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[Help] Do i need an accountant to submit my self-assessment tax return?



Garage_Doors

Garage_Doors

Originally the Swankers
Jun 28, 2008
11,789
Brighton
In all previous years I have had a family friend who was a retired accountant who did just a few books for friends, he unfortunately had an accident and with it all going digital from next year he has finally fully retired from ding anyones.

I’m a self-employed sole trader below the VAT threshold and do all my own accounting as far as I can using spread sheets.
I correlate all the invoices with running totals, like wise with recipes and number them all sequentially.

I know my total net and gross income for the year along with total expenditure with all receipts numbered and broken down in to areas such as materials, Van running costs, tools, marketing etc.

Its the tyre 2 and type 4 NI Contributions and knowing what I can claim for I get stuck on.

I have approach another accountant recommended to me and was staggered to be quoted £600 + vat to submit my tax return. Is this a normal amount for this service or am I just being as tight arse.

Assuming you can actual submit your own accounts, is it a wise thing to do, or should you seek professional accountants help.

Finally are there any NSC users that deal in submitting tax returns?
 




Herr Tubthumper

Herr Tubthumper

Well-known member
NSC Patron
Jul 11, 2003
59,487
The Fatherland
Garage_Doors said:
In all previous years I have had a family friend who was a retired accountant who did just a few books for friends, he unfortunately had an accident and with it all going digital from next year he has finally fully retired from ding anyones.

I’m a self-employed sole trader below the VAT threshold and do all my own accounting as far as I can using spread sheets.
I correlate all the invoices with running totals, like wise with recipes and number them all sequentially.

I know my total net and gross income for the year along with total expenditure with all receipts numbered and broken down in to areas such as materials, Van running costs, tools, marketing etc.

Its the tyre 2 and type 4 NI Contributions and knowing what I can claim for I get stuck on.

I have approach another accountant recommended to me and was staggered to be quoted £600 + vat to submit my tax return. Is this a normal amount for this service or am I just being as tight arse.

Assuming you can actual submit your own accounts, is it a wise thing to do, or should you seek professional accountants help.

Finally are there any NSC users that deal in submitting tax returns?
Click to expand...

Are you a chef?
 


Harry Wilson's tackle

Harry Wilson's tackle

Harry Wilson's Tackle
NSC Patron
Oct 8, 2003
49,927
Faversham
Garage_Doors said:
In all previous years I have had a family friend who was a retired accountant who did just a few books for friends, he unfortunately had an accident and with it all going digital from next year he has finally fully retired from ding anyones.

I’m a self-employed sole trader below the VAT threshold and do all my own accounting as far as I can using spread sheets.
I correlate all the invoices with running totals, like wise with recipes and number them all sequentially.

I know my total net and gross income for the year along with total expenditure with all receipts numbered and broken down in to areas such as materials, Van running costs, tools, marketing etc.

Its the tyre 2 and type 4 NI Contributions and knowing what I can claim for I get stuck on.

I have approach another accountant recommended to me and was staggered to be quoted £600 + vat to submit my tax return. Is this a normal amount for this service or am I just being as tight arse.

Assuming you can actual submit your own accounts, is it a wise thing to do, or should you seek professional accountants help.

Finally are there any NSC users that deal in submitting tax returns?
Click to expand...

That is about the going rate. If the fekker can save you £600 it is worth it. :thumbsup:
 


jackanada

jackanada

Well-known member
Jul 19, 2011
3,157
Brighton
The NICs get calculated for you when you submit your return.
Mind you I submit mine as “cash basis” which makes it all very simple.
 






carlzeiss

carlzeiss

Well-known member
May 19, 2009
5,844
Amazonia
Garage_Doors said:
In all previous years I have had a family friend who was a retired accountant who did just a few books for friends, he unfortunately had an accident and with it all going digital from next year he has finally fully retired from ding anyones.

I’m a self-employed sole trader below the VAT threshold and do all my own accounting as far as I can using spread sheets.
I correlate all the invoices with running totals, like wise with recipes and number them all sequentially.

I know my total net and gross income for the year along with total expenditure with all receipts numbered and broken down in to areas such as materials, Van running costs, tools, marketing etc.

Its the tyre 2 and type 4 NI Contributions and knowing what I can claim for I get stuck on.

I have approach another accountant recommended to me and was staggered to be quoted £600 + vat to submit my tax return. Is this a normal amount for this service or am I just being as tight arse.

Assuming you can actual submit your own accounts, is it a wise thing to do, or should you seek professional accountants help.

Finally are there any NSC users that deal in submitting tax returns?
Click to expand...

I am also just below the VAT threshold but do pay an accountant to submit my tax returns . The fee is similar to what you have been quoted however the gains in Tax credit I have received over the years have far exceeded the costs incurred .
 


StillHateBellotti

StillHateBellotti

Active member
Jun 17, 2011
861
Eastbourne
Garage_Doors said:
In all previous years I have had a family friend who was a retired accountant who did just a few books for friends, he unfortunately had an accident and with it all going digital from next year he has finally fully retired from ding anyones.

I’m a self-employed sole trader below the VAT threshold and do all my own accounting as far as I can using spread sheets.
I correlate all the invoices with running totals, like wise with recipes and number them all sequentially.

I know my total net and gross income for the year along with total expenditure with all receipts numbered and broken down in to areas such as materials, Van running costs, tools, marketing etc.

Its the tyre 2 and type 4 NI Contributions and knowing what I can claim for I get stuck on.

I have approach another accountant recommended to me and was staggered to be quoted £600 + vat to submit my tax return. Is this a normal amount for this service or am I just being as tight arse.

Assuming you can actual submit your own accounts, is it a wise thing to do, or should you seek professional accountants help.

Finally are there any NSC users that deal in submitting tax returns?
Click to expand...

Use quick books, for about £7 a month it’s a lifesaver and produces paperwork for you, just transfer values over, copy and paste over profit and loss and expenses sheet as a PDF to back up your figures.
 


Beach Hut

Beach Hut

Brighton Bhuna Boy
Jul 5, 2003
71,960
Living In a Box
Quite a few years ago when a promotion at work put me into the higher tax bracket I was sent a self assessment return. Not really understanding it and also having an additional income I paid an accountant £100 to complete it and he got it wrong so as I subsequently completed the next two myself and settled up I would complete your own.
 




swindonseagull

swindonseagull

Well-known member
Aug 6, 2003
9,265
Swindon, but used to be Manila
Im in the higher bracket , I have used an accountant for the last few years as I just dont have time to understand the tax codes and what I can and cant claim for.
She charges me £95 for a self assessment and the last few years I have always had money back from HMRC this year HMRC (for no reason that I could explain) changed my tax code, Accounted got it sorted and a refund of £1839 so for me well worth it to get someone who knows the system to submit it. When I spoke to her she told me that she phones direct and does not get stuck in a queue and speaks direct to HMRC staff not phone line staff, true or not I dont know and dont really care it has always paid to have her do my return.
 


Sorrel

Sorrel

Well-known member
Jul 5, 2003
2,743
Back in East Sussex
I paid for an accountant for my wife's business for a couple of years (well, she did) and then having got the hang of what they put in the returns from their figures I now do them myself, using a big excel sheet with lots of automatic calculations per year to determine the values.

The hardest part is deciding which category items bought for work go into, or if they qualify at all. I think I've got a handle on it (after seeing what the accountant did), but absolute certainty that you are following the rules correctly and noticing when they change isn't that straightforward. I did think it was easier online this year, though - I think HMRC are trying to make it easier to do.
 






R

Raleigh Chopper

New member
Sep 1, 2011
12,054
Plymouth
I pay my accountant £20 a month, he does everything, I either pay no tax or very little and I got £3000 back last year.
Tips: He is a small company specialising in self employed or small companies, bigger accountants are far more expensive and have much bigger clients.
The deal is that I send all the initial monthly accounts to him as a spreadsheet and most importantly I do not give him a shoebox full of miscellaneous receipts stained with KFC fat.
Well worth £20.
 




dazzer6666

dazzer6666

Well-known member
NSC Patron
Mar 27, 2013
52,385
Burgess Hill
All those saying that ‘it’s worth paying’ because you got money back.....if you submit the correct figures you’ll get it back anyway......just saying.
 






S

Sirnormangall

Well-known member
Sep 21, 2017
2,967
Yes £600 is what I pay and the accountant has always saved me more than that through tax advice, dividends, what I can claim for etc
 


Official Old Man

Official Old Man

Uckfield Seagull
Aug 27, 2011
8,542
Brighton
Self employed and also do everything on self created spreadsheets. The new Making Tax Digital is crazy. What is the difference with me putting 9 numbers in 9 boxes online for VAT rather than doing it digitally? Beats me.
For my annual tax return I pay an accountant £140 and he sorts the profit/loss stuff plus moves money around (paying Wife, car, phone etc). For me it is peace of mind that HMRC have it officially rather than some bloke making up figures.
 


R

Raleigh Chopper

New member
Sep 1, 2011
12,054
Plymouth
I remember the good times said:
Self employed and also do everything on self created spreadsheets. The new Making Tax Digital is crazy. What is the difference with me putting 9 numbers in 9 boxes online for VAT rather than doing it digitally? Beats me.
For my annual tax return I pay an accountant £140 and he sorts the profit/loss stuff plus moves money around (paying Wife, car, phone etc). For me it is peace of mind that HMRC have it officially rather than some bloke making up figures.
Click to expand...

Exactly, my accountant finds all sorts of stuff to make a claim on, especially as I run my little company from home, he is just and I mean just the right side of bent.
No way would I have been able to do that or know the loopholes and the constantly changing tax stuff in the budget etc.
 








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