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Capital Gains Fee

Please what is the average fee to charge for capital gains tax computation

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I want to find out what is the avearage to charge a recent client for capital gains tax computations 

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By williams lester accountants
09th Jul 2021 12:56

£1k.

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By frankfx
09th Jul 2021 12:57

The average fee?

define average?

Mode . median , mean.

City of London £ rates or in your village £ rates ?

or the client's city, Dubai?

depends on tower block.

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By ireallyshouldknowthisbut
09th Jul 2021 13:06

I have been charging £200 or £250+VAT for a single name, for H/wife £300 for existing clients for basic cases and quite frankly its not enough for the extra time, but many of these clients are on £300-500+VAT for the whole return or pair of returns so its hard to charge much more without a sharp intake of breath from clients.

For new clients its £400-500+VAT, not had many takers (which suggest I am high) which in turn suits me as usually there is some problem with the thing that causes grief along the line. ie the BR tax payer with variable income, or the "but these are capital items" ie new carpets of a kitchen or something type stuff. There always seems to be something cropping up away from the obvious issues around HMRC's rubbish interface.

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Replying to ireallyshouldknowthisbut:
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By Paul Crowley
09th Jul 2021 13:14

In the past would either accept the time loss for a good client, we lose more time than a CGT comp on ordinary annual issues, or charge a token £100 extra
But CGT was quick and simple in the past. Did it on a spreadsheet and just added to the return

Now charge around £250 for the one building even if 2 owners.

Do not want to bother at all with a once off
Usually that person has done tax returns for years for the rent income and on the sale goes out of self-assessment completely. Not likely to get a client, loads of AML and set up time. Just not worth the angst.

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Replying to ireallyshouldknowthisbut:
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By Lhc2020
12th Jul 2021 13:31

Thank You For your Professional response, depict a sense of community that shows no one knows it all. many thanks

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By Tom Cross
09th Jul 2021 13:03

Doesn't the charge depend on the level of expertise and the length of time that the exercise has taken?

If we accept that criteria then, may I suggest that you compute an equivalent hourly rate and charge accordingly.

If you are capable of completing the task, you are more than capable of applying a proportionate charge.

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Replying to Tom Cross:
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By Lhc2020
12th Jul 2021 13:41

Thank you, makes sense.

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By Tax Dragon
09th Jul 2021 13:06

20%.

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Replying to Tax Dragon:
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By Mr_awol
09th Jul 2021 14:17

Is that 20% of the gross, or the net?

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By Wanderer
09th Jul 2021 13:08

Could you possibly give any less information than is in your question if you tried!

You don't even say what the asset is, let alone any other relevant information.

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Replying to Wanderer:
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By Tax Dragon
09th Jul 2021 13:15

I fear the computation will be prepared on the same basis.

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Lone Wolf
By Lone_Wolf
09th Jul 2021 13:51

5 bazillion Panamanian balboa's.

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Replying to Lone_Wolf:
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By Mr_awol
09th Jul 2021 14:17

Discount for cash?

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By Duggimon
09th Jul 2021 14:00

For a single property sale with all the necessary information provided up front and a computer literate client who can set up their online account and authorise me to act I'll charge £150.

Of course if they're not an existing client there's a lot of other stuff to get through, so nobody's walking through the door and getting a return for £150, maybe £250 - £300 for a walk in one off by the time the consultation and AML stuff is done.

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Replying to Duggimon:
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By Lhc2020
12th Jul 2021 13:34

Thank You for taking time to respond. Your answers provides a guide and shows professionalism. Thanks

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By I'msorryIhaven'taclue
09th Jul 2021 14:12

Is this average fee for an average capital gains tax calculation?

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By Mr_awol
09th Jul 2021 14:18

Lhc2020 wrote:

I want to find out what is the avearage to charge a recent client for capital gains tax computations 

Recent client, or potential client?

If youve done the work already then you really should have thought about the prices earlier

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By Paul Crowley
09th Jul 2021 14:23

Most recent
Did all the work
Then person mentioned making a loss in the tax year to 5 April 2021 on the other property

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By SXGuy
09th Jul 2021 14:32

The average cost is..

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By ireallyshouldknowthisbut
09th Jul 2021 16:01

Why is everyone being such a dick about this question?

Its seems perfectly reasonable to me.

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Replying to ireallyshouldknowthisbut:
RLI
By lionofludesch
09th Jul 2021 16:15

ireallyshouldknowthisbut wrote:

Why is everyone being such a dick about this question?

Its seems perfectly reasonable to me.

[chuckle]

The bottom line is that assembling the information usually takes up most of the time.

The actual computation takes five minutes once you have everything in front of you.

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Replying to ireallyshouldknowthisbut:
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By Wanderer
09th Jul 2021 16:46

ireallyshouldknowthisbut wrote:

Why is everyone being such a dick about this question?

Its seems perfectly reasonable to me.

Well you answer (looks like it) assumes that it is a residential property gain.
That's one hell of an assumption to make before quoting.
Last month I was dealing with a share disposal. Saved the client £100,000. That's the sort of reason I tend to at least establish the facts first.
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Replying to ireallyshouldknowthisbut:
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By AdamMurphy
09th Jul 2021 22:26

ireallyshouldknowthisbut wrote:

Why is everyone being such a dick about this question?

Its seems perfectly reasonable to me.


Isn’t that how most AW threads end up?
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Replying to ireallyshouldknowthisbut:
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By Tax Dragon
10th Jul 2021 06:31

Who's being a dick? On average, our fee comes out at 20% of the total*. Individual fees range from £Nil to... actually I don't know the largest (there isn't an upper limit), but it'd be many thousands of pounds, if you're including all the CG work. But then the final computation and submission is probably a tiny fraction of that, if that's the bit we're discussing?

*That's a guess more than an estimate. It's certainly not a measurement. What's the point of calculating your average CG fee?! It's not like it's annual work.

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Replying to Tax Dragon:
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By Lhc2020
12th Jul 2021 13:45

Thank you for this response. a professional answer that is very helpful. appreciate your time to respond.

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By Tax Dragon
12th Jul 2021 14:01

Lhc2020 wrote:

Thank you for this response. a professional answer that is very helpful. appreciate your time to respond.

My pleasure.

You do realise I hope that I have no idea what the question was, but I'm glad my answer helped. (In future, you might want to think about the fee before you do the work.)

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Replying to ireallyshouldknowthisbut:
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By meadowsaw227
12th Jul 2021 10:55

Perhaps "everyone will stop being a dick" when there is a proper question to answer ! .
The question is no different to blindly asking how much to charge for a SA return.

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Replying to ireallyshouldknowthisbut:
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By Lhc2020
12th Jul 2021 13:35

Thank you for your response, You seem to fully understand the sense of community this forum provides. thanks for being professional.

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RLI
By lionofludesch
09th Jul 2021 16:21

The OP has posted four questions, three of which have been asking for advice on what to charge.

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Replying to lionofludesch:
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By memyself-eye
09th Jul 2021 22:12

and the fourth?
or should that be forth?
Or is that a bridge too far?

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Replying to lionofludesch:
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By Mr_awol
10th Jul 2021 08:24

Wonder if the OP lists ‘business advisory services’ on their website, as one of their offerings.

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Replying to Mr_awol:
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By I'msorryIhaven'taclue
10th Jul 2021 11:01

Coming soon: How much is the average fee for business advisory services?

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Replying to I'msorryIhaven'taclue:
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By Mr_awol
10th Jul 2021 12:49

And then

“How much should I charge as a practice guru”

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Replying to Mr_awol:
ALISK
By atleastisoundknowledgable...
11th Jul 2021 22:24

Followed by “how to double fees and treble your profit”

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Replying to atleastisoundknowledgable...:
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By Mr_awol
12th Jul 2021 12:08

And then:

How to cut costs by reducing unnecessary software subs, improve staff productivity by reintroducing timesheets, and reduce errors by reviewing the bk data properly and not just slamming the results of a bank feed into accounts prep software.

This step wont come along for about five years or so, though.

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Replying to lionofludesch:
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By paul.benny
12th Jul 2021 13:11

lionofludesch wrote:

The OP has posted four questions, three of which have been asking for advice on what to charge.

And they have been too busy to engage with responses to three out of four of the questions. Since the OP seemingly doesn't value the answers, there seems little point in asking.

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Replying to paul.benny:
RLI
By lionofludesch
12th Jul 2021 13:23

paul.benny wrote:

And they have been too busy to engage with responses to three out of four of the questions. Since the OP seemingly doesn't value the answers, there seems little point in asking.

Well, no - bearing in mind that it's pretty much unanswerable.

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Replying to lionofludesch:
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By Lhc2020
12th Jul 2021 13:49

Hi, It is not advice on what to charge but to feel what others charge. The forum is meant to be a platform to have "Professionals" share ideas, There is no need to take offence to any s question, you are not under any obligations to respond. if you feel the question is not worth your time, Please ignore rather go the route of being unprofessional

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