What to charge for prep/submitting VAT return?

Any ideas on what to charge for prepping/submission of VAT returns please?

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I have had a potential new client contact me looking for 2 years of VAT returns prepped and submitted (don't ask LOL)...  he is a farmer so will all be refunds hence HMRC not chasing him...  Anyway, I usually charge by the hour, but as this is a one off any ideas on what to charge per VAT return would be welcome.  EG what do Accountancy practices charge for submission of a VAT return?  I work as a freelance bookkeeper/administrator.  Thanks for your help

 

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Caroline
By accountantccole
09th Jan 2020 10:44

If you are having to do bookkeeping - hourly seems most sensible

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Replying to accountantccole:
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By Accountant A
09th Jan 2020 11:28

accountantccole wrote:

If you are having to do bookkeeping - hourly seems most sensible

The OP describes herself as a "freelance bookkeeper". I don't know whether that qualifies her to complete VAT returns.

There's no reference to who does the Income Tax returns which, presumably, will be affected by the VAT adjustments required. Seems odd that the VAT and IT are not dealt with by the same person.

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Replying to Accountant A:
RLI
By lionofludesch
09th Jan 2020 13:56

Accountant A wrote:

The OP describes herself as a "freelance bookkeeper". I don't know whether that qualifies her to complete VAT returns.

How many qualifications do you need to fill in a VAT return ?

Loads of business owners do it quite successfully on their own.

John the Plumber does it simply by taking photos of his receipts on his smartphone and uploading them using the free app.

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Replying to lionofludesch:
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By Accountant A
09th Jan 2020 17:36

lionofludesch wrote:

Accountant A wrote:

The OP describes herself as a "freelance bookkeeper". I don't know whether that qualifies her to complete VAT returns.

How many qualifications do you need to fill in a VAT return ?

Loads of business owners do it quite successfully on their own.

John the Plumber does it simply by taking photos of his receipts on his smartphone and uploading them using the free app.

Noticed a TV ad yesterday for one of the DIY accounting packages. It said something to the effect that it "checks your self assessment". Sounds impressive!

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Replying to Accountant A:
RLI
By lionofludesch
09th Jan 2020 17:48

Accountant A wrote:

Noticed a TV ad yesterday for one of the DIY accounting packages. It said something to the effect that it "checks your self assessment". Sounds impressive!

I might get that.

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RLI
By lionofludesch
09th Jan 2020 11:08

How many entries ?

How are his records presented to you ?

I'd be reluctant to give a quote without having some idea of how big the job was.

Then it's the simple equation of hours x rate = quote.

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By Vaughan Blake1
09th Jan 2020 11:16

You may be starting from a skip load of receipts (like most farmers) or a full set of balanced 'books'. Or the worst of both worlds, a full set of balanced books that are actually a total nonsense and unravel like a badly knitted cardigan when you start to look at them.

I would therefore go by the hour.

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By User deleted
09th Jan 2020 11:25

Thanks everyone - my thoughts too... charge by the hour. I know it will be starting from a load of receipts and most likely it will be a 'skip load' !! Unfortunately, he is a 'relation by marriage' and like most farmers 'tight' and always complaining about costs. I have told my other half that his bro in law will just have to suck it up when he gets his invoice handed to him LOL...

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By ireallyshouldknowthisbut
09th Jan 2020 12:02

Jennie,
do you actually know what you are doing?

if not, don't do it, full stop.

VAT, farming, incomplete records, a bookkeeper who is possibly 'acting up' beyond their normal work and a tight farmer looking for a bargain sounds very much like about the worst possible of all combo. Soon to be met with a post "my new farmer client had a family friend who 'works in accounts' do their VAT and make a right hash of it" type post.

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Replying to ireallyshouldknowthisbut:
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By Accountant A
09th Jan 2020 13:13

ireallyshouldknowthisbut wrote:

Jennie,
do you actually know what you are doing?

if not, don't do it, full stop.

VAT, farming, incomplete records, a bookkeeper who is possibly 'acting up' beyond their normal work and a tight farmer looking for a bargain sounds very much like about the worst possible of all combo. Soon to be met with a post "my new farmer client had a family friend who 'works in accounts' do their VAT and make a right hash of it" type post.

My thoughts too.

And it seems rather suspicious that the farmer wants someone to claim VAT back but hasn't anyone lined up to resubmit his income tax returns.

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Replying to Accountant A:
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By User deleted
09th Jan 2020 13:41

You have assumed a lot here!! But hey, thanks for your advice!! for your interest I happen to have a LOT of experience and the info will be going onto his accountant for tax return submission. Rather than get into an argument with someone who seems to be such a 'know it all' I will now ask for my post to be removed. I joined this site as I felt it was a good thing to have lots of like minded 'professional' people be they fully fledged Accountants, or bookkeepers like myself. Obviously your assumptions just make me rethink the 'professional' in that sentence!! FYI the family member involved happens to have lost his wife, a grandchild and his mother in very short succession in the last 2 years as well as being part carer for a disabled sister - believe it or not, for some people there are priorities over and above reclaiming VAT due from HMRC. WHERE in my original post did I even mention having no one lined up to resubmit income tax returns??? Please don't even bother answering as I won't be reading any more of your biased unsubstantiated and uninformed BS!

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Replying to User deleted:
RLI
By lionofludesch
09th Jan 2020 13:56

jenniejo wrote:

You have assumed a lot here!! But hey, thanks for your advice!! for your interest I happen to have a LOT of experience and the info will be going onto his accountant for tax return submission. Rather than get into an argument with someone who seems to be such a 'know it all' I will now ask for my post to be removed. I joined this site as I felt it was a good thing to have lots of like minded 'professional' people be they fully fledged Accountants, or bookkeepers like myself. Obviously your assumptions just make me rethink the 'professional' in that sentence!! FYI the family member involved happens to have lost his wife, a grandchild and his mother in very short succession in the last 2 years as well as being part carer for a disabled sister - believe it or not, for some people there are priorities over and above reclaiming VAT due from HMRC. WHERE in my original post did I even mention having no one lined up to resubmit income tax returns??? Please don't even bother answering as I won't be reading any more of your biased unsubstantiated and uninformed BS!

Good for you.

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Replying to User deleted:
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By Accountant A
09th Jan 2020 14:37

jenniejo wrote:

FYI the family member involved happens to have lost his wife, a grandchild and his mother in very short succession in the last 2 years as well as being part carer for a disabled sister -

And this is the same person who you were describing in derogatory terms??

" like most farmers 'tight' and always complaining about costs. I have told my other half that his bro in law will just have to suck it up when he gets his invoice handed to him LOL..."

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By ireallyshouldknowthisbut
09th Jan 2020 15:01

Another satisfied customer.

From the reaction I think I was not a million miles off. You wouldn't get shirty if you knew what you were doing.

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By Wanderer
09th Jan 2020 15:12

As the Op has said they are going to remove their post:-

jenniejo wrote:

I have had a potential new client contact me looking for 2 years of VAT returns prepped and submitted (don't ask LOL)...  he is a farmer so will all be refunds hence HMRC not chasing him...  Anyway, I usually charge by the hour, but as this is a one off any ideas on what to charge per VAT return would be welcome.  EG what do Accountancy practices charge for submission of a VAT return?  I work as a freelance bookkeeper/administrator.  Thanks for your help

 

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