Tax Return Accountants
Your business tax returns are a vital report that you need to file each year. You will need to give a detailed financial summary of your business for the last year, so that your tax liability is calculated correctly. Inconsistencies or errors can cause serious problems with HMRC, leading to your accounts being audited which is a very time-consuming process.
If you file incorrectly and are under-charged for your tax bill, you could face significant repercussions in future. Use a tax return accountant and you can depend on their expertise to ensure your returns are filed on time and accurately.
How long does it take for accountants to do a tax return?
The length of time that it takes an accountant to complete your tax return will vary. It will depend on how well-kept your existing accounts are, and how many transactions there have been that need to be compiled into a full income and expenditure report.
However, you can count on it always being quicker to ask a professional accountant to complete your return than opting for self-assessment. You may feel that you understand the nuances of your company but accountants are unrivalled when it comes to knowing finances inside and out – they are more likely to complete your return early, and you will get the peace of mind that they are sure to be accurate too.
How much does it cost?
The cost of having an accountant complete your business tax return will depend on how complex your business and accounts are. A price will always be agreed before work is commenced. Remember that you risk no penalty from HMRC if you choose to pay an accountant who is experienced in returns so it may be a savvy financial decision.
Is it worthwhile?
It is absolutely worthwhile seeking business tax return help from an accountant. Not only are you saving yourself the time and work to complete the tax return yourself, but you are gaining the reassurance that an expert professional is making sure it is fully compliant. The financial cost of employing an accountant is far outweighed by the benefits to you and your company.
Please get in touch if you wish to find out how we could help you with your tax returns.