Fee for finalising Property Rental Accounts & SA Tax Rtn for H&W | AccountingWEB

Fee for finalising Property Rental Accounts & SA Tax Rtn for H&W

Hi all. This question seems to come a lot to us in these recessionary times & we thought we will get views from our other colleagues on the web.

We have been approached by a client to finalise the Tax Rtn 2012 of H&W and between them they own 3 BTL residential properties. Both work on PAYE and even after inclusion of their rental profits, they will each be under basic rate tax band (so little tax planning involved here). They have no other source of income. Their record keeping is reasonable and their expense receipts are not too much too. Of course they have the normal monthly letting statements, Tenancy agreements, Bank Stat, Mortgage Interest Stat, Completion Stat, etc No record maintained on spreadsheets or Accting software of their rental income & expenses. We have a lot of work on at present but can accept this assignment as we are ahead of our targets. Based on outskirts of London, we were planning to charge a fee of £375+VAT per person. The client thinks this is too much 'cos once we have established the income & exp of rental profits, the other is a mirror copy except of course for their respective PAYE income which does not take too long to enter on their SA Tax Rtn. The VAT in our fee is biting them but we are VAT registered so cannot do anything about that. Do you think they have a point? Would you charge less or more than that? How do you justify your fee? We do not want to lose the client but then do not want to encourage other clients that pay us low fee too.

 They claim that their present Accountant is a bit further away from them so they are looking for someone local and that we are to them.  

Your views wil lbe highly appreciated .

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I'd do it for about £400 +

thomas |

Or ask them to put all the

thomas |

You are right thomas but..

AccSec |

£500 + VAT

JCresswellTax |
JCresswellTax's picture

About right

LyneT |
LyneT's picture

£500 to £600 + VAT

dreamcatcher |
dreamcatcher's picture

how long is a piece of string?

NH |

Thanks for everyone's contribution

AccSec |

What happened to honesty?

pedant |
pedant's picture

That is correct

AccSec |

It doesn't matter

pedant |
pedant's picture

income is marginal beyond a certain point

carnmores |


ShirleyM |
ShirleyM's picture

We just had

Canary Boy |
Canary Boy's picture


Red Leader |
Red Leader's picture

I saw something interesting too

AccSec |

Waaayyyy Toooo Looow Feeeeees

rhangus. |

i sympathise with you..

AccSec |

Do not forget to check ownership at the Land Registry

Chris Smail |
Chris Smail's picture

Is it necessary to check the

carol_ine |

Thinking of this from a client’s viewpoint.

ringi |

We bill based on time taken


500 + VAT ????? er im a bit lost ere

Paul Cleverley |
Paul Cleverley's picture


Monsoon |
Monsoon's picture


Paul Cleverley |
Paul Cleverley's picture


Paul Cleverley |
Paul Cleverley's picture

Before claiming I am a bot, go and look at my posting history!

ringi |

£500+vat is what JCresswellTax would charge

susanna russell-smith |
susanna russell-smith's picture


Wilts |

Apology to ringi & others.

Paul Cleverley |
Paul Cleverley's picture

500 + VAT is what .....

Paul Cleverley |
Paul Cleverley's picture


turtleburgers |