Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

According to an annual poll carried out by YouGov and uSwitch, HM Revenue & Customs is the worst offenders when it comes to accuracy of bills. Almost six million Pay As You Earn taxpayers paid the wrong amount of tax, either paying too much or too little. For the taxpayers that were owed a repayment of tax, this wasn’t quite as bad as for the taxpayers who received calculations demanding money owed to HMRC.

Until 2007, energy companies were always voted as the worst culprits when it came to bill accuracy, but vast improvements to the billing system have been made. Other companies who were nominated for bill inaccuracies include water companies, credit card companies and council tax departments. Inaccurate bills can result in consumers struggling to find money that they just don’t have, while taking valuable time to sort out the errors made by large organisations.

For small businesses dealing with HMRC, it can be notoriously difficult to sort out errors in your tax bill. A reputable online accountancy will enable you to submit your self assessment tax return and accounts based on real time information, within the relevant deadlines. A small business accountancy will also deal with HMRC on your behalf, with their knowledge of relevant legislation being advantageous.

For many small businesses, checking their annual tax bill or calculating accurate payments on account is a time consuming exercise which results in the figures provided by HMRC being accepted without question. Outsourcing to a reputable accountants will guarantee that you pay the correct amount of tax each year, without fear of receiving an unexpected tax bill.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More

Succession Planning for Business Owners: What Comes Next?

When you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.