why not accountant

[asalih]

Hello everyone,

I like to know why not everyone use an accountant! if the accountant fees is tax deductable then why cause yourself a hardship of filing your tax return yourself, and why shop around for cheap dodgy accountants.

[mrmeds]

because tax deductable means you don't pay tax on the amount you spend on the accountant, you don't get the money knocked off your tax bill. ie accountant costs you £300, then you don't get taxed on that £300, reducing your tax bill by say £60 if you are in the 20 % tax bracket. Si it still costs you £240.