Tax Returns Self Assessment

  rickf 12:03 28 Dec 2013

Wonder if anyone here has used to calculate and file returns online. The fee seems very reasonable at £99. My accountant has increased his fess to an amount I think is too much for my tax matters. Mine is simply an income and expenditure account with expenses only to do with professional memberships, room rental fees etc.,and I am not a high earner. Alternatively, is there a simple guide/book out there. Any info appreciated.

  fourm member 12:16 28 Dec 2013

I've filed my self-assessment returns online for many years now.

The HMRC site is reasonably simple and certainly worth the effort to save on accountants' fees or an online service from an unknown source.

If you understand signing of pdfs you'll have no trouble. If you don't, just take the time to follow the instructions step by step.

  Fruit Bat /\0/\ 12:38 28 Dec 2013

I still use an accountant

he knows all the things that can be claimed for and makes sure I stay within the law.

Plus if the Tax man starts chasing I cn blame the account who is then responsible for any fees incurred.

  bumpkin 14:15 28 Dec 2013

The fee seems very reasonable at £99. It is if they save you more than that in tax but if all they do is fill in the form with the information you have given them you may as well do it yourself. I have always used an accountant but consider the amount of tax and my time saved to justify his fee. Using a reputable accounting firm to my mind also lessens the chances of an in depth investigation which can be very time consuming and expensive even if you have done no wrong. A lot of accountants will for an additional fee of course, offer "insurance" against this event.

  Kevscar1 15:00 28 Dec 2013

Fruit Bat If anything is wrong HMRC blame you and you get charged the fees so unless you have a contract with the accountant which says they will reimburse you you're out of luck

  rickf 17:03 28 Dec 2013

Thanks guys. Will look into online filing as suggested by forum member. Cheers

  rickf 17:04 28 Dec 2013

Just a bit of a dumbo when it comes to accounting.

  wee eddie 20:52 28 Dec 2013

Use an Accountant. It' ll save you no end of heartache for a relativy small sum of money

  fourm member 21:59 28 Dec 2013

I find it remarkable that a group of people that is very computer literate, which I take to mean capable of logical thought, is scared of doing a simple tax return online.

  wee eddie 23:07 28 Dec 2013

FM: Filling in an On-line Tax Return is relatively simple. Knowing of recent legislation that is to your advantage is another matter. That is where an Account earns his fee.

  LastChip 23:13 28 Dec 2013

It always astonishes me, how people get frightened of a tax return.

The government tax site is (almost) idiot proof and if you only have simple tax affairs, is perfectly adequate.

I suspect the tax man has calculated averages for each and every trade or profession. So if you don't deviate from the average too much, I suspect you'll never hear from them unless you happen to be picked for a random check. It seems to me, that's the only way they can check hundreds of thousands of tax returns - most of which turn up on their door mat during January. Long gone are the days of each tax return being manually checked. Provided you've done your best to be honest, even then, they'll take a pragmatic view of any slip-ups and offer advice to prevent a re-occurrence.

It's simply; money in; money out; the difference is profit, less your tax allowance = taxable income. Not rocket science.

This thread is now locked and can not be replied to.

Elsewhere on IDG sites

Samsung Galaxy S9 review

Wacom Cintiq Pro 24 and 32 review – hands-on

When is the next Apple event?

Les meilleures séries Amazon Prime Video (2018)