitting a return on your behalf, they'll want to satisfy themselves that the figures are broadly correct. If they've already dealt with your Ltd Co, including salary and knowing what dividends you took, they're typically 90% of the way there with the personal tax return.

£500 does sound a lot if you don't have anything complex. However do be careful to compare costs of something as a bolt on vs something as a standalone item.

We would tend to suggest if it's just one personal tax return, DIY probably is your best option. It's not worth an accountant's while to get involved with all the admin crap and risk of getting grief for possible errors (even where not the accountant's fault) for a very small one off fee.

Nope, Nixon Williams just did my SATR for 2018/19 with Foreign Income for £50 - £60 max Fact ! No Limited Co involved

[ladymuck]

I would suggest having a look within your online tax account and seeing if you understand the questions being asked of you. If you don't, then get an accountant to do it. If you do, then DIY.

It takes me about 15 mins to do my SATR as I have nothing complicated going on.

[Maslins]

Nope, Nixon Williams just did my SATR for 2018/19 with Foreign Income for £50 - £60 max Fact ! No Limited Co involved

Wow...if that's a one off and you have no other working relationship with them, then that's a bargain IMHO.

[Craig@Clarity]

Wow...if that's a one off and you have no other working relationship with them, then that's a bargain IMHO.

There's got to be more to this that what we're told. No way would I be doing an SATR with dividend income and investments for £50.

[Maslins]

There's got to be more to this that what we're told. No way would I be doing an SATR with dividend income and investments for £50.

I did think the same...glad another accountant on here to back me up on that so it doesn't just look like we massively overcharge!

[Paralytic]

I did think the same...glad another accountant on here to back me up on that so it doesn't just look like we massively overcharge!

Maybe you both massively overcharge

I too am surprised someone will do it for £50

[CryingSheep]

Maybe I'm not getting it...

If you ask an accountant to just FILL your SATR, surely they will just ask you how much was your income, dividends, other income with property or savings, etc., they won't check the figures are accurate!

How can that cost more than ~50£? Surely they won't waste more than 30 min on it...

Obviously if you can't (or don't know how to) provide those figures and you are expecting the accountant to 'find out' what they should be, then is completely different story...

Also agree that many accountants won't bother to do it for 50£

[Maslins]

If you ask an accountant to just FILL your SATR, surely they will just ask you how much was your income, dividends, other income with property or savings, etc., they won't check the figures are accurate!

How can that cost more than ~50£? Surely they won't waste more than 30 min on it...

Remember the submission would still be going through under the accountant's HMRC details, so whatever numbers are submitted will be linked with the accountant. So yes, the actual accounting work may well take 30mins or less, but it's about the responsibility that goes along with it.

If you like analogies...imagine saying to a plumber "I want my new boiler connected up, all you need to do is put that wire in there and that pipe there. Once you've done those, please complete the gas safe (or whatever it's called) certificate." The plumber is highly unlikely to be prepared to just do exactly what you say and sign it off as their work, without checking a whole bunch of things first.

There have been plenty of occasions where we've given someone a few informal pointers (inevitably with some modest caveats) about how to DIY their tax return for free, but on the basis they submitted it themselves.

[craigy1874]

Nope, Nixon Williams just did my SATR for 2018/19 with Foreign Income for £50 - £60 max Fact ! No Limited Co involved

Absolutely ridiculous fee. Either they have the most junior staff doing this who don't have a clue or they are going to go bust soon.

Wouldn't touch even the most simplest of Tax Returns for that fee.

[Craig@Clarity]

Absolutely ridiculous fee. Either they have the most junior staff doing this who don't have a clue or they are going to go bust soon.

Wouldn't touch even the most simplest of Tax Returns for that fee.

What? You mean your tax software licence, indemnity insurance, staff costs, business running costs and AML procedure costs aren't free?