![]() ![]() As with purchasing any service you do of course run the risk of hiring an accountant who isn’t particularly reliable.A good accountant will cost money which can be difficult when you know you are facing a tax bill shortly. Cost – This usually stops people from hiring an accountant to do their tax return for them.The online guides from the HMRC are very comprehensive and give step by step instruction which makes doing the return yourself a lot more accessible than ever before.You will know exactly what you have coming into and leaving the business and are therefore unlikely to face any surprises at the end of the tax year. One of the main benefits of doing your own tax return is that you will become completely aware of all your personal finances.Business owners who like to have total control all the time sometimes prefer this option because it means that they’re not relying on someone else to do something for them. You will have complete control over your self assessment, how long it takes to complete and when it is done by.Whilst it is easy to make genuine errors that you don’t notice, if HMRC spots anything that doesn’t look right, your chances of being investigated are increased. ![]() If you aren’t entirely sure what you are doing when completing your tax return, you may make innocent mistakes that can lead to a lot of stress.Trying to guess your way through it is likely to lead to mistakes, delays and a whole lot of unnecessary stress. Unless you are a qualified accountant or have a lot of experience dealing with accounts, chances are that you are going to have limited knowledge when it comes to completing your self assessment. ![]() If you really aren’t sure what is right for you and your company, the information below will help outline the pros and cons of each option. Regardless of whether this is your first year in business or you have been running your own company for many years, the reality is very few people enjoy doing their own self assessment tax returns at the end of the year.Ī question many business owners often find themselves asking is whether they should do their own tax return or hire an accountant to do it for them. Self Assessment - Hire an accountant or doing it yourself? When compiling your tax return you can use a self-assessment software provider to upload, calculate and store all relevant information, which goes a long way to helping you complete your own assessment. But the advice is do your homework and make sure you know what you are paying for. Self-assessment can be a daunting prospect if you choose to do it yourself? Accountants can prepare and complete the forms for around £250, while budget online services start as low as £50. But how do you find a professional to do it for you? Filling in a self-assessment form can be a real headache. ![]()
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