Sometimes hiring an accountant can be a good thing, especially if you don't have the know-how to fill in your tax return yourself.
There are now lots of tools to assist you in filling in your annual tax returns and it can now all be done online. The government website offers plenty of support.
https://www.gov.uk/self-assessment-forms-and-helpsheets - Provides helpful advice and links to resources.
https://www.gov.uk/self-assessment-tax-returns - Provides an overview of the tax return, including:
There is a lot of information to plough through to understand what needs to be done. This is great if you have the time and patience, but I do recommend you take the burden of this away by handing the job to an accountant. They are qualified and experienced to be able to best advise you to not only fill out the tax return correctly, but show you ways that can most financially benefit your business and the amount of tax you have to pay.
Depending how complex your business is, they can usually do the job for you for a lot less than you could do it yourself (in time and money).
Outsourcing all elements of your business that you are not best at doing yourself and is not the core activity of your business, I really believe is the best way to run a successful business. You need to make use of each day the best you possibly can, without having to work all hours and compromising the quality of the core activities of your business.
By outsourcing these activities, it frees you up to concentrate on the tasks that can drive your business to the next level.
For help and avice on filling in your tax forms, talk to our recommended accountants UHY WKH Partnership Chartered Accountants
