Cheap Tax Returns – What to look out for

With everyone trying to reduce costs during the economic downturn you may be looking for the cheapest deal on your tax return. We offer some sound advice on what to look out for this tax season when shopping for a cheap tax return service.

Do I need to complete a tax return?
It depends on your income and professional situation. There are a variety of reasons why you might need to do a tax return and they include:

  • If you are self employed
  • If you are lived or worked in a foreign country.
  • If you are a company director
  • If you have income from savings and investments over £10,000
  • Income from renting property of £2,500 or more
  • Your yearly income exceeds £100,000
  • If you have capital gains tax to pay
  • If you need to claim expenses or relief’s

How do I find the cheapest tax return service?
The best way is to shop around. Most tax accountants will provide you with a free quote for their services and the price will be based on the time taken to perform the required work. Prices will vary greatly, from anywhere between £100 to many thousands of pounds depending on the complexity of the tax return.

What should I look for in a tax accountant?
Often people feel more secure using a qualified accountant who is a member of a professional body. Being a member of a professional body provides you with an assurance that the accountant will work in your best interests.

What is the deadline for completing a tax return?
If you want to complete a paper tax return the deadline is 31st October. Your tax accountant should be registered so that they can file your tax return online. The deadline for filing your tax return online is 31st January. If you do not complete your tax return by this date you will be issued with an automatic £100 fine by the Inland Revenue.

Tax Returns for £99

apply for a tax rebate

Disclaimer: The above information can not be taken as advice and is for illustration purposes only. Please call Tax Fix before making any claims or confirmation. Tax Fix can not accept any liability for action taken and any losses incurred.

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