OK, we get it. We often see people saying online that you can do your tax return and claim a refund yourself. And - full disclosure here – yes you can!
Depending on what line of work you’re in, doing a self-assessment tax return can be pretty straightforward. But that’s the kicker: it depends on what line of work you’re in.
For example, if you’re self-employed and don’t know what your allowances are for the industry you work in, it’s highly likely you’re overpaying tax.
The best example? The construction industry. Many of our self-employed customers work in the trades and have been overpaying for years. Our research found that 3 out of 4 people due a tax refund don’t even know it.
We also know that any trades worth their salt would advise against you tackling all but the most basic DIY jobs if you don’t have the skills. Tax is just the same and there are a few horror stories here if you don’t believe us!
As well as cautionary tales, that article also has a few happy endings.
Like the story of how we turned a £2,000 fine into a £12,000 refund, a £700 fine into a £8,416 refund, and a £10,000 debt into a £6,000 refund.
The bottom line? Always use the right tools for the job! That starts with this short guide to helping you make the right call on your tax return and refund…