do i need an accountant?
I have set up a small business - self employed - do I need an accountant ? or can I simply do it all myself - I am currently just keeping a monthly spreadsheet with all my incomings and outgoings ? not sure what I need to do when it comes to tax returns.
Other - Taxes - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A good accountant can save you more than their fees by making sure you claim all the allowances and tax breaks you are entitled to: capital depreciation (use of vehicles for example), indexing, losses,VAT etc.The taxman isn't obliged to tell you! A spreadsheet doesn't sound enough.You'd also need receipts, as you can offset any expenses against your tax bill.
Answer 2 :
Yeah most Schedule C taxpayers will need an accountant.
Answer 3 :
yes
Answer 4 :
I would say yes, more like it the accountant will do a better job and keep all your accounts and paper work up-to-date, also he can provide you with advice if needed.
Answer 5 :
HMRC has all the answers and you can do your tax yourself, go to the small business section it greatly depends if you are a ltd business or partnership
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