Posted: Tue May 05, 2009 12:10 pm Post subject: TAX
I have a small holiday cottage which I rent out in holidays. I appointed an accountant but find he is costing me £500+ p.a. I don't actually make any money on the rental, in fact run at a loss. Would I be better off trying to do my own tax returns for myself and my husband. I am unemployed and my husband is employed. Is it very complicated to do myself.
Posted: Tue May 05, 2009 1:05 pm Post subject: Hello
Hello and thank you for joining the site!
Tax can be very scary unless you are working with it all the time! My advice is to keep the accountant to do the tax return but maybe do most of the work for him by clearly putting everything on an excel spreadsheet, all your outgoings and expenses verses your rental income.
I do this with my properties so the accountant simply calculates and completes the return.
I would ask him to review his fees in light of you supplying clear information (and most of the work already done)
I would suggest that you always use an accountant to complete tax returns as it can be incredibly confusing and unclear!
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