Is your business due a shake-up? Plumbers should be sure to include some of the following advice for making tax simpler, less time-consuming and easier on your wallet.
1. Ditch the accountant
In the past, an accountant was crucial to making your funds watertight. But now they’re becoming redundant, or at least overpriced (by and large) for the services they offer. Whereas an accountant would charge, on average, around £250 to complete your Self Assessment tax return, it’s now easy to do this yourself.
Digital software such as SimpleTax gives you an accurate picture of your income and expenditure, while guiding you on how your Self Assessment should be composed. Cost-wise, these tools start from as little as £25 for an annual subscription.