Hi, just wondering how you charge for self assessment returns? I normally charge by the hour for accounts and payroll but have a couple of one off tax returns to complete which are very basic. Just employment income, employment loan and some self employed transactions.
Ah, right - so its just an add on this year for existing clients for doing their self assessments? Sorry another Q - would you have done the calculations for them normally re the capital allowances/adjustments they need to make? If yes and they have these then its probably just a marginal fee for completion (maybe charge them the equivalent of 2,3 or 4 times hourly as a fixed perhaps) or if you dont do that then you can load the price to allow for that. Use local rates as a guide - but only a rough guide so you dont over price the job, but dont whatever you do price it at the lower end (there are always people who will do this work for minimum wage - but we are worth so much more than that!) Work out roughly how long you think it will take you x hourly fee, but price it for them having the convenience of you processing it.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thanks Joanne. I have two new clients who have enquired about submitting their self assessments and am meeting one for the first time tomorrow. I hope it as simple as they claim it to be lols, will give them a quote based on time assessment etc as you suggested. My thoughts are if it is that simple why dont they do it themselves but I am sure I will find out soon enough.
Hi
Sorry think I've misunderstood. If they are new to you, then you have to complete their sole trader accounts and all those calculations too haven't you, so therefore need to make sure you build that into your pricing. Of course, that then depends on what answers you get eg how long in business/when is their year end/do you need to get info from previous accountants/what assets (need time to do the usual depreciation/cap allowances calcs (who has the fixed asset reg?), allow time for checking the bookkeeping (how are the records even kept). Take care you don't under price and end up doing it at a loss.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I will take care, dont worry. One I know is employed but runs workshops as self employed and has not carried out many of them but I will see tomorrow, thanks
