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Tax Returns

Discussion in 'General Business Forum:' started by Tony Hardy, Jan 24, 2013.

  1. Tony Hardy

    Tony Hardy Guest

    Who attempts their tax returns themselves, and who hires an accountant?
    Originally I was going to do them but wussed out at the first hurdle and called my accountant friend. Think it's definitely a lot safer in the hands of a professional!
     
  2. berry

    berry Active Member

    I have a friend accountant who does them for about £250.00 saves an aweful lot of hassle!!! He is local so if u want his number pm me
     
  3. Tony Hardy

    Tony Hardy Guest

    I got it sorted with my accountant friend for about the same price! :) No problems at all!
     
  4. Levi

    Levi Moderator Staff Member

    do it myself (now doing the last bits actually)... and I'm aiming to get myself ahead for next years return as well....
    Mind you my accounts are probably a bit easier than some as it's literally what I get paid and what I spend on hardware/software/stationary etc for business. I'm not buying and selling stuff or dealing with things like hosting for other people so my accounts are fairly simple.
     
  5. Squiddy

    Squiddy Guest

    Accountant here, £100. ;) I heard the HMRC aren't the nicest bunch of people you'll meet, so I thought I'd play it safe and just hire a professional!
     
  6. Tony Hardy

    Tony Hardy Guest

    Bargain :) Has your accountant been good up to now too? Also heard the HMRC aren't nice chaps/chapettes so also decided to play it safe!
     
  7. Squiddy

    Squiddy Guest

    Well, because I've only been freelancing for a year I haven't had to do any of it yet. He advised me to register my start date for being self employed after the 6th April so that I don't have to do anything for the upcoming deadline. I will let you know how it goes after the first episode with HMRC.... lol.
     
  8. I just did it myself.. all done and got it paid end of last month :)
     
  9. Thewholehogg

    Thewholehogg Active Member

    Gulp!
     
    Greg likes this.
  10. Tony Hardy

    Tony Hardy Guest

    I didn't have to do one this year with only recently starting to trade, but it's all in place for next year.

    Do you guys keep Excel spreadsheets of your incomings/outgoings?
     
  11. Levi

    Levi Moderator Staff Member

    Excel spreadsheets, yeah I do
    Got it all set up so that I put data into a 'tab' relating to income/expenditure/capital expenditure etc which is then automatically linked to a 'summary' page for easy reading :)
     
  12. Tony Hardy

    Tony Hardy Guest

    Sounds fun. I've only got a basic understanding of it. Managed to make sure it calculates how much tax I need to set to one side. That's as adventurous as it gets.
     
  13. Levi

    Levi Moderator Staff Member

    thats about advanced as I go with excel lol, it does sound harder than it actually is though.
    Next thing on my agenda is an access database file with all my work references and descriptions etc for easy reference as I'm trying to go as paperless as possible but I've got to figure out how exactly I'm going to set this one up :)
    Combined with a new website and 'documents', plus a possible switch to windows 8, it sounds like I'm going for a complete overhaul from scratch lol
     
  14. Squiddy

    Squiddy Guest

    Excel spreadhseets here too. However, I'm sure there are better 'web tool' services out there for us to find.
     
  15. Levi

    Levi Moderator Staff Member

    You could use something like sage or another accounting software, some like ms money for example...personally thats just more expense to me when excel can do what I need using a few simple formulas :)
    My bank, barclays, even had some software too but found out when I got home that it cost money per month (funny how they skip that bit at the bank) and so that went back sharpish when it 'didn't work on my pc'
     

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