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Self Assessment Return for ER (MVL) - Extra work on SA return?

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    Self Assessment Return for ER (MVL) - Extra work on SA return?

    Hi,

    I am currently going through MVL of my business and plan to liquidate it before 3rd March. My accountant is charging me for the remaining tax period (£450+VAT) as they are filing my CT return early. They are saying that they would have charged me this much money if I was operational for a year so tax return can be filled only when payment for a year is made.

    My accountant has now asked for extra £300+VAT to file my self assessment return with ER disclosures saying there would be additional work.

    Does anyone know what additional work may be required in Self Assessment return for my accountant to charge me extra?
    I have been paying £75+VAT a month to my accountant for last 5 years and that included Self Assessment return too but now that I am liquidating he is asking for money to file SA. This is equivalent to fees of 4 months that my business would have been paying to him.

    Thanks.

    #2
    Originally posted by NoviceContractor View Post
    Hi,

    I am currently going through MVL of my business and plan to liquidate it before 3rd March. My accountant is charging me for the remaining tax period (£450+VAT) as they are filing my CT return early. They are saying that they would have charged me this much money if I was operational for a year so tax return can be filled only when payment for a year is made.

    My accountant has now asked for extra £300+VAT to file my self assessment return with ER disclosures saying there would be additional work.

    Does anyone know what additional work may be required in Self Assessment return for my accountant to charge me extra?
    I have been paying £75+VAT a month to my accountant for last 5 years and that included Self Assessment return too but now that I am liquidating he is asking for money to file SA. This is equivalent to fees of 4 months that my business would have been paying to him.

    Thanks.
    I don't think it's a huge amount of work. £300 seems excessive IMO.
    You could google it and get this How to Claim Entrepreneurs’ Relief - Ridgefield Consulting

    My accountant does my SA as part of the bundle but to be honest I could do it myself easily enough. So why not tell him to do the normal and add to the online portal and you'll do the extra?
    Or tell them how easy it is and that'll accept £50 for them to do it not £300.

    See You Next Tuesday

    Comment


      #3
      You don't' pay your accountant monthly per se. It's a yearly charge spread over the year. You pay him to do the work required in one year. People would just pay 75 quid a month at year end and quit other wise.

      Some accountants charge extra for doing returns early as they tend to do them all at the same time at the end of the year. SJD used to charge if you wanted it quicker. Your terms of reference will probably explain when they do it so anything different could come at a charge and then there is some extra effort calculating the extra ER that isn't standard as well.

      Good luck getting it done by 3rd March though.

      You given up contracting now? Don't intend to do it again (outside) for two years?
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by northernladuk View Post
        You don't' pay your accountant monthly per se. It's a yearly charge spread over the year. You pay him to do the work required in one year. People would just pay 75 quid a month at year end and quit other wise.

        Some accountants charge extra for doing returns early as they tend to do them all at the same time at the end of the year. SJD used to charge if you wanted it quicker. Your terms of reference will probably explain when they do it so anything different could come at a charge and then there is some extra effort calculating the extra ER that isn't standard as well.

        Good luck getting it done by 3rd March though.

        You given up contracting now? Don't intend to do it again (outside) for two years?
        Thanks Northernladuk. Thanks for your comments. I understand its annual charge so I have already paid it. I was just checking for ER calculation on SA. Is £300+VAT really justifiable?

        I stopped contracting last year and do not intend to return in next 2 years. I am on PAYE at the moment and would stay that way for some forceable future.
        I have already initiated liquidation process and would liquidate on 1st Mar using spicie route.

        Comment


          #5
          Originally posted by NoviceContractor View Post
          I stopped contracting last year and do not intend to return in next 2 years. I am on PAYE at the moment and would stay that way for some forceable future.
          .
          Thought they'd banned slave labour and human trafficking?

          It does sound a little steep although I seem to think it was £150 for SJD to do your yearly returns early so anything sub £500 doesn't come as a surprise.
          'CUK forum personality of 2011 - Winner - Yes really!!!!

          Comment


            #6
            I’m also an SJD customer and was quoted £450 + vat for closure accounts etc including the SA - so no additional £300. I hope they’re not going to reveal this later!

            Comment


              #7
              Originally posted by MLB View Post
              I’m also an SJD customer and was quoted £450 + vat for closure accounts etc including the SA - so no additional £300. I hope they’re not going to reveal this later!
              They pulled your pants down on your monthly cost though so they've made it already
              IS that normal closure or via MVL?
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #8
                MVL. The closure fee applies if I don’t use them for the MVL. If I do the cost is approx £2500.

                Comment


                  #9
                  Re pants down, yes to some degree but mitigated a little by quite a low monthly fee based on a price match (due to poor service a couple of years back) - which coincidentally they are now withdrawing...

                  Comment


                    #10
                    I pay my (very good) independent £88/month inclusive of VAT. He charged me £120 extra to work a couple of nights and a weekend to get my final accounts done in a rush for the liquidators.

                    Comment

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