Outsource Your Tax Returns
Every business, large or small must deal with tax returns every year. As well as consuming time, this can often lead to errors which could cost your business more money than taxes. Outsourcing your tax returns to professionals is the best option for your business and there are several reasons why
Roger Hatherall & Co can manage the tax returns of every business throughout Bath and beyond. With our team, there is never a risk of an error and tax returns will be submitted on time.
Last year, 870,000 self-assessed taxpayers filed their tax returns late, which could lead to hefty fines. Although your initial lateness may just result in a warning, reoccurrence of this problem will cost your business a great deal of money. With so many people missing the deadline through carelessness, outsourcing tax returns is a suitable idea.
Whereas your business may have other issues to worry about at the same time as the tax deadline, accountants are fully committed to submitting your taxes on time, directly to the HMRC. This ensures there are never any missed deadlines and that your tax returns will not receive fines due to repetitive lateness s.
Reduce Costs & Save Time
Apart from fines, paying for staff members to manage your tax or doing it yourself is either going to cost you time or money, something you do not want to part ways with. An accountant can save you both time and money, making it the best option when you require tax returns to be made.
There are many fines that you could receive if you continue to file incorrect or late taxes and these problems are easily avoidable. Penalties for missed deadlines can start at just 100, but if you continue to make mistakes after this, it could result in your tax being almost doubled within your fine. This will have a massive impact on your business and using an accountant could be the safe option.
It is a legal requirement to keep your tax records for at least five years after January 31st in the year they were submitted. Failure to do this could cause issues or leave you unprepared for tax investigations and these are not the only finances you should be recording.
By having every transaction of your tax year recorded, it makes filling tax forms and filing your tax return much easier. This is something you must record as a business to avoid any chance of punishment due to incorrect returns. By having all financial transactions available, you can always back up your final tax return and ensure the tax returns are completed perfectly.
Using the correct software, recording finances and digitally submitting taxes has never been easier and something our accountants can manage effectively.