Help in filling tax return!

cottager

P&C it's obviously up to you, and if you're confident enough and able to go it alone, then of course you should go for it.



Personally we wouldn't exchange our accountant for a houseful of gold. We pay ours £800 + VAT, which hasn't increased for several years. Maybe it's high, maybe it isn't, but we tend not to measure the fee against how much of a liability there is or how much tax we can save (though it's obviously nice if we legitimately can!), but against other yardsticks:

• the hassle and responsibility of doing it ourselves.
• always on the end of the phone to answer any questions, from the mundane or sometimes stupid to the more complex.
• sound advice, discuss ideas, explain everything very well.
• when we really needed them during a random tax investigation they knew us, knew the business, had faith in us, fought our corner, took a pile of worry and pressure off our shoulders, and stood between us and having to deal with HMRC personally.
• friendly, approachable, 'human', efficient and always helpful.
• well respected long-established local firm.

Gaz1980

Hi,
my tax return is all done and filed on-line as far as I can tell. but do I need to pay the estimated fee now? Or does someone look at it then send me a bill? Don't want to end up with paying late fees. However Im not convinced on how much I should be paying.
Thanks.

barriejohn69

It's not an estimated fee. It is the tax & ni calculated based on the figures you put on the return. The only way to alter it was if you were to reduce the payments on account.

The amount is payable by 31st January or you will pay interest on it.

No one looks at the figures then get's back to you.

Gaz1980

Thanks, better go and pay it then... So if no one looks at it how do they know I've put in the right ammount? I could have missed out some and no one would know? The accountant did it last year, but thought I would do it myself this year on-line. It's not very specific is it...

Savvy_Sue

They may get round to checking it, and if they disagree they'll let you know then.

However, it's in your interests to get it right, because if you pay too much they're getting interest on it and you're not (and they may not notice!), and if you're not paying enough they will charge YOU interest and possibly fine you.

But you can imagine how difficult it would be for them to check EVERYONE's return IMMEDIATELY when so many of them fall due at the same time.

Mudd14

A good accountant will save you his fee in your tax return through their knowledge

barriejohn69

Mudd14 wrote: »

A good accountant will save you his fee in your tax return through their knowledge

Probably at least twice over