Are you dreading filing your UK tax return? Do you find the whole process confusing and overwhelming? If so, you’re not alone. In fact, research shows that nearly 60% of small businesses in the UK don’t use an accountant to file their taxes.
While it’s certainly possible to file your own taxes, there are many benefits to using an accountant, including peace of mind, expert advice, and lower stress levels. Here are five reasons why you should use an accountant to file your UK tax return:
1. Peace of Mind
When it comes to taxes, one thing is certain: there are a lot of rules and regulations to follow. Keeping up with all of the changes can be complicated and time-consuming. An experienced accountant will know exactly what needs to be done in order to file your taxes correctly and on time. This will give you peace of mind knowing that your taxes are in good hands.
2. Expert Advice
In addition to taking care of the paperwork, an accountant can also offer expert advice on how to save money and maximise your tax deductions. They can help you identify opportunities that you may not have been aware of and provide guidance on what expenses are tax-deductible. This valuable advice can save you hundreds or even thousands of pounds each year.
3. Lower Stress Levels
Filing your own taxes can be stressful, especially if you’re not confident in your abilities or if you’re worried about making a mistake. When you hire an accountant, you can rest assured knowing that everything will be taken care of for you. This will free up your time so that you can focus on other aspects of running your business.
4. More Time for Your Business
As a small business owner, your time is precious. Therefore, it makes sense to delegate tasks that can be handled by someone else, such as filing your taxes. By using an accountant, you’ll have more time to focus on running and growing your business.
5. Access to Expertise
When you hire an accountant, you gain access to their expertise and knowledge. This can be extremely beneficial if HMRC were ever to conduct an enquiry into your affairs. An accountant will be able to provide the necessary information and support throughout the process.
