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Tax Return Online – Do your own or find an online accountant?

Doing your own tax return online is obviously the cheap option compared to using an online accountant. However, is it cheaper in the long run?

Have you claimed everything?

If your tax affairs are very straight forward, it could make sense to do your own tax return online. But what if you have anything more complicated like self employment or property income? How do you know you are claiming everything you can? For example, if you do any work at home such as the paperwork, you could be entitled to claim a proportion of certain household bills. Higher rate tax payers would only need to claim additional costs of about £300 to save an online accountant’s fees. A qualified accountant has a duty to take steps to ensure you pay the correct amount of tax. This includes claiming any expenses and allowances that are legitimately deductible.

tax return Online Have you claimed too much, or not declared enough?

If you incorrectly do your own tax return online, even if it’s a honest mistake, you could be fined. The penalties charged depend on the severity, starting from up to 30% of the additional tax due for a lack of reasonable care. Then it goes up to 70% for deliberate errors. So a lack of care resulting in an underpayment of tax of £400 could cost you more than an online accountant.

Will you do your Tax Return Online and on time?

We all know what a chore it can be to dig out all of your paperwork and complete your tax return online. That’s why so many leave it until the last minute, or even file their tax return online late. Filing late by just 1 day will cost you £100, which increases by a daily £10 if filed more than 3 months late.

Find an online accountant?

As well as helping to prevent all of the above, an online accountant can identify other ways of saving tax. Ways that many people doing their own tax return online wouldn’t have heard of. Such as obtaining tax relief by investing spare cash in a Seed Enterprise Investment Scheme. We charge between £50 and £200 plus VAT to prepare and submit your tax return. Why risk paying more in penalties? Contact us now for peace of mind.

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This is the first time I have used cloud based accounting. It has been a refreshing change. I found Paul to be extremely helpful in setting things up being a new user. Communication was done by email and i always received a response within a day. Very knowledgeable and excellent communication. And a fantastic bonus was that the service was 1/3 cheaper than what i was paying using a traditional accountant. I would without hesitation recommend Paul. Just brilliant.

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Anthony PearceAnthony PearcePearce UK Consulting Ltd
Good accountant with proven electronic processes."

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Jesús CarreraJesús CarreraBitien Ltd

It took me a while to find an accountant that understands the needs of the modern times. Paul is very good at using cloud systems that reduces unnecessary paperwork (specially in printed form), and accelerate communications. My accounting and bookkeeping is less annoying now. Thanks Paul.

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D McIvorD McIvorBeyond the Fridge (Frome) Ltd
We’ve been with Cloudbook Accountants for some time now and would highly recommend Paul Colman FCA to any business looking for a truly enlightened advocate of online accounting and integration to online services. Having experienced several accountancy firms during my career, both large and small, I can honestly say that Cloudbook’s holistic approach to our business is by comparison the most efficient and cost effective, something we’ve long been searching for!"

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Martin KruusimägiMartin Kruusimägi
It has been great working with Paul. He is punctual and accurate, but I most appreciate the fact that I can go to him with any question, no matter how insignificant or elaborate. Thanks Paul, it's been a pleasure!"

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L FergusonL FergusonPaul Ferguson Electrical Ltd
I really appreciate your help, I know we pay you but you have been worth every penny and I am truly thankful for your assistance!!"

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Trevor HolmesTrevor HolmesPrecise Marketing Ltd
I have yet to meet someone as meticulous with numbers and calculations as Paul. An extremely personable individual who knows his work inside-out. He is highly self-motivated, independent and efficient – all the qualities that I look for in an accountant for my business. All of my accounting needs are immediately processed well ahead of schedule. Paul plays a pivotal role in all my financing activities, which allows me to successfully grow my company. He will be an asset to any company that decides to use his services and I recommend him completely for any accounting needs."

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Annie MulvanyAnnie MulvanyFreelance Show Caller

Paul was a delight to work with. Flexible, understanding and endlessly patient; I would recommend him in a heartbeat.

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Jhem MurrayJhem MurrayJeystone Media Ltd
We have used several accounting firms in the past and switched quite a few times, but since discovering Paul Colman FCA I can say with confidence that this is the level of service and value we have been looking for all along.

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Zafer SaygilierZafer SaygilierSayturk Ltd
I have been dealing with Paul for the past 2 years, he has been amazing sorting out my very complex and disorganised affairs in no time and has provided me with clear advice and solutions tailored to me and my operations . I would recommend him and his professional services to anyone without any hesitation."

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A CuryA CuryHouse of Greenland Ltd
Since the beginning of our start up and especially during busy and pressuring times, Paul has been by our side to help us dealing with accountancy. His patience with my lack of talent with numbers was amazing - I thank him for that and would recommend him in a heartbeat."

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Gabrielle ShegogGabrielle ShegogSimple Software Solutions Ltd

Paul has been invaluable in providing accountancy services for my small business. As a small business owner, my time is valuable and so it's great having the piece of mind that I can rely on Paul to sort out my accounts for me. He is always prompt and clear in explaining anything I don't understand and I look forward to working with him well into the future.

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Steven TrotterSteven Trotter
Many thanks for a very fast and professional job and look forward to working with you again."

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Iain CowardIain CowardBiggerbet Ltd

Paul did a great job with our accounts. He delivered on deadline with minimum hassle for us. He uses technology very well and this helps provide top-notch service.

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Mike BellMike BellJourneys To Wellbeing Ltd
Paul Colman takes all the pressure off and lets us get on with our work by taking care of the little detail as well as the big picture."

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