C
cassie
Guest
Hi all
Hope you can help. My husband and his brother (who has lived abroad for the last year) bought a house 4 years ago, rented it for 18 months. It was the brothers’ ppr for the rest of the time. They made a gain of €65k, having sold it for €235k.
They went to an accountant to sort out the capital gains tax and tax on rental income.
They foolishly did not get a quote and his fees are now was 1% of the sale of the house ie €2350 +vat.
When my husband disputed this, the accountant said that had the fee been 1% of the captial gains tax ,he could have made the cgt higher in order to increase his fees.
I rang an accountant to get a quote for the same work and he said €400 max. others were 600€+vat
I also rang the Assocation of Chartered Accountants who said that they could not really comment with the huge discrepancy, as it was a free market but that they should get some other quotes and go back to the original accountant with these quotes.
Are those fees excessive?
Is his figure for cgt correct?
If they ask for their documentation back, he is bound to ask for fees, what do you do in that situation?
Thank you for you help.
Cassie
Hope you can help. My husband and his brother (who has lived abroad for the last year) bought a house 4 years ago, rented it for 18 months. It was the brothers’ ppr for the rest of the time. They made a gain of €65k, having sold it for €235k.
They went to an accountant to sort out the capital gains tax and tax on rental income.
They foolishly did not get a quote and his fees are now was 1% of the sale of the house ie €2350 +vat.
When my husband disputed this, the accountant said that had the fee been 1% of the captial gains tax ,he could have made the cgt higher in order to increase his fees.
I rang an accountant to get a quote for the same work and he said €400 max. others were 600€+vat
I also rang the Assocation of Chartered Accountants who said that they could not really comment with the huge discrepancy, as it was a free market but that they should get some other quotes and go back to the original accountant with these quotes.
Are those fees excessive?
Is his figure for cgt correct?
If they ask for their documentation back, he is bound to ask for fees, what do you do in that situation?
Thank you for you help.
Cassie