Party Time for Tax? Some advice from James Sheard

balloons1At parties I try to avoid people asking what I do for a living.  Trust me when you say you’re an accountant it doesn’t add to your sex appeal or make people laugh.  More likely people smile politely and look around to see who else is in the room!  It’s a pity because I’m an accountant and proud of it.  The next thing people quite often do is ask for tax advice, so I thought I’d let you have the main things people ask for, so that when we meet next, we can talk about topics other than accountancy – they can be more fun!

  • If you have a buy to let property you should prepare a tax return.
  • If you earn more that £50,000 and claim child benefit you should prepare a tax return.
  • If you earn some money in addition to your main job you should prepare a tax return.
  • It is your obligation to work out your tax and pay it, not the taxman’s duty to chase you.
  • Even if the Revenue have told you that you don’t need to do a tax return, if you have ‘something to declare’ you should prepare one.

Most people can do simple tax returns themselves, but if you need any help, or your tax is more complicated than you feel comfortable with then please give me a call and we can help.  We give advice during normal office hours in addition to parties.

If you have found this post useful and would like to know more about the advice The Accountancy People have to offer, why not book in for a free consultation in which you can review your finances for the year ahead. Link in with James Sheard, email using the form on the right or phone 0161 947 9207