With the self-assessment deadline looming, you only have a few weeks left to file your tax return. If you are self-employed and turnover more than £1000 a year then you will need to do a return online by the 31st January to avoid getting hit with a hefty penalty.
Tax returns can often be a nightmare for many people. They may be brilliant at the job they do but struggle when it comes to finances and taxes. You may decide to use an accountant or book keeper who will manage all of your day to day accounts and tax returns or you may decide to go it alone. If you use an accountant or book keeper, there are varying levels of services they offer and costs associated with these.
If you are happy to keep track of your day to day spending then you may just want to use an accountant to finalise your annual incomings and expenditure and file your tax return. If you would rather not get involved in any of it then you may use someone that you can just send a box of receipts to and invoices who will sort it all out for you.
If you chose to do your own accounts then you need to make sure that you stay on top of it and have systems in place to ensure that you record all sales and expenses and keep copies of receipts should you be audited.