I was browsing an accountants website today and their charge for a subcontractor tax return is £50 dearer than a self employed one. I actually find it quicker to complete straight forward accounts and tax return for subbies than I do for general self employed, and charge accordingly. Maybe it's just that the majority of mine are simple (12 x income plus a few receipts and mileage, job done)
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I was browsing an accountants website today and their charge for a subcontractor tax return is £50 dearer than a self employed one. I actually find it quicker to complete straight forward accounts and tax return for subbies than I do for general self employed, and charge accordingly. Maybe it's just that the majority of mine are simple (12 x income plus a few receipts and mileage, job done)
Hi John
I agree, I find doing the subbie accounts a lot easier and quicker than most of my sole traders and certainly would not be charging them extra
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Whats going on? The 'recent posts' tab seems to have moved across the page and I keep aiming my mouse at the far right of my PC screen and missing it. Will have to concentrate to click the right part of the screen now!!!!!!!!
As you know - Im not a fan of the subbies. Maybe cos Ive had awkward bugger ones. So I would price them higher as I see the work as a royal pain. In fact, no these days I just dont quote. Wonder if the site you've looked at is aiming to price them out! I do different pricing for all my clients anyway.
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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
Whats going on? The 'recent posts' tab seems to have moved across the page and I keep aiming my mouse at the far right of my PC screen and missing it. Will have to concentrate to click the right part of the screen now!!!!!!!!
Hi Joanne
I noticed that this afternoon, and I just thought it was a browser wobbly, but it's the same on my home PC. Looks like the fonts are a bit smaller, or the spacing's been reduced, can't really tell.
I have a set price for subbies up to a certain amount of paperwork, but for general self employment I charge an individual price for bookkeeping and a set price for the tax return
Thanks Doug, the accountant in question wasn't a million miles from you, and I was perusing after seeing a post from him on aweb. What caught my eye was a set price for sole trader tax returns, and a big blurb saying CIS subcontractors £50 extra. Like Joanne said, it could be a deliberate attempt to put them off, I hadn't thought of that.
-- Edited by Leger on Thursday 5th of April 2018 10:41:21 PM
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
We have a considerable number of Sub Contractors and generally find them quicker than the sole trader with very little input from us although not happy when Statements are received and the Contractor has calculated the tax incorrect due to materials and VAT for example.
The other issue that takes time is missing Statements. Maybe its just our clients, but maybe 20% have had problems in obtaining Statements in the past.
Missing statements can be a problem yes. I get email permission from the client then contact the contractor direct. I find this quicker than getting the subby to do it.
I had to smile this weekend though. Client sends me 23 photos of statements from the contractor, all with the deducted tax hand written. I asked did they not send him a statement of income and deductions, which was promptly followed by a full A4 sheet of income and tax deducted. He could have saved himself 23 photo's there lol.
I'm not too worried by incorrect tax deducted, as that will balance up against HMRC records anyway, although I had a rather peed off regular client last year when he didn't get his normal rebate as the contractor had paid him mileage but not deducted tax. He'd already planned his holiday!!
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
