Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Why You Should Hire An Accountant To Complete Your Tax Return

Personal_Finance / Taxes Oct 29, 2020 - 12:15 PM GMT

By: Umer_Mahmood

Personal_Finance

While talking about tax returns is far from thrilling, the fact remains that anyone who generates £1,000 or more from their self-employment endeavours needs to complete one. But before you go it alone, have you considered hiring an accountant instead?

As financial experts, accountants are best placed to advise you on all things tax. Here is why you should hire an accountant to complete your tax return to tell you more.


Less Stress

Whether you’re a sole trader or if you run a large company, the day to day operations of your business are stressful enough, without having to throw a tax return into the mix. If you’re not au fait with numbers and form filling, it can soon become overwhelming. On a more serious note, if you don’t submit your tax return on time and correctly, it could lead to steep fines too.

Accountants are extremely well versed in filling out tax returns, and so to them, it’s run of the mill rather than the huge headache it is for most people. A top tip to make the process even easier is to ensure you keep on top of your books. An accountant can also advise you with this, as well as making sure your tax return gets submitted in the process.

They Can Save You Money

Some people are reluctant to hire an accountant to complete their tax returns because of the costs involved. The reality though is that an accountant is going to look at ways they can actually save you money. With so many different sections to fill out on your return, it’s easy to miss items you can claim for. Plus, without proper guidance, you could end up overpaying on certain aspects too.

If you also consider the time you have to take out of running your business to complete your tax return, then accounts are even better value for money. This is especially the case given they will work efficiently because they understand the tax system extremely well.

Helping You To Plan Ahead

While you might be stopping by your accountant’s office for help with your tax return, the services they can provide don’t stop there. Tax returns in themselves build a clear picture of where your business is it, and whether your cash flow is as healthy as it could be.

These types of conversations and knowledge insights will help you immeasurably. But, are something that will never happen if you complete your tax return by yourself, especially if you don’t understand business forecasting. The better relationship you can build with your accountant, the more smoothly your tax returns will go from this point onwards.

To Sum Up

If you’ve been hesitant to enlist the services of an accountant to help you with your tax return, hopefully, the above points have helped you realise they are pretty useful individuals.

As well as saving you money, they can also reduce the stress that comes with filling out your return in the first place. Most of all, accountants can provide various services to keep all aspects of your finances looking rosy.

By Umer Mahmood

© 2020 Copyright Umer Mahmood - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in