self assesment/tax return.

[maureen-cornwell]

Hi,every year I fill out my accounts book,separate my receipts work out my total income after my deductions then send my book to my accountant fully completed for him to file my tax.Last year the receipts weren't even checked by him as were all exactly how I had stapled them together and I am paying him £140 for the pleasure.Thought I would file tax myself this year as I seem to be paying for nothing really. Not sure what to do though? Any help would be appreciated.

[Rick]

Hi,every year I fill out my accounts book,separate my receipts work out my total income after my deductions then send my book to my accountant fully completed for him to file my tax.Last year the receipts weren't even checked by him as were all exactly how I had stapled them together and I am paying him £140 for the pleasure.Thought I would file tax myself this year as I seem to be paying for nothing really. Not sure what to do though? Any help would be appreciated.

I've never used an accountant. The hard bit is keeping good records. Inserting numbers onto an online form is simple.
I can't remember the exact process to set up but have a look on the HMRC website or I'm sure someone will come along with the answer.

[Simona]

Hi,every year I fill out my accounts book,separate my receipts work out my total income after my deductions then send my book to my accountant fully completed for him to file my tax.Last year the receipts weren't even checked by him as were all exactly how I had stapled them together and I am paying him £140 for the pleasure.Thought I would file tax myself this year as I seem to be paying for nothing really. Not sure what to do though? Any help would be appreciated.

There are 2 very different opinions on using an accountant versus doing accounts yourself.

For those who are self employed it is really important to know and be aware of all the different technical and otherwise information that change all the time about taxes, expenses, and actually filing a tax return making sure we have allowed ourselves all the perks that we are due as self employed....there are a lot more than those cms usually discuss and an accountant would know that.

Every year when we have a 'budget' that affects us but do we know how?

Many cms do their own accounts following the simple guidance rules that have been around for years...other use an accountant who basically keep updated about the constant changes in personal finances.

It depends what the accountant is qualified to do: just look at your accounts or audit and file them for HMRC and looking at the expenses that need to be taken into account...there is a lot more than just the few items we usually hear cms talk about
Accountancy is as complicated as childcare!

if your accountant has not done a good job I would tell him so and ...if you are not happy ...find another
If he charges you £140 then all he is doing is transferring number onto the tax return?
An accountant should take your figures from a ledger you complete every month...then add up until you have 12 months...not invoices but fugures

Keeping good records every week is very good practice ...putting those records in to a monthly spreadsheet, then an annual one is easy too...working out the result for HMRC at the end of the year is really an accountant's territory.

That is my view of course having used an accountant for over 20 years....I would never do my own accounts because my knowledge is limited.
Hope you find a solution.