Plenty of people file their self-assessment tax returns themselves, but in many cases, it really is better to hire an accountant. So how do you know it’s time to bring an expert on board?

Perhaps you don’t have enough time to get your tax returns right, or maybe you keep missing out on tax savings. Here are the signs that it’s time to hire a self-assessment accountant.

Signs it’s time to hire an accountant for self-assessment

You’re too busy

Whether you’re building a business from the ground up or spending quality time with loved ones, time is your most valuable resource.

Unfortunately, getting your self-assessment right is often extremely time-consuming, leaving you with fewer hours in the day to focus on what really matters to you. What’s more, the busier you are, the more likely you are to make mistakes on your tax return.

When you hire an accountant to manage your self-assessment, you give yourself the gift of time. Once the professionals have the information they need, they’ll prepare and submit your return on your behalf, ensuring that you meet your obligations without upsetting your work-life balance.

You run a business

As a business owner, you’ll already have plenty of responsibilities on your plate. As well as getting your self-assessment tax return right, you also need to keep the wheels of your business moving. So why not hire an accountant?

Bringing in a professional can make it easier to focus on your business. We’ll file your returns with care and accuracy so you can do what you do best.

What’s more, a tax expert won’t just keep you compliant; they’ll also ensure that you claim all of your expenses. As a result, hiring a professional could result in a lower income tax liability and more money to reinvest in your business.

You have complicated financial affairs

If you have complicated financial affairs, it may be time to hire an accountant.

You may have multiple income sources or a large property portfolio – or perhaps you recently made a significant gain from selling an asset. No matter how complex your finances are, a qualified accountant will understand the tax implications, allowing them to keep you compliant while maximising tax savings.

You want to save money

Equipped with an extensive knowledge of the tax system, your accountant knows how to save you money on your return.

From deducting business expenses to claiming marriage allowance and business asset disposal relief, an expert will help you take advantage of the tax breaks and other cost-cutting opportunities at your disposal. With a professional on your side, you’ll never overpay your tax bill again.

You need specialist advice

While accessing online resources can be useful, never underestimate the value of human expertise. If you hire an accountant, they can tailor their services to meet your specific needs, offering expert advice on handling your affairs.

What’s more, if you have any questions or concerns about your tax return, your accountant will always be on the other end of the phone. They’ll also keep you updated if new tax legislation impacts your liabilities, ensuring that you stay compliant no matter how much the tax landscape changes.

You want peace of mind

While preparing tax returns may be second nature to our accountants, we know that many taxpayers dread self-assessment season. Filling out all the relevant paperwork, accurately calculating your liabilities and ensuring that you meet the filing deadline can be stressful, especially if you’ve never done it before.

As your agents, we can take on the burden so you don’t need to worry about potential penalties or missing out on tax relief. We know the intricacies of the tax system inside and out, so you can rely on us to keep you compliant and keep your liabilities to a minimum.

Your peace of mind is our priority, so we’ll be on hand to address any concerns you may have about your tax return and handle communications with HMRC for you.

Want to hire an accountant? Contact us to find out whether you’d benefit from our self-assessment services.