Come the approach of a new financial year, self-employed people everywhere start to panic about their tax returns, and how much they will have to pay the tax man, but this process needn't be a difficult or indeed, scary subject to broach - if you use a tax consultancy.
"Going it alone" might sound like a quick fix, but you can go wrong very easily.You could understandably, be tempted to try and pass off certain expenses as "business costs" to save on your tax bill and land yourself in trouble. This is only one example of the potential pitfalls that a lack of professional advice/services over, and one that could come back to haunt you, come April 6th.
Being able to distinguish tax avoidance measures from tax evasion tactics (with the latter being the illegal practice of the two) is something that, if it needs to be traversed, a tax consultancy will be able to help you to do - provided it is within reason an well within the law. They will also be able to determine your obligations, both for your own personal status and the obligations of the business. This could stop you underpaying and later receiving a hefty tax bill and, in some extreme instances, can avoid making you the subject of criminal/fraud investigations or worse - charges.
This practice could stop you underpaying and ultimately receiving a hefty tax bill. In some extreme instances, it can avoid making you the subject of criminal/fraud investigations or worse - charges. In addition to meeting all your legal obligations for tax and national insurance contributions, doing your own tax return automatically takes your time away from the job you're meant to be doing. An unwelcome distraction which you could end up getting very wrong - and paying for dearly.
Tax consultancy services can be procured via quick web searches, but it is also advisable to go off personal recommendations from trusted sources, such as colleagues, friends and even family - be sure to check their credentials though with the financial services authority.
"Going it alone" might sound like a quick fix, but you can go wrong very easily.You could understandably, be tempted to try and pass off certain expenses as "business costs" to save on your tax bill and land yourself in trouble. This is only one example of the potential pitfalls that a lack of professional advice/services over, and one that could come back to haunt you, come April 6th.
Being able to distinguish tax avoidance measures from tax evasion tactics (with the latter being the illegal practice of the two) is something that, if it needs to be traversed, a tax consultancy will be able to help you to do - provided it is within reason an well within the law. They will also be able to determine your obligations, both for your own personal status and the obligations of the business. This could stop you underpaying and later receiving a hefty tax bill and, in some extreme instances, can avoid making you the subject of criminal/fraud investigations or worse - charges.
This practice could stop you underpaying and ultimately receiving a hefty tax bill. In some extreme instances, it can avoid making you the subject of criminal/fraud investigations or worse - charges. In addition to meeting all your legal obligations for tax and national insurance contributions, doing your own tax return automatically takes your time away from the job you're meant to be doing. An unwelcome distraction which you could end up getting very wrong - and paying for dearly.
Tax consultancy services can be procured via quick web searches, but it is also advisable to go off personal recommendations from trusted sources, such as colleagues, friends and even family - be sure to check their credentials though with the financial services authority.
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Do an Internet search for tax consultants Manchester and Suttons IFA should be the firm you pick