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Completing Self-Assessment Tax Return - Ask An Accountant or Do It Yourself?
by Benny Gala DNS Accountants
Benny Gala 
DNS Accountants
At the time of Self-assessment tax return to HMRC in the UK, You have two option to file your tax return
1 - Do it yourself
2 - Outsource Tax return filing to an Accountant
The question arises, which one you should choose? It totally depends upon how long will you take. As the Sole trader account is particularly complicated, with a lot of money coming in, and expenses going out of your business.
Let’s take an example, suppose the filing of the tax return will take around 6 hours to complete. Now here you will try all trusted software or calculator to make it appropriate. While spending your precious time in calculating the tax return is around £52 per hour. So you have lost around £312 amount.
Now you need to make a decision.
On the other hand, an accountant for a sole trader to file the self-assessment tax return to HMRC can be available at low cost and will also help you will tax planning options. To hire an accountant one option will save you money in the long term, whilst the other would cost you low.
An Expert accountant can assist you with the in's and out's of the tax system, and they know what you can and can't claim. So, as sole traders or a freelancer and looking forward to completing the tax return with HMRC we would suggest you sit down and work out with your expertise and what your time is worth.
That way, you as a sole trader will focus on your business and will not cost your business. If time worth amount is more than the charge of an accountant. You should complete your tax return by your own and perhaps you would be better off spending your time bringing in more business!
DNS Accountants best Accountancy firm in the UK, we can assist you with the self-assessment tax return. For more information visit our website.
https://www.dnsassociates.co.uk/self-assessment
Feb 13th 2019 04:40
DNS AccountantsAt the time of Self-assessment tax return to HMRC in the UK, You have two option to file your tax return
1 - Do it yourself
2 - Outsource Tax return filing to an Accountant
The question arises, which one you should choose? It totally depends upon how long will you take. As the Sole trader account is particularly complicated, with a lot of money coming in, and expenses going out of your business.
Let’s take an example, suppose the filing of the tax return will take around 6 hours to complete. Now here you will try all trusted software or calculator to make it appropriate. While spending your precious time in calculating the tax return is around £52 per hour. So you have lost around £312 amount.
Now you need to make a decision.
On the other hand, an accountant for a sole trader to file the self-assessment tax return to HMRC can be available at low cost and will also help you will tax planning options. To hire an accountant one option will save you money in the long term, whilst the other would cost you low.
An Expert accountant can assist you with the in's and out's of the tax system, and they know what you can and can't claim. So, as sole traders or a freelancer and looking forward to completing the tax return with HMRC we would suggest you sit down and work out with your expertise and what your time is worth.
That way, you as a sole trader will focus on your business and will not cost your business. If time worth amount is more than the charge of an accountant. You should complete your tax return by your own and perhaps you would be better off spending your time bringing in more business!
DNS Accountants best Accountancy firm in the UK, we can assist you with the self-assessment tax return. For more information visit our website.
https://www.dnsassociates.co.uk/self-assessmentFeb 13th 2019 04:40
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