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Why you may need an accountant and a few tax tips from Just Pure Book-keeping & Accounts Ltd.
Why have an accountant?
Having problems with that end of year tax return? Just have too much work to bother with completing it? Wouldn't you rather pass it to a
professional who can ensure that you are claiming all your expenses?
Be careful when hiring an accountant!
It's true that the bigger firms look very swish, have lovely offices and many competent staff, but big doesn't always mean better.
It's all very well providing a great compliance service, which all accountants should do. Compliance is the "boring" stuff as far as clients are
concerned - the filing of the tax return, the running of the payroll, the completion of the VAT form - all necessary stuff, but it doesn't really
help the clients in a proactive way. Sadly however, it's just the compliance work that most accountants provide.
Clients want more than that. The word 'proactive' is bounded around like it's going out of fashion. But the reality is often very different than
the promise.
Showing clients ways to put more money in their bank account, showing how their results compare to other firms in the same industry, showing how
they can make a real difference to their lives - that's not compliance, that's proactivity - that's what clients want, and that's what we do!
Have a look at the '23 things your accountant should be providing' PDF below to see what we offer - if your accountants are not offering these at
the moment, it may be time to think again about what added value you're really getting...
Download '23 Things to Expect from your Accountant in a Recession.pdf'
A few tax tips.
We would like to share a few "tax tips" with you - we hope you find them useful.
Pay tax on time - more useful than you might think! The Inland Revenue charge interest on late
payments... be late and you could pay a lot more than you bargained for!
Submit your tax return on time - again, another basic tip but doing it can save you lots of money!
With the fines starting at £100 for even being a day late, it pays to be on time!
Don't forget Class 2 - no, we're not going back to school! You must always check if you are
self-employed that you are paying Class 2 National Insurance contributions (unless you are earning less than the threshold) - currently at £2.50 per
week. It's not a lot but the difficulties can be if it's found you're not paying it!
Don't try to pull the wool over the Inland Revenue's eyes - it might seem tempting, but it just isn't
worth it - the chances of you being found out are too high.
Claim your personal allowance - everyone gets a personal allowance each tax year - in other words,
what you can earn before you pay any tax - use it!
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