Tax Return

Discussion in 'Finance, Property, Law' started by Baghdad-Brit, Aug 5, 2005.

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  1. I have got to submit a Tax Return for the first time.

    We own other property that generates rental income so I need someone to do the accounts and help me out.

    Can anyone recommend a decent company to help out with tax returns that don't cost an arm and a leg?

  2. ^If you are in UK, contact your local tax office. Our's runs workshops to show people how to fill in their own Tax Return. Don't give yourself the expense of an accountant if you don't need to.
  3. You could also try the online tax return

    Inland Revenue

    You'll need to register, which takes a few days, but then it's just a matter of filling in the boxes as you go, and it'll work out how much the taxman owes you . . . . . .

    There's plenty of online help, and if you only have the one property, you could probably do the accounts yourself.

    Kind regards

  4. I'll second that. If you only have one property then it is fairly simple to fill in the income from property section. The work you need to do (working out income, expenses etc) might take some time and it is worth sorting out the paperwork concurrently with getting your tax return.

    I used the internet to file mine for the first time this year; whilst getting a login id and pin is a touch bureaucratic once you are in to the site it is very quick and simple to use.
  5. Thanks all.
  6. BiscuitsAB

    BiscuitsAB LE Moderator

    I would like to tender the other side of the argument here. Get an accountant, yes of course you can complete your return yourself but you may miss something and for the sake of a couple of hundred pounds that in itself can be offset against tax you will save yourself the grief of doing it.

    My Accountant is a member of AIMS which is a national francise group they are bound to have a practice near(ish) you.
  7. I'm a total bimbo but can do my own tax return. However... it's dull so paying someone else to do it means you can do something more fun instead. Also, Biscuits is correct - it pays to get it right and accountants don't cost the earth. You may have a friend or business contact who can recommend an accountant although some can be reluctant to take on 'small' clients.

    Biscuits, I must stop agreeing with you - it's ruining your reputation.
  8. Get an accountant for the first one, so you can understand what you can and can't claim then DIY in subsequent years. BTW make sure it is a tax accountant - some of the biggest cock ups are made by non-tax accountants!
  9. Can you recommend one (PM me the info if you know one).
  10. Don't want to hijack the thread but does anyone know if you can claim the costs of travel to and from work back in tax? Just changing jobs and will have a sizeable commute that I am trying to offset the costs of. Thanks in advance.