Quizzes & Puzzles0 min ago
do i need an accountant
my tax affairs are very straight forward
same payment,same customer,same mileage...
registered sole trader
same payment,same customer,same mileage...
registered sole trader
Answers
In my opinion I wouldn't recommend an accountant. I think David is looking at this far too deeply for what you need.
I went on a course provided free by the HMRC that showed me how to complete a tax return and how to get all the calculations correct, might be worth looking for one in your area.
I went on a course provided free by the HMRC that showed me how to complete a tax return and how to get all the calculations correct, might be worth looking for one in your area.
22:23 Thu 17th Feb 2011
ohh sorry that was for vat registration. It depends how complete and accurate your book-keeping is and whether you actually understand the principles of accounts preparation. If you look at the "profit and loss account" prepared by your accountant and havn't a clue what it all means, then you shouldn'e try to do it yourself. However, if you can understand it, where the figures come from and what year end adjustments are needed (accruals, prepayments, debtors, credtitors and depreciation), then you should be able to manage fine. Of course, your underlying accounting books and records must be complete, accurate and properly balanced or you wouldn't have anything to start from.
Doesn't sound like you NEED an accountant BUT they can save you a lot of money in the long term. If you are sure you are claiming for everything you are entitled to claim for then its probably not worth the expense of one, but otherwise they will save you money every year which eventually makes them worthwhile