I think you really firstly need to know how much an hour you need to charge and then calculate how much time you've spent on each matter. A stop watch helps!
I mainly only complete clients/Trusts Tax Returns, with a smattering of general Tax advice.
I work from home, part-time and have about 60 clients, split between private ones with fairly straight forward affairs (no businesses or companies) and Trusts (several Discretionary ones) for which I also prepare Annual accounts for about half of these. I charge £160 per hour with RPI annual increases-except for last year when I thought because interest rates were so low that most client's incomes had fallen. Most private clients are charged, on average between £200 and £250, mainly depending on CGT dealings. Most Trusts are charged, on average between £350 and £500. I have had most of my clients for over 25 years, they were former clients of my previous firm when I managed their investments and they all seem to be happy to continue!
When I used to work in a firm of solicitors in London 50 years ago, the partner, for whom I worked, used to drop a client's file onto the floor to see how much impact it made, before deciding on the amount of the fees! Hopefully, we've all moved on since but you still can't just guess the fees based on the type of client you are dealing with. Although some element of responsibility can still be applied for certain clients, where the affairs are not straight forward.
Screen resolution of monitor changes on start up of PC
Thanks Mike. I have looked at the \basevideo option and it was already unchecked! My system is MS Windows XP Home edition Version 2002 Service Pack 3. Any other suggestions?
Furnished holiday home letting I did claim under the Errors and Mistakes provisions for 2002/03 to 2005/06 as suggested in a telephone conversation with a Technical adviser on an HMRC Help Line. I also made a written claim to amend 2006/07 and 2007/08 Returns.
Tax Calc So easy to use and inexpensive. I have been using Tax calc in various forms for about 10 years without any problems. Excellent value. The help desk is superb.
My answers
Fees- too cheap?
I think you really firstly need to know how much an hour you need to charge and then calculate how much time you've spent on each matter. A stop watch helps!
I mainly only complete clients/Trusts Tax Returns, with a smattering of general Tax advice.
I work from home, part-time and have about 60 clients, split between private ones with fairly straight forward affairs (no businesses or companies) and Trusts (several Discretionary ones) for which I also prepare Annual accounts for about half of these. I charge £160 per hour with RPI annual increases-except for last year when I thought because interest rates were so low that most client's incomes had fallen. Most private clients are charged, on average between £200 and £250, mainly depending on CGT dealings. Most Trusts are charged, on average between £350 and £500. I have had most of my clients for over 25 years, they were former clients of my previous firm when I managed their investments and they all seem to be happy to continue!
When I used to work in a firm of solicitors in London 50 years ago, the partner, for whom I worked, used to drop a client's file onto the floor to see how much impact it made, before deciding on the amount of the fees! Hopefully, we've all moved on since but you still can't just guess the fees based on the type of client you are dealing with. Although some element of responsibility can still be applied for certain clients, where the affairs are not straight forward.
Screen resolution of monitor changes on start up of PC
Thanks Mike. I have looked at the \basevideo option and it was already unchecked! My system is MS Windows XP Home edition Version 2002 Service Pack 3. Any other suggestions?
Untaxed Foreign Dividends declared in Trust Tax Returns
Paula, thanks so much for this, it explains all! It appears that I have not been completing Box 4.2B!
Chapter 2 Of HMRC Notes
Surely this section would apply- last para on p7? Or, alternatively the normal rules for late claims & amendments?
Furnished holiday home letting
I did claim under the Errors and Mistakes provisions for 2002/03 to 2005/06 as suggested in a telephone conversation with a Technical adviser on an HMRC Help Line. I also made a written claim to amend 2006/07 and 2007/08 Returns.
Try web sites
Try www.Holiday-Rentals.co.uk or www.Holidaylettings.co.uk & search for similar properties in the area. There are also www.daltonsholidays.com & www.ownersdirect.co.uk
Tax Calc
So easy to use and inexpensive. I have been using Tax calc in various forms for about 10 years without any problems. Excellent value. The help desk is superb.