Can I do my own accounts and tax return?

This is one of the most common questions we hear from individuals and small business owners. At first glance, managing your own bookkeeping and filing your tax return might seem like a sensible way to save money. After all, there are software tools available and HMRC's own marketing tag line of "tax doesnt need to be taxing" suggests it is simple and easy. But is it really the best choice for you or your business?

The truth is, while it is entirely possible to do your own accounts, it often comes with hidden risks. One of the biggest concerns we see at Butlers Chartered Accountants is the cost of mistakes.

The UK tax legislation is 21,000 pages long. That is the equivilent of 12 times the length of Shakespears works. Whilst no accountant can claim to know all 21,000 pages, they will have a great deal of knowledge that you will not be aware of.

The legislation within these pages cover the detailed requirements on how to compute your income and expenses, how you claim deduction and in what amounts and dates. Common errors include under or over reporting income, missing out on allowable expenses, claiming expenses you are not entitled to or simply missing filing deadlines. Even small errors can result in penalties or investigations by HM Revenue and Customs, not to mention the stress and time involved in fixing them.

Working with Butlers we will interpret tax laws relevant to you. Provide tailored advice, and help you make informed decisions throughout the year. Together we can resolve any issues before they escalate and implemet better systems moving forward.

By working with an accountant, you gain more than accuracy. You gain peace of mind, strategic insight, and often, financial savings that far outweigh the cost of our services. As your accountant, we become a trusted advisor, helping you grow with confidence and avoid costly pitfalls.

If you would like to discuss how we can take over your accounting and taxation tasks to provide peace of mind whilst you get on with your business we are here to help.

The first step is to book a free, no obligation discovery meeting where we can discuss your requirements.

If you would like to learn more about working with us you can book a discovery meeting here:

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