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Chartered Accountants

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Frequently Asked Questions

Can I do my own tax return?

Yes.

Then why do I need an accountant?

You have a duty to ensure your return is a complete and accurate account of your earnings and to know what expenses you can and cannot claim. Not only can you get into trouble with the authorities for an inaccurate return, you could also end up paying too much tax.

When does the return have to be submitted?

Tax returns must be with the Inland Revenue by 31st January following the end of the tax year to which they relate. Eg, for the tax year ending 5th April 2012, the return must be submitted by 31st January 2013. If your return is submitted late, you are liable to an automatic 100 penalty and interest on the tax due, which increase further as the return becomes more overdue. Amati UK will remind you in plenty of time of what you need to do to ensure you meet this deadline.

When do I have to register as self employed?

You must register as self employed with the Inland Revenue within 3 months of starting work, or else you can be fined 100.

How much does it cost?

The most basic tax return can start from as little as 99, and as Amati UK is not VAT registered, this offers a real saving to individuals on fees. Individual fixed fee quotes will be provided upon request, based on your earnings, sources of income, and personal record keeping. Very often the tax saved through professional knowledge and expertise is far more than the fee.

NB If you are reading these FAQs then it suggests that you NEED an accountant and should contact us today!

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