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Is this normal for a chartered accountant?

(27 Posts)
NichyNoo Fri 16-Aug-13 17:01:48

As of this new tax year, I earn £44,000 and DH earns £74,000 (plus bonus) through PAYE. We have savings, a few shares and I have private medical insurance through work that I need to declare on self assessment. Thus I think we both need to do self assessment from now on. I am looking for a chartered accountant to basically advise us on how to do this (i.e. what needs to go on self assessment and in which boxes - I looked at a sample submission and can't see where my medical insurance premium would go for example).

I am trying to make an appointment with a local chartered accountant. I want to pay to have all this explained to us. The accountant is saying that we need a free consultation to 'assess our needs' then they will provide a quote for services. Is this normal? I ask because we literally have no spare time for meetings (out of the house till 8pm three days a week and 5pm the other two and will need to pay for evening childcare whilst we attend meeting). So we don't want to go to a sales meeting - we want one meeting to be taught all of this.

Is this likely? Do all accountants only do this assessing needs then a quote for services? We are so time short that we don't want to waste time at a meeting only to get a ridiculous quote and have to start all over with meetings with a different company.

Zigster Mon 19-Aug-13 13:45:06

Doing your tax return yourself is pretty easy if you are PAYE with a bit of savings (bank account interest and share dividends). I've heard some people say it takes them 15 mins - I think they are exaggerating as it takes me a couple of hours (though much of that is getting the various documents together).

You need to register with HMRC - they will then send you log in details.

You need evidence of your income from your employment - P60 plus perhaps a P11D (for the medical benefit). The P2D tax code is largely irrelevant for your tax return as it is more about spreading your tax through your monthly salary than the year end check (self-assessment) about whether you have paid enough or too much.

You should have dividend certificates which will detail amounts received. Similarly, most (all?) banks will provide you with a summary of interest paid during the year and any tax deducted.

If you have income from property, capital gains, etc then it does get trickier. But if you are just PAYE with some savings then it will be quicker to do it yourself than fix up a time to see an accountant.

traintracks Wed 28-Aug-13 06:49:07

Where do you live? If in N London, pm me for the name of a good accountant who will come to you for meetings

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