Everyone procrastinates doing taxes until one day there is no time left and tax day is looming over our heads. 31st January 2020 is fast-approaching again and there’s nothing you can do to avoid the stress that comes with it, unless you let the tax experts at CEM Bookkeeping & Accounting Limited do your self-assessment tax returns while you relax! Not only can you be carefree throughout January but hiring our team would also provide the following advantages:
It can take several hours to dig up lost receipts and documents and start preparing for your tax return. Hiring a tax professional can save you loads of time and efforts wasted on a tax return that could have been prepared professionally by an expert.
The ever-changing tax laws can be difficult for a layman to keep up with. You may miss out on a tax credit or a deduction if you’re not updated with the tax laws. However, it is the job of a tax expert to have an up-to-date knowledge of tax laws and hence, they can identify tax breaks in your returns easily.
This wouldn’t only minimize your tax liability but also result in higher returns for you.
Avoid Penalties and Interest:
Tax professionals ensure your returns are accurate and precise. In case of inaccurate returns resulting in understatement of tax liability or overstatement of tax returns, HRMC may charge you penalties. Also, any outstanding taxes due to understatement of tax liability would also incur interest charges commencing from the day the payment was due.
It is always in your best interest to hire a tax expert since tax laws change every year that aren’t always too easy to understand or remember. It is the most convenient way of minimizing your tax liability and maximizing your tax returns.