A doctor friend contacted Steve last weekend. He’d prepared his own Tax Return but couldn’t understand why his tax bill was so high. An hour’s work over a coffee resulted in a tax saving of over £4,300!! Basically, he’d put one figure in the wrong box, and another element of the demand just wasn’t due but HMRC’s system is set up to take the money and give it back months later (if you’re lucky!)
Our tax system is far too complicated, and it is very easy to make a mistake that will cost you. You’ll wait ages for HMRC to answer the phone and even if they do, they probably won’t know the answer, or worse, tell you the option that gives them the maximum tax take!
Even “simple” returns often need an expert review, and the savings often outweigh the cost.