As the self-assessment deadline approaches, many taxpayers are rushing to get their tax returns submitted on time. While filing a self-assessment can be done yourself, you may find that using an accountant reduces stress and worry. Whatsmore, by using an accountant you can ensure you are only paying what you need to.
Here’s what you need to know about using an accountant for your self-assessment.
Why you should use an accountant for your self-assessment?
The first and most important reason why you should hire an accountant for your self-assessment is accuracy. An experienced accountant will make sure that your forms are filled out properly, Thus avoiding missing important information.
They will also check with you that you are claiming the correct expenses that may impact your tax bill.
The UK tax system changes very frequently! An accountant will be up to speed and have access to the most up-to-date information and how it may affect how much money you need to pay to HMRC.
Getting the most from your self-assessment
Another benefit of hiring an accountant is they can help you maximise deductions. This means that you save as much money as possible and are only paying what you need to.
They also understand how to manage your finances better so that you can make more informed decisions going forward.
- Helping you understand your income and expenses.
- Advising on setting up budgets
- Investment advice.
- & other financial decisions impact your overall financial health.
Making filing your return easier
Having an experienced accountant takes away a lot of the stress associated with filing a self-assessment each year.
Having an accountant on hand makes filing taxes easier because they do all of the hard work for you.
This includes gathering all relevant documents, filling out forms accurately, managing deadlines, and providing advice.
Your accountant will even remind you when and how much to pay to HMRC.
Tax returns can be stressful, but having an experienced accountant on hand helps alleviate some of this pressure by ensuring accuracy and helping taxpayers maximise deductions while filing their taxes each year.
Looking for a reliable and competent accountant to help with your self-assessment? Contact us today to get started!