Accountant fee

D

danny 74

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Hi
i am looking for an accountant for tax return on my primary residence renatal income and investment property tax return for 2004 and 2005.Actually i moved to uk in sept 2004 and rented out both properties.
my question is can i do tax return from uk by hiring accountant or shall ii do it from irish accountant??
How much it cost to hire accountant for renatl properties tax return?
advice will be much appreciated.thanks
 
If it's a tax return on Irish income, you'd be wise to use an Irish accountant.

I use Liam Kearns who is based in Rush, Co. Dublin, and who I have found to be excellent. I had a one and a half hour meeting with him for advice on my tax return for two rental properties and his fee was €60 plus VAT. I think this was very reasonable as I had previously paid an Independent Financial Advisor, who when I made the appointment said he was qualified to give tax advice, €180 and got vague information.

Liam will either meet with you in Dublin or you can mail your accounts to him and he will deal with Revenue on your behalf. I don't know what the fee would be for this service as I do my own return, but you could contact him on 01 8071884.

With a bit of advice you could probably do the return yourself - you can download some [broken link removed]and forms etc. direct from revenue.ie or you could use ROS to submit your return online.
 
Thanks delgirl
i will definetly call liam to find out more according to my situation.
regarding submission tax return myself will revenue department deal with me directly on my uk address?? as i think they may ask me to ask my tennants to deduct tax and submit it to revenue dept..which i dont want. anyway i will speak to liam and the fee seem tobe very reasonable for two properties tax return.
 
Delgirl wrote

I don't know what the fee would be for this service as I do my own return

and you replied
the fee seem tobe very reasonable for two properties tax return.

Are you mixing this up with
had a one and a half hour meeting with him for advice on my tax return for two rental properties and his fee was €60 plus VAT
 
sorry , so its just consultation fee. do you know how much they normally charge if they do the tax return .
 
I have no idea what Mr Kearns' fee would be - he's a very affable man and would be happy to discuss your situation on the telephone. IMHO you would be wise to at least have your first return completed by a professional as they are aware of allowances, expenses etc. to which you may be entitled and may not know about. Revenue's IT70 while helpful, is a bit vague.

You will need an 'agent' (perhaps a family member, trusted friend or accountant) in Ireland according to this from [broken link removed]:

What if Rents are payable to a non-resident landlord?
If a landlord resides outside the country and rent is paid directly to him/her or to his/her bank account either in the State or abroad, tax must be deducted by the tenant at the standard rate of tax (currently 20%) from the gross rents payable. Failure to deduct tax leaves the tenant liable for the tax that should have been deducted.


Example: Gross rent per mnth€ 1,000Deduct tax (1000 x 20%) € 200Pay to Landlord (1,000-200) € 800
The tenant must also give a Form R185* to the landlord to show that the tax has been accounted for to Revenue.

Where an agent, resident in the State, is appointed by the non-resident landlord to manage the property and the agent is collecting the rents, the rents must be paid gross to the agent. The agent is then chargeable to tax on the rents as Collection Agent for the landlord and is required to submit an annual tax return and account for the tax due under Self Assessment. Leaflet IT10 Guide to Self Assessment* provides more detailed information.

Note: The agent appointed need not be a professional person, i.e., it can be a family member or other person prepared to take on the responsibility and undertakes to make annual tax returns and account to Revenue for the tax due.

Choose your 'agent' carefully! We once used a letting agent to manage our property as we were living abroad and the company went into liquidation taking a few month's rent and a tax return, which we didn't even know they had received, with them.
 
thank you delgirl, i am clear now , i will get professional help and will contact liam on monday. this website is a great help.
 
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