One off CGT work

Fee level

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Afternoon all,

I'm sure I'm not alone in this but I've been receiving more and more requests from landlords who have sold up and want me to do the necessary work around the capital gain and reporting.

Now these taxpayers have previously completed their own tax return and are unlikely to require our services in future. Considering the on boarding costs I don’t really want to charge anything less than £500 + VAT. I'm in the South East but wondering what other people are charging for this type of one off work.



Replies (13)

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By Rammstein1
02nd Sep 2021 16:24

Sounds about right to me.

Thanks (1)
By Paul Crowley
02nd Sep 2021 16:31

The issue is once off
So £400 to £500 is where I pitch it,
Definitely £500 if husband and wife joint property sale

Thanks (1)
By Slim
02nd Sep 2021 16:34

Thanks both.

Maybe it is me but I find the first year/one off work isn't very efficient, it takes a couple of goes before everything slots into place.

Thanks (0)
By sarahg
02nd Sep 2021 16:43

I have been wondering this too, and this is ball park with what I was thinking

What if you already do their returns - how much are you charging then?

Thanks (0)
Replying to sarahg:
By Paul Crowley
02nd Sep 2021 16:59

A judgement call
If a director of a company nil, provided I am happy with client and the fee covers the the usual time
If existing fee is £300 or less then £250 probably

Thanks (1)
By ireallyshouldknowthisbut
02nd Sep 2021 16:57

I was doing them at about £300+VAT and regretting it earlier in the year. As you note there is no repeat work and just getting it all set up and dealt with is a pain even if the comp is 5 minutes. I decided in the end the hassle was too high and have since declined doing any new clients like this.

For existing clients I am doing them for IRO £200+VAT.

Thanks (2)
Replying to ireallyshouldknowthisbut:
By Paul Crowley
02nd Sep 2021 17:06

I always offer the CGT comp (on excell) at a trivial price if client does his own submission.
Not been taken up yet
I am tempted to follow your opinion as they are more trouble that they are worth and take up so much time with so many questions.
And they all consider that my time is without value.

Thanks (0)
Replying to Paul Crowley:
By ireallyshouldknowthisbut
02nd Sep 2021 17:37

Its another stunning endorsement for "making tax difficult" from HMRC.

Too hard for the punters to DIY
Too much hassle for busy accountants to deal with due to HMRC's systems

Presumably many tax payers are going to just shrug their shoulders and put it on their own SA's next year. If the going rate is £600 inc VAT and the max fine £700 for most clients then you might as well pay the fine or get the return in before the 12 months is up and its only £400. Assuming of course HMRC impose it.....

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By Wanderer
02nd Sep 2021 17:29

I doubt if I'd bother taking them on!

You need to know the full history, costs, occupation, dates etc of the property together with a reasonable knowledge of their current year income tax position.

That, together with the on-boarding costs makes it not worth it.

Only if there was some ongoing benefit would I consider it.

Thanks (2)
By SXGuy
02nd Sep 2021 19:44

I'm seriously under charging based on the replies. Least I know now!

Thanks (2)
paddle steamer
02nd Sep 2021 21:26

Maybe fee needs to reflect the risk /reward , possibility of making a mistake and getting sued.

Given the way questions re CGT and property, and the relevant information for same , get presented on Any Answers (like blood from a stone) maybe write down all client answers re your questions, get client to sign it and gauge your fee based on how comfortable you then feel.

Outside tax planning work and using up losses efficiently, CGT errors re property must be quite high up in the payout stakes for PII providers.

Thanks (0)
By williams lester accountants
03rd Sep 2021 13:15

We have been quoting £995+VAT for this.

Thanks (1)
Replying to williams lester accountants:
By Matrix
03rd Sep 2021 13:27

Quoting or charging? I have also done (lower) quotes and don’t tend to hear back.

Thanks (0)