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Legal, pensions and money

online tax return

(17 Posts)
Fennel Sun 06-Jan-19 18:05:07

Jan. has come round again, with the usual panic about filling in the online return.
We have one small rental property which has been more trouble than it's worth, but still need to send in a return.
I get very stressed, start shaking etc. It took me ages even to get onto the correct website this morning.
I'm thinking of getting an accountant to do it, husband probably won't agree.
Does anyone know how much an accountant charges? Nothing complicated, we usually end up not paying any tax, and have all up to date records.

Jane10 Sun 06-Jan-19 18:11:31

I always use an accountant for the same reasons as you! I'm a bit complicated having 2 names etc . The accountants bill is usually around £200. Worth it for me as they've saved me money over the years. Also for my peace of mind.It might be a bit late trying to find one now though. January is their very busiest time! Good luck.

M0nica Sun 06-Jan-19 18:12:57

Probably upwards from several £100. I used to own a rental flat, but sold it about 10 years ago. I paid an accountant to do all the capital gains calculations for me when I sold it and that cost me about £250.

Ilovecheese Sun 06-Jan-19 18:13:51

I don't know how much an accountant would charge but if the thought of doing it is causing you this much distress, it sounds like it would be money well spent.
If your husband does not agree to hiring an accountant, can he not fill in the tax return.

Perhaps next year, start to do the return before January, so you are not panicking, and there is usually someone you can talk to on the phone at less busy times of the year.

I usually do mine in May or June, to get it out of the way.

Buffybee Sun 06-Jan-19 18:17:22

My Son has a few Rental Properties and pays an accountant £350 to sort it all out for him.
The best advise it to find a individual accountant who works for himself and not go to a big firm of accountants. You can probably find them online.
For one rental it probably won't even be that much.
He also visits my son not the other way round.
It's really not worth the hassle and if it's stressing you out, get some help.

Melanieeastanglia Sun 06-Jan-19 18:36:52

You say your husband may not agree to using an accountant. Perhaps you could ask your husband to help you with the tax return or do it himself. Is this possible?

BlueBelle Sun 06-Jan-19 18:40:53

I had to do my online tax returns for the last few years before I retired as my job had to let me go but kept me on as self employed
I hated doing it, got in a real old pickle with some of the questions I used to put it off and off because it really stressed me so much but I persevered and did it each year and now I don’t have enough coming in to pay tax so I m ok it’s a huge relief

maryeliza54 Sun 06-Jan-19 18:41:24

You’re going to have to move sharpish though - are you on any community websites/ networks? You might well find someone retired on there by posting who is doing bits of partime work. A home visit is a great idea so you can easily get hold of any papers you need. Good luck

Fennel Sun 06-Jan-19 18:46:38

Thanks all - I told husband I was going to get an accountant to do it and he at once said I'll do it myself!
The trouble is, he has always left all these things to me as he's dyslexic/dyspraxic. But he really ought to try to do it because what happens if I go first?
And this aspect of our finances is in his name.

grannysyb Sun 06-Jan-19 21:52:00

If it's in his name let him do it! Our rentals are in both our names so we each have to file a return. We have a lovely man who does it, about £350 for both returns. We have to give him all the paperwork by August otherwise he charges more! I'm sure he still has clients who leave it late. Really glad to have him do it, a weight off my mind.

Bigred18 Sun 06-Jan-19 22:08:21

We have lots of tax accountants here in Australia, all they do is tax returns. I paid about $120 for mine. I didnt do it myself because I have a small uk pension to include which made it a bit more complicated. I'd suggest a small and independent agent rather than a large company.

alexa345 Thu 26-Jan-23 07:49:27

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dragonfly46 Thu 26-Jan-23 07:52:39

We pay our accountant £300 as our tax affairs are quite complicated.

karmalady Thu 26-Jan-23 07:58:56

I used an accountant until last year, affairs were slightly more complicated after my husband died. I kept the accountant he used. It cost me around £150 and was money well spent

Affairs became normal last year and I did my first online return ever and I was paranoid about being absolutely correct. I do it early, during summer. HMRC must read what is put in because I got an unexpected tax rebate. Online it saved me £150. With hindsight, it was easy but if I had a rental, I would willingly pay the £150

I needed to contact the accountant as they have online access to hmrc and that needed to be cancelled

Georgesgran Thu 26-Jan-23 09:14:12

I got in a total panic over my tax return this time - I too have a rental, but this was the first I had to complete since DH died, and as I had inherited part of his pension it was more complicated. Having left it so late and getting daily reminders from HMRC, I was pleased to find parts of the online forms completed for me, presumably from last year, and once I logged on HMRC self assessment, they sent codes as and when. In the end, it was far simpler than I’d envisaged and HMRC responded in minutes with what I owed. Having added all my incomes together, then taken off my allowances, I thought it right and paid it 72 hours later, as instructed.
My FA put me in touch with a couple of accountants who quoted £350 and £500 which I thought was quite high.
Fennel I’m surprised you don’t pay any tax, as my basic state pension and very modest income from the rental added up to over the basic tax threshold.
I hope you’ve managed to complete by now, as HMRC say any tax due must be paid before 31st, but you’ve got to wait until their site allows you to do that.

Georgesgran Thu 26-Jan-23 10:47:03

Just seen the date of the OP’s query. Hopefully, all done and dusted now.

Wheniwasyourage Thu 26-Jan-23 11:38:00

It may be an old thread, but I was interested to see that I am not alone in finding tax affairs scary. We are still using the same accountant that DH used before he retired and I think it's worth the money as I get into a cold sweat if I have to do it myself. I wonder if Nadhim Zahawi wakes up at 3am worrying about his tax return...