I know the subject of self assement tax return prices has been touched on before but I have been asked to give a price for completing a tax return for a sub contractor. He has only a couple of builders that he sub contracts to, only a few expenses to claim and maybe a capital allowance calculation for his car.
As I have never dealt with just a sub contractor before I was wondering what, you good people, on average would charge for this service including reconciling the CIS statements with invoices and with the income on the bank statements? Or would you price based on his turnover, if so what?
Self Assessment tax return for any business I calculate on the time I used from start to finish, sole traders, sub's, builders... I can't charge on turnover i.e. a shop keeper with hi volume receipt and invoices, while a professional person with hardly any invoices but his turnover is higher than the shop keeper, there for I charge per hour and it is up to the customer to work with me to reduce there bill, hope that will help..
There is usually very little work associated with a CIS subcontractor and you won't need to reconcile the income to bank statements. As for a capital allowance claim it will be easier to calculate the mileage as a lot of subbies do not keep all the paperwork required to claim for the running costs of the car. Besides has he completed a tax return before? If yes the motor expenses will have to be calculated on the same basis.
Therefore for a price just charge the same as a standard self assessment return.
I have a minimum of £150 + VAT, but try and avoid them as they are a pain in the backside - they trust their mates more than you and cannot understand it if their mate gets a refund but they have to pay tax ("erm, because you earned more?").
