Tax Return Services East Sussex
If you need help filing your personal or business tax, please contact us at Elite Business Accounting Limited. We will get back to you quickly.
We'll Make Your Tax Returns Easy
Expert Tax Advice
Our Tax Services
Do I need an Accountant to File My Tax Returns?
If you’re asking “Do I need an accountant for tax returns?” the obvious answer is yes! You may have just started up a new business, or you might be earning a self-employed income, whichever one you chose, engaging an accountant to complete your Self Assessment can only be the right idea.
It is the efficient way forward, and you could save yourself more money than you spend on the service in the first place. Self-Assessment tax returns can be a minefield to the layman. Gone are the days when it was just a case of recording income and expenditure.
Duality of Purpose
These days expenses can have a duality of purpose meaning what could be construed as a business expense may also have the purpose of being a personal expense, for instance should you be unfortunate enough to have an injury such as strained muscles through work, visiting a Physiotherapist, Osteopath or Chiropractor will not be seen as ‘wholly and exclusively’ for business as you need the same muscles for everyday life as well as business.
Eye tests and purchasing glasses will also have a duality of purpose as they are needed for work and personal.
These are just two examples of expenses which will not be accepted by HMRC but can be argued they are needed for work. It is complicated to identify what can be accepted by HMRC and what can’t, this is where having a professional tax return accountant to deal with your self-assessment tax return is the best way forward.
Submitting a tax return
These days submitting a tax return can be done online. Generally it can be simple provided the right software is in use. Savings can be made in completing tax returns well in advance of the deadlines. This would give you ample opportunity to budget for tax liability without it compromising savings set aside for special occasions, such as Christmas and holidays. Elite ensure that accounts can be completed and submitted well in advance of such occasions.