Do I need an accountant for self assessment?

Question

Expert Bookkeeping Services · Accepted Answer

Not legally, but many sole traders and landlords use one to avoid errors and penalties, claim all allowable expenses and handle payments on account. Clean bookkeeping makes the return quick and cheap. Know what you must report Self Assessment can include self-employment, property, investment and other income, not just your business profit. Allowable expenses, accounting basis, losses and payments on account can make the return more complicated. You remain responsible for accuracy even if an agent prepares or submits it for you. Prepare before the deadline Keep reconciled business records, income statements, pension and donation evidence and details of other income. Check registration and filing requirements for your situation. Ask the adviser to explain the tax calculation and future payments before submission, and retain a copy of the filed return and supporting records.

Do I need an accountant for self assessment?

Short answer

Detailed answer

Know what you must report

Prepare before the deadline

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