Do I need to share pension and savings account statements with my accountant?

wouldappreciatehelp

Hello all, I have an "online accountant" doing my self assessment tax return and I have trust issues! They want me to send my savings account statements, pension statements, and mortgage statements to them by email. I feel like this is giving away all the details needed to steal my life savings! Even with a mortgage statement for example, is there a danger the information could be intercepted and someone could borrow money against my house?

I'm not sure why all these statements are needed as I have provided the information already - the savings interest earned (less than £1000 over the last tax year), pension contributions (£0 last tax year unfortunately), and loan interest paid on my one house which is rented out at the moment.

Should that suffice do you think or do I really need to send them details of my pensions, savings account and mortgage account over email?

Thank you very much for any advice.

PS Sorry this is not to do with cutting my tax bill - more to do with keeping my money safe while making sure I'm paying the correct amount of tax. I couldn't find a category for that but would appreciate advice. Many thanks!

eskbanker

wouldappreciatehelp said:

I have an "online accountant" doing my self assessment tax return and I have trust issues!

Why not do it yourself then?  It's really not complicated - as the name suggests, it's intended to be done by the individual....

If you do wish to use an accountancy service then they'll be held accountable for the accuracy of their activities and so will require documentary evidence of figures rather than just taking your word for it.  However, reputable businesses operating in that space will inevitably wish to protect that reputation by taking security seriously!

uknick

I can only assume they want the information to check your return is correct.  As an agent they do have a responsibility to make sure the information is correct.

But, I have to ask if you have such trust issues why on earth are you dealing with a faceless organisation?

Cobbler_tone

I think you have answered your own question. If you have trust issues why on earth are you using them?
Not a Nigerian Prince by any chance? 

Bookworm105

they want it because they must do their own due diligence to check what you say is correct before they file with HMRC

as others have said, if that concerns you then use a face to face accountant and be less money saving (cheap) or go totally cheap and go DIY 

Grumpy_chap

wouldappreciatehelp said:

Hello all, I have an "online accountant" doing my self assessment tax return and I have trust issues! They want me to send my savings account statements, pension statements, and mortgage statements to them by email. I feel like this is giving away all the details needed to steal my life savings! Even with a mortgage statement for example, is there a danger the information could be intercepted and someone could borrow money against my house?

I'm not sure why all these statements are needed as I have provided the information already - the savings interest earned (less than £1000 over the last tax year), pension contributions (£0 last tax year unfortunately), and loan interest paid on my one house which is rented out at the moment.

Should that suffice do you think or do I really need to send them details of my pensions, savings account and mortgage account over email?

Thank you very much for any advice.

PS Sorry this is not to do with cutting my tax bill - more to do with keeping my money safe while making sure I'm paying the correct amount of tax. I couldn't find a category for that but would appreciate advice. Many thanks!

How did you find the "online accountant"?
Can you find a local Accountant by recommendation?  That should be a good step to overcoming the trust issues.

Thewire7

i would recommend finding a local trusted accountant to assist you.  any accountant should request statements to ensure that the information is accurate