Going Self-employed - should I instruct an accountant?

phill99

I have been SE for 17 years and the advice I have given to many people is quite simple: Get an accountant. Doing a tax return isn't a simple calculation of income versus costs. If it was that simple, accountants would all be unemployed. But an accountant knows what you can and can't claim for, what is a legitimate expense, how to deal with capital purchases and how to write them down over a number of years, whether you would be better off as a Ltd Co etc etc. The £300 he will charge you is nothing in terms of what he will save you in tax. 

pramsay13

I've been self-employed for 10 years and I've done my own records and self-assessment. 
I add income / expenditure to a simple spreadsheet as I go along, and then do a monthly check just in case I've missed anything.
If you are in any way worried you could instruct an accountant for the first time, but it really isn't difficult.