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Self Assessment doesn’t have to be complicated – but if you’re in need of some assistance, talking to an accountant online can be a great way to make sure you file your tax return accurately and correctly.
We know what you might be thinking: ‘accounting services are expensive,’ but that’s not always the case – just take TaxScouts for example! In the guide below, we’ll outline exactly why you should use an online accountant service to complete your Self Assessment tax return, and some of the benefits that come from using it.
Let’s dive right in.
If you’re newly self-employed, you might’ve only just learned that you need to complete a Self Assessment tax return. We get it, the world of tax can be very complicated, especially if you’re new to it.
Among the main reasons that so many self-employed people ask for professional help are the risks that come from filing a Self Assessment return incorrectly. Since 2015, the number of fines for late tax returns has risen every year. And with the financial strain of the ongoing coronavirus pandemic, this number is expected to rise significantly.
This is what you’ll be charged for being late on submitting or paying your Self Assessment, as well as the interest that might be added as a result.
By using an accountant online (like TaxScouts!), you’re reducing the risk of having to pay the cost of any of the late fees. Your accountant will sort everything out for you, ensuring that your Self Assessment tax return is correct, accurate and filed on time.
Now that we’ve established why you might need an online accountant to help with your Self Assessment tax return, let’s take a look at some of the benefits.
One of the main benefits of choosing to use a TaxScouts online accountant is that we combine the best of both worlds. Having a totally online service means that we cut out any additional fees that come with traditional accounting.
These traditional accounting firms might charge you for the cost of paperwork, administration fees or services that you might not even need. As a result, hiring one can be very expensive, especially if you just need one to do your tax return for you! The average tax return might cost you between £150 to £250!
In contrast, our Self Assessment service is just £119 all in. For that price, you get expert online tax advice from a real, human accountant. All of our freelance accountants are qualified and regulated by the major UK accounting bodies too. And unlike traditional accounting firms, we don’t charge any hidden fees.
Yes, you can do your Self Assessment tax return all by yourself, but are you willing to run the risk of completing it incorrectly or filing it late? Take a look at our late tax return penalties calculator to see just how costly a mistake on your tax return could be!