Fee Structure
Charges for the services performed are calculated by reference to the complexity of each individual case - as you can imagine no two cases are typically the same and circumstances differ person to person. It is not always possible therefore to state a fixed fee for any particular piece of work although we can offer guidelines. In the interests of fairness to all clients a straight forward simple tax return will attract a small fee whilst a complex tax return will command a higher fee fitting to the amount of work involved.
As we appreciate that everyone wants to know the bottom line the following figures are provided as guide to what you might expect.
UK Tax Return Preparation
Simple UK £195 - £235 + VAT
This would include people such as employees with a P60, P11D and small levels of other income from investment such as bank interest and/or dividends.
Medium UK £235 - £325 + VAT
As above but with additional items such as capital gains, a single rental property or significant amounts of investment income from multiple sources.
Complex UK £325 - £545 + VAT
As either of the above but with additional more complicated issues such as foreign income, claims for relief due to being temporarily resident in the UK. Also significant amounts of income from capital gains, multiple rental properties and complicated investment income arrangements.
US Tax Return Preparation
Simple US £325 - £395 + VAT
This would include people such as employees in the UK with income from employment close to or below the foreign earned income exclusion amount (circa $100K equivalent). Additional small amounts of investment income including interest and dividends. Such a category wouldn't include individuals who are in possession of UK tax free investment vehicles such as stocks and shares ISA's in the UK.
Medium US £395 - £475 + VAT
As above but with additional items such as capital gains, a single rental property or significant amounts of investment income from multiple sources.
Complex US £475 - £695 + VAT
As either of the above but with higher employment income figures $100K+ which means you will need to rely on foreign tax credits to mitigate your US tax liability on your non US employment income. Also self employed individuals or people employed by their own company (directors) would fall into this category. If you have a complicated investment portfolio from multiple sources and/or UK tax free investment vehicles such as ISA's then your US return will become necessarily more complicated and would likely be in this category.
Special Rates
Specialist forms suchs as forms 5471 (Foreign Corporation Reporting), 8938 (Foreign Accounts and Assets Reporting) to name a couple would normally attract a further additional fee.
Also special rates can be negotiated for Streamlined Foreign Offshore filing cases (used where an individual has not filed US taxes before and is required to catch up in order to be compliant with the IRS) - these types of cases involve multiple years return filings (normally 3 years) and also multiple years foreign bank reports (normally 6 years).