Although there are some people who seem to always have their tax return data up to date and ready to be filed when the time comes round, many of us have a mad dash to find all the relevant pieces of paper and find ourselves surrounded by piles of receipts, bills, invoices and bank statements very near to the deadline date.
There seems to be something about filing a tax return that makes even the most level-headed people put it off until the last moment, which is why there are always stories of the online systems buckling under the weight of deadline day submissions and also so many people who needlessly subject themselves to late filing fines.
There have also been ongoing news stories over the past year concerning high profile public figures who have been outed as using various schemes to avoid paying tax. As long as you are acting within the law, most people want to make sure they are not paying more tax than they are legally obliged to, but the flipside is that many of us feel that going to great lengths to use complicated schemes specifically to avoid paying higher rate tax can be morally questionable.
Of course there is also a major distinction between the terms ‘avoiding’ and ‘evading’ tax, with the former being illegal and the latter, at most, morally objectionable. Whatever your stance on the matter, everybody would agree that it is plainly ridiculous to actually fall into the trap of having to pay a fine for the simple act of having filed your return past the deadline when there are easy and straightforward ways you can ensure you are always ready on time.
When it comes to tax liability it is often the case that any benefits gained in claiming our rightful allowance can often be swallowed up by accountancy fees, but without the help of specialists it is often difficult to navigate the various tax breaks available and to know how to best submit details.
The way that money can be saved is by cutting down on accountancy ‘man hours’ that are billed and this is easily done by providing your accountant with all the relevant details in a form in which they can work on straight away without having to trawl through everything to make it presentable.
Today there are some great online accounting services available from the likes of Sage One, which can save you money whilst also giving you greater control over your day-to-day bookkeeping. This process need not be daunting when you make use of simple-to-use software with easy-to-navigate unctionality.
The benefits of using online accounts packages are manifold and essentially mean that your accounting work is no longer tied to your office desktop computer. Indeed a laptop, tablet or smartphone can be used to access all your information 24/7 from wherever you happen to be, giving full flexibility and total control.