Accountant for CGT calculation

[Yuri F]

I can do it for £400+VAT via my Ltd if it's for UK currency domestic tickers traded via public stock market dealing.
Not an accountant but just completed regular SA submission couple of weeks back, my annual sharedealing summary had 3 A4 pages and several mil. turnover (on regular one, not SIPP/ISA).
Need net consideration from each trade, number of shares, holding at the beginning of tax year, end of year, plus couple of months back and forward (for bed and breakfast rules), and if splits/consolidations were made on a ticker (extra probably about liquidated/taken over but last one would be included as regular closing transaction anyway). The rest is quite straight-forward, by tickers, then total, leaving aside unrealized (into next periods) gains (vs portfolio valuation). Normally quarterly certificates from broker would have have this data.

[Paralytic]

Yes, I'd be more than happy for them to do their own calculations, and I don't think I'd really be asking for a reduced fee, but 20 lines of a spreadsheet doesn't really feel like £1000+ ! I wanted to see their method and what they calculated.

If multiple accountants are asking for £1000, then it seem that is the market rate for what you are asking for. Not wanting to pay the market rate is asking for a reduced fee. If it is just "20 lines of a spreadsheet" then why not do it yourself? By wanting to "see their method and what they calculated", what you're actually asking for is their IP - the logic/algorithm.

I do think calling around a few companies is the best bet. You'll undoubtedly get someone willing to do it for less.

[Maslins]

If you can do the return yourself, then do it.

If you don't trust what you can do, pay someone to do it.

I can't see someone wanting to just "check your workings" for a reduced fee. If they get it wrong, you'd potentially have a claim against them, so it's not unsurprising that they'd want to do all the calculations themselves.

I think this post summarises the position fairly well sadly. Doesn't just apply to accounting/tax, could be plumbing/electrics, or I'm sure many IT wizardry things too. Any situation where you're happy with 90% of a situation, and just need help on the remaining 10%.

Whilst in theory the accountant could just look at the very specific bit you've asked them to, they running a few risks if they do. They still need to go through all the admin of taking you onboard as a client. If they take the lazy/quick option, and go with a standardised letter of engagement, it'll potentially make them responsible for the whole personal tax return (even bits they didn't look at), or possibly closely related items which you might attempt to argue "any reasonable professional should have picked up on that, even if they weren't directly asked to look at it". Potentially they can get around this problem by having a really specific, bespoke, letter of engagement...but again you're in the realms of lots of legally admin stuff in order to then just do a tiddly one off job. I imagine this is why most accountants will either say they're not interested in taking on the work, or want what you (understandably) consider a ridiculously high fee for looking at it.

I think therefore you're either going to have to DIY, with a bit of research and perhaps some informal assistance from a savvy mate who makes it clear they accept zero responsibility, or get a firm to do the whole job, even the bits that you're confident with, and pay a sizeable fee accordingly...or perhaps a third option, which is to get a "proper" firm involved, but with it being part of an ongoing relationship. That way they may be more prepared to deal with this little bit of work on the basis it's part of some ongoing relationship/income. However, I appreciate that cound in turn mean you paying for things you'd be very happy to DIY.

[northernladuk]

yes, I've reached out to a few already. As I asked in my first message, I was just seeking a recommendation. Sometimes I call everyone from yellow pages etc, sometimes I like to get a positive referral, gives me a bit more confidence in someone I've not worked with before.

I'll probably go back to calling people.

Have a look at the accountant recommendation sticky at the top of the forum for a start possibly.

[richy]

Regular accounts here won't go chasing work off the forums as it's flying very close to the rules. The ones you really want be with definitely won't in an odd kind of way.

Time to pick up the phone and start calling. It's not massively complicated what you are asking so most accountants should be well versed in it, not just contractor specialists.

yes, I've reached out to a few already. As I asked in my first message, I was just seeking a recommendation. Sometimes I call everyone from yellow pages etc, sometimes I like to get a positive referral, gives me a bit more confidence in someone I've not worked with before.

I'll probably go back to calling people.

[richy]

I think you're expecting too much.

If you can do the return yourself, then do it.

If you don't trust what you can do, pay someone to do it.

I can't see someone wanting to just "check your workings" for a reduced fee. If they get it wrong, you'd potentially have a claim against them, so it's not unsurprising that they'd want to do all the calculations themselves.

Yes, I'd be more than happy for them to do their own calculations, and I don't think I'd really be asking for a reduced fee, but 20 lines of a spreadsheet doesn't really feel like £1000+ ! I wanted to see their method and what they calculated.

[northernladuk]

Hello Lance,
Yes, there are a lot of company accountants listed. I was hoping an accountant would reply to this advert who wanted the work. A motivated applicant, is better than me ringing around.


I already called a few, some of those firms said it was too small, or they wanted ~ £1000+VAT to do the sums. It's only one page of A4 transactions to do the sums on!

I do the return myself, just wanted someone to check CGT calc.

Regular accounts here won't go chasing work off the forums as it's flying very close to the rules. The ones you really want be with definitely won't in an odd kind of way.

Time to pick up the phone and start calling. It's not massively complicated what you are asking so most accountants should be well versed in it, not just contractor specialists.

[Paralytic]

Hello Lance,
Yes, there are a lot of company accountants listed. I was hoping an accountant would reply to this advert who wanted the work. A motivated applicant, is better than me ringing around.


I already called a few, some of those firms said it was too small, or they wanted ~ £1000+VAT to do the sums. It's only one page of A4 transactions to do the sums on!

I do the return myself, just wanted someone to check CGT calc.

I think you're expecting too much.

If you can do the return yourself, then do it.

If you don't trust what you can do, pay someone to do it.

I can't see someone wanting to just "check your workings" for a reduced fee. If they get it wrong, you'd potentially have a claim against them, so it's not unsurprising that they'd want to do all the calculations themselves.

[ladymuck]

Just a hunch but I can see a one-off being more expensive as there's no incentive in building a lasting relationship.

I'd be inclined to look at the ACCA site and find a member local to you.

[richy]

surely any accountant can do this?
There is an entire thread of accountant recommendations as a sticky at the top of this forum. Start there.
But if all you want is help for a return to be completed Jan 2022 then I'm not sure you want the sort of contractor we would normally use. Try the yellow pages.

Hello Lance,
Yes, there are a lot of company accountants listed. I was hoping an accountant would reply to this advert who wanted the work. A motivated applicant, is better than me ringing around.


I already called a few, some of those firms said it was too small, or they wanted ~ £1000+VAT to do the sums. It's only one page of A4 transactions to do the sums on!

I do the return myself, just wanted someone to check CGT calc.

[Lance]

Hello
I'm seeking an accountant experienced with Section 104 holdings, and CGT tax calculation for my personal tax return. Could anyone recommend an accountant? and an idea of cost. It's quite simple, not many transactions, but the pool and matching makes me think I better get a pro to help.

Thanks!

surely any accountant can do this?
There is an entire thread of accountant recommendations as a sticky at the top of this forum. Start there.
But if all you want is help for a return to be completed Jan 2022 then I'm not sure you want the sort of contractor we would normally use. Try the yellow pages.

[richy]

Hello
I'm seeking an accountant experienced with Section 104 holdings, and CGT tax calculation for my personal tax return. Could anyone recommend an accountant? and an idea of cost. It's quite simple, not many transactions, but the pool and matching makes me think I better get a pro to help.

Thanks!