Any individual taxpayer, who is issued with a tax return by HM Revenue & Customs, can, of course, choose to complete it him or herself, but it is my view that having been put under an obligation to submit a tax return, you owe it to yourself, not to fudge it, or get it out of the way, but to make a good job of it.
Being prudent in this way could save you worry, time and money, your money.
It follows, that if your tax affairs are complex, with different sources of aggregated income, possibly from self- employment, or as a director/shareholder, from property income, an internet sales side line, or you have profited substantially from disposing of a chargeable asset etc; then dealing with the matter on a DIY basis can be somewhat foolish.
Once through to the other side on income, the taxpayer is faced with a myriad of other choices, allowable and disallowable business expenditure, basis periods, capital allowances, reliefs, elections and indexations, to contemplate.
The goal posts are constantly moving in terms of annual government budgets, changes in regulation, and evolving case law.
I have a professional responsibility to keep abreast of such ongoing changes, although notwithstanding, one can’t keep it all on board, and at all times, and where specialist advice is warranted, I shall endeavour to be clear and honest to that effect.
However, whereas a GP is a good place to start in diagnosing and resolving a medical issue, then I consider, knocking at my door, extends the analogy to personal taxation.
You decide.
