Personal tax reclaim - is it normal for advisor to a percentage?

[Andy Inman]

I'm been quoted by a local accounting firm to handle a personal tax reclaim on my behalf. It is, I believe, a relatively cut and dry case (and they indicated that they thought so too). But, their quote is based on a percentage of amount recovered, uncapped. While I can see there's a potential advantage in that's it's in their interests to work as hard as possible to maximise the reclaim, it seems excessive given the amount anticipated to be reimburesed by HMRC. I would be happier to pay a flat rate/hour, possibly in conjunction with some percentage, but capped. Am I being unrealistic?

Happy to receive replies or PMs from any tax specialists who might want the job. I'm in Derby UK.

 

[DontAsk]

I would be happier to pay a flat rate/hour, possibly in conjunction with some percentage, but capped. Am I being unrealistic?

Have you put that to the accountant?

If it's so cut and dried, my first port of call would be HMRC, not an accountant.

 

[Andy Inman]

Have you put that to the accountant?

If it's so cut and dried, my first port of call would be HMRC, not an accountant.

It's cut and dried in that it should be a full refund, specific amount. Nonetheless, what form to fill in, where to get, it where to send it, etc - I don't know and am happy to pay a reasonable fee to someone who does. There's a value in knowing where to hit with the hammer. I was expecting a three figure sum.

I'm not sure yet how to respond to the firm that have quoted me. First reaction was that a feeling they're trying to rip me off, that's why I thought I'd ask here.

Yes, I may end up talking with HMRC myself. But, you know, the usual stuff: "too busy", and it makes sense to pay x per hour to somebody else rather than use my time which may be 2x or more due to relative ignorance

 

[DontAsk]

I was expecting a three figure sum.

LOL I was expecting at least an order of magnitude more!

What's the percentage?

What's their hourly rate?

Be careful what you wish for

 

[Alan]

I was expecting a three figure sum.

so between £100 and £999? As asked what % are they looking for if
you feel you are being ripped off - 75%?

 

[Mr D]

Yes someone can take a percentage if you sign a contract agreeing that.

Just like recent payment protection claims that dozens of companies advertised to do the claim for you for a percentage.
Can do it yourself for free - or save even that hassle and let someone else do it for some easy money.

 

[MyAccountantOnline]

I'm been quoted by a local accounting firm to handle a personal tax reclaim on my behalf. It is, I believe, a relatively cut and dry case (and they indicated that they thought so too). But, their quote is based on a percentage of amount recovered, uncapped. While I can see there's a potential advantage in that's it's in their interests to work as hard as possible to maximise the reclaim, it seems excessive given the amount anticipated to be reimburesed by HMRC. I would be happier to pay a flat rate/hour, possibly in conjunction with some percentage, but capped. Am I being unrealistic?

Happy to receive replies or PMs from any tax specialists who might want the job. I'm in Derby UK.

No you aren't being unrealistic in wanting to be charged a fixed fee or to be charged based on the time spent.

I suspect the firm isnt qualified as most professional bodies discourage/disallow contingency fees.

 

[justintime]

What is the tax being reclaimed? Most of these types of company are reclaiming the likes of employment costs like mileage and uniforms, union fees etc.

Straight forward and easy to claim but obviously as you indicate you need the know how to do it.

Happy to quote you a fixed fee if you drop me a PM with further details.

 

[Newchodge]

What is the tax being reclaimed? Most of these types of company are reclaiming the likes of employment costs like mileage and uniforms, union fees etc.

Straight forward and easy to claim but obviously as you indicate you need the know how to do it.

Happy to quote you a fixed fee if you drop me a PM with further details.

From the information about the fee, I would suggest this is draticaly more than employment costs like mileage and uniforms, union fees

 

[Deleted member 59730]

Straight forward and easy to claim but obviously as you indicate you need the know how to do it.

I am the worst person yo understand tax matters but I managed to claim a £2,200 claim caused by an accountant's mistake. Its easy to do.

 

[justintime]

From the information about the fee, I would suggest this is draticaly more than employment costs like mileage and uniforms, union fees

When I first read it I thought it was the refund that was 3 figures, but yes, it does look like the quote was for 3 figures. Even so, at 25% that could be a refund of anything from £400 to almost £4000, so who knows?

 

[Newchodge]

I was expecting a three figure sum.

Strongly implies that the fee will be more than a three figure sum. So at least £1,000 in fees.

 

[justintime]

Flipping heck, you're right, I need to learn how to read properly!

 

[Newchodge]

Flipping heck, you're right, I need to learn how to read properly!