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Where Taxpayers and Advisers Meet

Client fee query

huntma24
Posts:1
Joined:Tue Apr 13, 2021 11:47 pm
Client fee query

Postby huntma24 » Tue Apr 13, 2021 11:51 pm

Possible client call today asking for fee quote

5 rental property accounts and personal tax return

How much should I charge ? I live in Hastings so fees are usually lower

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Client fee query

Postby robbob » Wed Apr 14, 2021 9:15 am

Hello huntma24

The problem here is how long is this piece of string?

ideally you want to give quote - get your hands on the nitty gritty of the clients information and then before proceeding reavaluate your quote - middle ground is to say i will honour your quote this year but my revised quote for future works will be x amont more. I always feel this is a fair middle ground if you don't want to inconvenience someone who has taken time to satisfy themselves its your form they want to deal with - with this final route giving them the option to back out now if they don't like the sound of fee increases next year seems fair and reasonable to me. I am presuming by giving higher quote you would be happy to back out if its obvious the job wasn't as sold to you.

There is also the element of whether you are short of work (i would be inclined to take on for more modest fee) or if you are rammed with work in which case you would be looking to maximise fee income - obviously there is here in that you might not want to be seen to quote excessive rates.

finally are you working from home low overhead buisness or not ? that possibly gives you more flexibility of you have lower overheads.

anything in region of £300+vat to £600+ vat seems very reasonable depending on the quality of the records.

finally is the issue of what the clients gets included within the fees ?- being frank some rental property clients often come ready to ask a boat load of questions each year ref the minute details of the rules and ascoiated capitla gains changes etc.
So if you are offering full included proactive ongoing advise for this client be wary that ideally you need a plan of action if they are of the type that keep coming back asking questions 6 times a year every year for the next 10 years. I like questions year one - but i don't like the same question 3 times year every year for 10 years ! - worst offenders are the ones who want you to do higher rate tax interets restriction calculations in year without giving you records for nowt !


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