Is tax really that complicated?

Is tax really that complicated?

Whether you’ve been working as a plumber for decades or are just starting out in the industry, there’s much to consider on a monthly basis from a financial point of view. From advertising fees to purchasing tools and materials, sometimes it can seem like the list of bills are never-ending. But Go SimpleTax believes if there’s one thing you don’t have to fret over it’s filing your tax returns – and it doesn’t even require an accountant.

The deadline for 2015/16 tax returns is 31st January 2017. Whilst many may be concerned about going it alone and doing their own tax return, Go SimpleTax does not believe there is a need to worry.

The tax ‘system’ isn’t too complicated
We’re told endlessly that tax is knotty and complex. While the rules for Self Assessment are of course more complicated than those for someone taking a wage from company payroll, the system isn’t as dense as accountants would have you believe.

HMRC has plenty of resources available to guide you through the right protocols. What’s more, jargon-free software like Go SimpleTax demystifies the whole process, with support at every step to make completing your tax return easy.

Their language is confusing
Accountants aim to help their clients, but occasionally this mission is lost in the avalanche of industry terminology they’ll throw at you. It takes years of experience to understand finance; the specialist you’ve hired may forget that you might have no prior knowledge about the subject they’re explaining to you.

You need an assistant that can speak on your level, presenting information in a way you can understand. That’s where selecting online software that uses simple language can help bridge the gap that accountants often fail to overcome.

What’s the hold up?
Checking and verifying tax returns is a time-consuming process, especially when your account is merely one in dozens or hundreds that have landed on the accountant’s desk. Consequently, you might have to wait a while before you hear the verdict of your Self Assessment.

By completing your tax return online, you can have your form sent off in as little as 30 minutes. So rather than hounding your accountant, you’ll save time, frustration and money.

Online software is far superior
All of this leads us to our main point – there have been advances in technology, and the established financial institutions aren’t too happy about it. That’s because the hole an accountant might fill has been plugged with real-time, automated software.

SimpleTax is officially recognised by HMRC, allowing direct submission of your tax return to its system. Its developer, GoSimple, is also working closely with HMRC on the implementation of Making Tax Digital (MTD).

Clever algorithms move with the speed of your cash flow, and you can scan relevant receipts and documents to make cross-checking your return simple. It’s the fastest and most convenient method of getting your Self Assessment tax return on track and can help you make savings you didn’t even know were possible!

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