fbpx

How much should you pay for your tax Return?

Finding an accountant that is affordable and equally competent to handle your business is a difficult task. Still, if you find one with less fee but not sure about his credentials, there is no surety that you won’t get slapped with a penalty at the end of your financial year. As a self-employed business owner, you look for an accountant to handle your NIC, tax returns and other taxes. You can make tax return fee comparison manually to evaluate the best option without compromising on the services and we will explain it to you how.
There are about five million entrepreneurs and individuals who are working for themselves in the UK. You may well be enjoying the freedom of working for yourself as a freelancer, but you have to pay the government in due time. This means that you have to register yourself as a freelancer with HMRC.
How can I pay my tax as a freelancer?
Being a freelancer means that you are sitting and working through your cozy blanket where you don’t have to worry about your business employees.
HMRC does not differentiate between a freelancer and other types of self-employed business person like sole trader. You will be considered as a business partner or a sole trader if working as a freelancer. Either way, you will have to pay income tax and National Insurance contributions (NICs).
Paying taxes as an online small business owner
Digital business is the way forward. More and more people are selling their product through online platforms. Selling from the comfort of your couch surely brings ease but you have to pay taxes on it. Running a business from home makes you self-employed online seller and you will have to register yourself with HMRC.
Being an online seller or working as a freelancer means that you are flying solo. It is always desirable to have someone on your back to divide the load, but money constraints usually don’t allow sole sellers to afford this luxury. You will have to do every task yourself and sometimes it means doing something that’s not your forte.
How should I manage my accounting as a sole business owner?
One the most important tasks as a sole business owner or seller you will probably experience is accounting. Let’s just say that you are making a lot of profit as a freelancer and tax payments are piling up on the other end, you must handle this by yourself. But you don’t have to leave your stronghold. It is better that you stick to doing what you do best.
Most of the business owners often run by the accountants who are cheap but inexperienced. Ultimately, they face the consequence of their decision in the form of penalties and fines by the HMRC. Going with an affordable option is the ideal way, but in doing so you don’t want to get ripped off by a quack accountant. They can ruin your accounts and destroy your dealings.
How can I find an affordable but expert accountant?
Firstly, you have to do your research. You may find plenty of people offering their services from the backyard of their homes. Don’t pay heed to every other cheap offer. The Internet besides making everything easy made one thing difficult, which is to find an appropriate service among so many search results. It saturates everything where you will have to collect the best pick and sometimes a blind pick.
Your accounts need care and accuracy to handle. Ask around and most importantly do focused online research. You may select an accountant based on services, fee and tax return fee comparison. What if you can do all this at once?
How much tax return fee do I have to pay to an accountant?
Different accountants demand different fees for their services so there is not a basic formula. It all depends on the kind and scale of your business. But let’s narrow it down a little. Working as a freelancer or a small business owner means that you are a free soul. In this case you will have to:
Pay National Insurance Contributions (NIC)
Pay income tax
File annual tax returns
You will pay your tax while filing the annual tax returns. The average tax return fee varies from £150 to £2-3000. But it depends on the complexity and the nature of your business.
How can I make a tax return fee comparison?
Our platform offers you something that no other website does. We have gathered the most affordable and credible accountant in a very careful manner after making several inspections to confirm their credibility and created a search tool for you. All you need to do is to just put some basic information to see the best possible results for your business. Accounting firm’s platform is designed in a way where you can find an accountant based on your location and your pocket.
The most amazing experience you will get is the superior service with just one click. It will allow you to make accountant’s services like payroll etc., location and tax return fee comparison. Your accounts, NIC and income tax will not hinder your work and it will save your time you otherwise will spend looking for a suitable professional to handle your accounts.

Leave a Comment

Your email address will not be published. Required fields are marked *