Accountancy fee tax return

Accountancy fee tax return

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Hi All, a client who has 2 different types of pension income only, I can't see that I can deduct my fee for the tax return preparation against this but wanted to double check this is correct?

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By bernard michael
13th Sep 2014 13:30

You can't deduct it

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By new2accts
13th Sep 2014 13:31

Thanks

I thought so, having a sat morning doubt!

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By SteveOH
13th Sep 2014 15:02

Only if the Tax Return shows that a repayment is due

I think I know what you mean but you can only ever "deduct your fee" if the Tax Return shows that a repayment is due. And even then, your client has to agree that the repayment can be made to you. And even then, the total repayment would be made to you from which you would deduct your fee with the balance being transferred by you to your client.

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Replying to johnt27:
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By duncanedwards
13th Sep 2014 15:37

Not sure ...

SteveOH wrote:

I think I know what you mean but you can only ever "deduct your fee" if the Tax Return shows that a repayment is due. 

I was trying to think what the OP meant.  Yours seems like a sensible suggestion and I really hope that was what was intended!!

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By bernard michael
14th Sep 2014 10:57

I took it that the OP was asking whether his fee could be a tax deductible expense in these circumstances, which it cannot. Perhaps he could enlighten us

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By SteveOH
14th Sep 2014 17:59

Just goes to show...

...how important it is to make the questions clearly understood. Otherwise it just wastes everyone's time.

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