Government help with accountant’s fees?


In a way, yes!

 

Many people do not realise that accountancy fees are an allowable expense for the self-employed, and as such qualify for tax relief.

 

Taking our silver package as an example, the cost for this is £490 before tax relief.

 

For a basic rate taxpayer, the savings are significant:

 

1) 20% tax relief – £98

2) 9% national insurance relief – £44

Total tax & NI savings = £142, or almost a third off the total – bringing the net cost for the package down to only £348.

 

When you look at the significant fines that HMRC are now charging for late returns, combined with the tax relief available on accountant’s fees – getting help could actually cost you less than doing nothing, and you can also avoid all the worry as well.

 

 

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