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Four reasons why you don't need an accountant

Money saving advice for those doing accounts and accounting
By Editorial on Jan 16th, 2017   @freelotteriesuk

Tax matters tend to be couched in an assumption that regular people don’t have a clue what they’re doing. It’s the predication that keeps accountants in the game, as they profess to understand your finances better than you. Really, in most cases, anyone can file a tax return, or manage their money without an ‘expert’ at their side.

You can save, on average, £250 if you choose to submit your tax return yourself instead of hiring an accountant. In case you’re worried about going it alone, here are four reasons why you can:

1. The system isn’t too complicated

We’re told endlessly that tax is knotty, complex and unnavigable. While the rules for self-assessment are of course more complicated than those for someone taking a wage from their company payroll, the system isn’t as dense as accountants would have you believe.

HMRC has plenty of resources available to guide you through the right protocols. What’s more, jargon-free software like SimpleTax demystifies the whole process, with support at every step to make completing your tax return easy.

2. Their language is confusing

Accountants aim to help their clients, but occasionally this mission is lost in the avalanche of industry terminology they’ll throw at you. It takes years of experience to understand finance; the specialist you’ve hired may forget that you might have no prior knowledge about the subject they’re explaining to you.

You need an assistant that can speak on your level, presenting information in a way you can understand. That’s where SimpleTax bridges the gap that many accountants fail to overcome, bringing you into the loop without leaving you baffled.

3. What’s the hold up?

Checking and verifying tax returns is a time-consuming process, especially when your account is merely one in dozens or hundreds that have landed on the accountant’s desk. Thus, you might have to wait a while before you hear the verdict of your self-assessment.

By completing your tax return online, you can have your form sent off in as little as 30 minutes. So rather than hounding your accountant, you’ll save time, frustration and money.

4. Online software is far superior

All of this leads us to our main point – there have been huge advances in technology, and the established financial institutions aren’t too happy about it. That’s because the hole an accountant might fill has been plugged with real-time, automated software.

This article was supplied by SimpleTax.