Monthly Archive December 2020

Be sure to give your accountants plenty of time before HMRC deadlines

If you own your own business then you will need to submit certain information to HMRC at relevant times. If you are self employed then the self-assessment deadline is looming for January and you need to ensure that your accountants have everything, they need to complete it and submit it on time.

Depending on what information you give them, they may need a good few months to sort out all the information in order to submit your return. Some people just hadn’t heir accountants a box of receipts and bank statements, others will put it all on a spreadsheet and basically do a lot of the hard work. Often the accountants will charge a different fee depending on how much work they have to do. The advantages of using an accountant is that they may be able to spot error you have made and will also be able to advise you on ways in which you can possibly recue your tax bill. It is important to find an accountant you can trust and that is experienced in dealing with returns. Ideally, you should use someone that has been recommended to you or that you know has a great reputation in the industry.