Filing tax returns is a complicated and time-consuming task that all business owners had to endure. The complexity of tax returns increases when you consider than any missteps during the filing process can result in serious penalties. Therefore, it is a particularly clever idea to outsource your tax return filings to an online accounting firm. Tax preparation services such as FBS Accountants can help you with tax preparation and offer you advice on smart ways you can minimize your annual tax bills.

Importance of Tax Returns

By law, you are required to pay taxes, whether you are self-employed or are a director of a company. All your tax filings must be reported to HMRC whilst you have a business within the UK. There are heavy penalties for missing and filing incorrectly. There are also cases in where the HMRC will not be satisfied with the information you have provided regarding your taxation. This will lead to an investigation being set up against your business. If HMRC find out that there are some sources that you have left out, you can be charged with fraud.

How FBS Accountants assists you

As earlier mentioned, working with professional accountants can save you all the stress associated with tax preparation and filing. At FBS Accountants, we will make tax preparation easy for you by handling your bookkeeping services. In this case, we ensure that all your financial records such as bank statements and receipts are stored I one place. This makes it easy to access them when filing your returns.

We also ensure that all records are updated and show the correct figures to avoid mistakes when filing your returns. Our record organization ensures that your tax files are not only accurate but are also filed in a timely manner as there will be no more searching through manual files and spreadsheets trying to trace documents.

Once you hire, we assure that we will always be there to answer any questions that you may have concerning your books and taxes. We will also work closely with you in reviewing your financial documents and help you find ways that you can minimize your expenses. As your accountants, we take it as our responsibility to help you maximize profits and minimize expenses. When preparing your returns, we make sure we use all your paperwork to avoid leaving out any necessary information that might result in penalties. Using the documents also helps us determine whether you qualify for tax deductions, rebates, or refund.

While it is our responsibility to help you save as much money as possible, we also take the responsibility of precision when filing your returns very seriously. We avoid any unethical practices such as advising you file empty tax returns. Once we are done with preparing your returns, we always bring them to you for review.

You have the freedom to ask for clarification on any calculations that you may not understand. You are only obligated to sign after you are comfortable that the information contained in the files is correct. To give you ample time to go through the files, we always prepare your tax returns in a timely manner and forward them to you early in advance before the deadlines.

FBS Accountants help you with the following tax preparation services:

• Preparation of your annual tax returns
• Calculating your tax liability
• Submitting your tax returns on time
• Claiming any tax relief that you have
• Offer you planning advise that may help minimize your tax returns
• Preparation and filing of your corporate tax file
• Handling all your tax office matters
• Maintaining your tax records

Ensure that your tax records follow the law.