It’s approaching the dreaded time of year where it’s only a couple of months before self-assessment tax returns are due to be fled and any tax due paid. For those that are working closely with their accountant, this should be a seamless process and the bill will be the most efficient calculation for the individual and / or the business.
For those that have not been able to get the information to their accountant until late in the year and not been able to spend any time with their accountant this could be a stressful and expensive period.
The decision of whether your tax returns should be self-prepared or prepared by your accountant is more important than most people realise. There is obviously a fee for having a third party prepare your tax returns and this price will vary depending on how complex your individual or business situation is. However having a professional prepare your tax returns is actually a saving in both time and money.
The amount paid in tax without profession advice, versus the amount due with proper advice, experience and knowledge of the tax laws could be quite substantial.
Working with your accountant allows them to develop and communicate tax strategies that will help to lower and minimise the amount of tax due. During the tax preparation process this support allows the taxpayer to take advantage of the all the eligible deductions and tax credits to minimise taxes and over a period of time, generate additional cash flow.
A good accountant and / or professional tax preparer provides much more than simply completing and filing the return on your behalf.
They also offer:
- Years of education, training and experience in tax preparation.
- Accessibility when needed on the phone, email or in person during and after tax season.
- Help and assistance during the preparation process.
- Time to sit with their clients to retrieve the correct information, prepare the returns and achieve the most cost efficient final figure.
- The ability to listen to their clients’ needs to really consider their unique financial situation and opportunities.
- Suggestions and recommendations to make future savings.
Here at Keen Dicey Grover we make it our mission to support our clients throughout the tax season and beyond. We work hard to spend time with our clients to understand their business and ensure they are operating in the most tax efficient manner.
Ensuring our clients feel informed and confident about their taxes and finances is a main priority. This allows individuals and businesses to concentrate their efforts on the important tasks of growing their business and revenue streams.
Keen Dicey Grover
We care… we really care