Can I do my own tax return?
I don’t often pass comment on posts online asking for advice, but when one comes up regarding my area of expertise I can’t resist a peek. Somebody was asking on advice regarding setting up their business & on completing their tax return as they were finding the UK system a little daunting. Someone’s response of ‘I do my own, it’s really easy’ did make me roll me eyes!
Of course you can complete your own return if you have the knowledge in order to do so accurately and correctly, but it’s all relative to your particular circumstances about how ‘easy’ your own personal tax return could be. Lots of people outsource their tax return, here are some of the more common reasons;
They find it difficult
Either because they personally find it difficult or they may feel underqualified. The terminology can be confusing & it be tricky navigating the HMRC manual to ascertain the expenses they can claim. Whatever the reason they will save masses of time googling or contacting the HMRC together with peace of mind everything is captured by employing a professional bookkeeper or accountant.
They find it daunting
Lots of people find the prospect of doing their returns daunting – in fact lots of people find the prospect of anything financial daunting. I remember feeling that way when I first stepped into a cash office 15 years ago! It may be the first tax return, or that they never escape feeling daunted by the idea; they’d just rather hand the stress over to someone else.
They are time poor
Many people have lots of demands on their time – work, family – is there any time for you to relax let alone sort out your tax return? By employing someone who is well versed in completing a self assessment return, they will organise what they need from you very swiftly & complete the work in half the time – meaning you can concentrate on what you need to concentrate on, be it your business, your family or doing what you love.
Self Assessment Offer
Luckily I’m running a great offer during September with 30% off self assessment tax returns. With basic returns starting from just £99, get in touch to see how we can help.
I’ll just leave it here…