Tax Software

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  • Tax Software

    I have one rental property which has been let out for several years. I am also in full time employment.

    For the last few years, I have used an accountant to file my tax returns but I am now considering using some off the shelf software.

    Can any one reccommend any tax return software. My requirements are fairly simple, entry of employment income, rental income & expenses etc.

    My other concern is that the accountant is registered with the tax office to make returns on my behalf. If I now make my own returns will there be an issue with previous returns made by the accountant?

    Given the accountant costs £200 + vat, for making a simple return, it seems to me buying my own software would be a cheaper option. But I am slightly worried I may loose out from not having the accountants advise.

    All info welcome.

  • #2
    There is also the possiblity that the IR are more likely to take his word rather than just yours. The last thing I would want is the IR breathing down my neck. But then perhaps I'm paranoid.
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    • #3
      There is also the possiblity that the IR are more likely to take his word rather than just yours. The last thing I would want is the IR breathing down my neck. But then perhaps I'm paranoid
      That is exactly my concern, is it better to employ an accountant for £200 or try to do it myself?

      All info welcome

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      • #4
        http://www.taxcalc.com

        I have used this software for the past 3-4 years (new version each year)
        Worked out my figures with software, and got an accountant to do it- just in case.

        Difference in overall figure at end ? £40

        So it cost me £24.99 for software and £350 for accountant.

        last year the accountant sent form in electronically, but you can register on line at hmrc site and do it through their website (free)

        an accountant has professional knowlege, but if your tax affairs are very simple (i am a sole trader) then it is a balance to see if the extra expense is justified

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        • #5
          Ive had a look at the tax calc software and it looks quite good for £25.

          Still deciding on whether to drop the accountant or not.

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          • #6
            Originally posted by baldelectrician View Post
            http://www.taxcalc.com

            I have used this software for the past 3-4 years (new version each year)

            [...]

            last year the accountant sent form in electronically, but you can register on line at hmrc site and do it through their website (free)
            I've used the online self-assessment thingy in the past myself, found it very straightforward. What does TaxCalc do for you that the IR's online system doesn't?

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