Do You Need an Accountant for a Tax Return?

Uncategorised
February 17, 2025

So, Do You Need an Accountant for a Tax Return?

Filing a tax return can be straightforward for some, but for others, it can be confusing, time-consuming, and stressful. Whether you’re self-employed, a landlord, or earning additional income, you may wonder: do you need an accountant for a tax return? While it’s possible to file a return yourself, hiring an accountant can save time, reduce errors, and help you maximise tax savings.

In this blog, I’ll explore when you might need an accountant, the benefits of professional tax support, and how to decide what’s best for your situation.

1. Can You File a Tax Return Yourself?

Yes, if your financial affairs are simple, you can file your tax return using HMRC’s online system. This works well for individuals with:

A single source of income (e.g., a salary with minimal additional earnings).
Basic self-employment with limited expenses.
No complex tax relief claims.

However, if you have multiple income streams, claimable expenses, or business-related deductions, filing on your own can be more complicated.

2. When Do You Need an Accountant?

If You’re Self-Employed or a Small Business Owner

Managing income, expenses, and tax liabilities can be overwhelming. An accountant ensures your records are accurate and that you claim all eligible deductions.

If You Have Rental Income

Landlords must report rental earnings and claim allowable expenses. Accountants ensure compliance with HMRC regulations while helping you reduce your tax bill.

If You Have Capital Gains or Investments

Selling property, shares, or other assets may require you to pay Capital Gains Tax. Accountants help calculate your tax liability and identify potential reliefs.

If You’re Unsure About Tax Reliefs

Many people overpay tax because they’re unaware of deductions or reliefs they can claim. An accountant ensures you don’t miss out on potential savings.

If You Want to Avoid Errors and Penalties

Mistakes on tax returns can lead to fines or HMRC inquiries. An accountant ensures accuracy, reducing the risk of costly errors.

3. Benefits of Hiring an Accountant for Your Tax Return

Save Time

An accountant takes care of calculations, document preparation, and filing, freeing up your time for other priorities.

Reduce Stress

Filing a tax return can be stressful, especially if you’re not confident with tax rules. An accountant simplifies the process and ensures everything is correct.

Maximise Tax Savings

Professional accountants identify allowable expenses and reliefs that you might overlook, helping to reduce your tax bill legally.

Ensure Compliance with HMRC

With tax laws changing frequently, an accountant ensures your return meets all HMRC requirements, so you avoid fines or complications.

4. How TRW Accountants Can Help

At TRW Accountants, we specialise in preparing and filing tax returns for individuals, self-employed professionals, and businesses. Our team ensures:

Your tax return is accurate and filed on time.
You claim all eligible tax reliefs and deductions.
You avoid penalties and HMRC inquiries.