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Accountancy Fees


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I'm always learning new stuff.

The latest new stuff for me concerns accountancy fees. Now I don't use an accountant but have always assumed that if I did I could claim the cost as a business expense.....that's not necessarily so.

Seems the work the accountant does for your rental business IS deductible but if he does the whole of your self assessment for you it isn't......unless he separates the bill.

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I don't use an accountant either. I can see the logic behind the fact that you can only claim for your rental business and not other items like savings, pensions etc on your self -assessment return.

I have always completed my own HMRC self-assessment return on-line. It is easy to understand and to complete.

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I know of a few sole traders most of them in the building trade, who use accountants. I wouldn't expect their non business income/ tax affairs to be overly complex. I'll have to ask them if their accountant separates the bill for business accounting and submitting their self assessment tax return.

Of course, any smart accountant who wants the business might charge for the business accounting and just throw in the self assessment for free......just to get the work.

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I have never really thought about it ,I just put all my rental business income and purchases  into a program called Dosh on my PC and do a print out  on 5 April and hand it to my accountant along with a record of state pension received and the papers received from my 2 pension providers , she does my self-assessment and charges me £127 for doing it. 

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