INSUBCONTINENT EXCLUSIVE:
Taxes are said to be one of only two certainties in life, besides death, so if you're going to have to pay your dues then it's well worth
getting a software program to help.Fortunately, there are now a number of top-quality packages out there ready to take the stress and
(or enjoying spending your hard-earned cash rather than filing tax returns).These are the five programs we think impress the most in terms
of UK-compatible tax management, but which one suits you best will vary depending on the size of your business, how much automation you
accounting process, in partnership with an accountant, or you might just want a program that simply organises and files the records you've
FreeagentTax and much more besidesKnow what you owe at all timesEasy to use for you and your accountantLacks some advanced optionsAs we said
in the intro, you can get tax software that simply collates all the records you've already got and sends them off to HMRC
is a powerful, comprehensive option that suits small to medium businesses or individuals with a lot of records to keep
You can either opt to manage everything yourself or grant your accountant access to Freeagent as well, with the software able to make life
easier for both of you along the way.It's certainly one of the most modern tools here, with a slick and stylish interface on the web and
mobile, and a pile of useful features: automatic bank feeds, project time tracking, support for invoices and payroll, and so on.For tax
management specifically, Freeagent keeps records of everything as you go, so you know exactly what you owe and why at the end of the year
You can submit your returns directly to HMRC through Freeagent with just a few clicks of the mouse, with tax forecasting and real-time
GoSimpleTaxSmart, modern tax filing softwareSimple interface anyone can useTips on how to make tax savingsDoesn't offer other accounting
getting your taxes in order, and it does a very good job of this
Depending on your setup though, you'll have to do more work or get extra software to handle all the other components like invoicing and
payroll.The software takes you step-by-step through the process of filing your taxes, making sure you're using the right terms and preparing
the right forms, and looking out for any errors that might be creeping in (which could really cost you)
You'll also get suggestions on where you could make some savings, which is always welcome.Everything slots in neatly with the online HMRC
interface, so you don't have to waste time jumping from one app to another
As well as the web interface, you've got mobile apps you can use to input figures and get a handle on how your tax burden is looking (the
mobile apps can even scan in receipts).What we like most about the software though is that you don't really need any expertise to complete a
self-assessment of your tax responsibilities
As much as possible, the interface is written in jargon-free language, with clear indicators for where you need to input figures and how
TaxCalcFiling taxes doesn't get much simplerIntegrated error checking measuresHelp available at every stageNo mobile appsTaxCalc is on a
mission to make filing your taxes as simple as possible, and we'd say it's doing a pretty impressive job of it: the software is packed with
useful features for getting your documentation in order, and the system is officially recognised by HMRC, so all submissions should go
smoothly.Whether you're an individual, a limited company or an accountancy firm, TaxCalc has a software solution tailored specifically for
you, and it can even plug straight into bigger accounting packages such as Xero
In some cases you can get your documentation in order in as little as 30 minutes, TaxCalc claims.The intuitive, step-by-step web interface
about how much you've earned, to submitting the form and making sure there are no errors
The tax you owe is calculated in the background as you go.This isn't the most comprehensive or the most well-designed tax software we've
ever come across, but it is friendly, functional and accessible, and comes with all the tools you're going to need to hit that tax
NomismaAn intuitive tax filing workflowClean and modern interfaceOptional bookkeeping moduleNot as polished as some rivalsNo one wants to
spend an age getting their tax affairs in order, and few products take you through the process of filing returns as quickly and as simply as
It also gives you a variety of basic bookkeeping tools, so if you're looking for something that does more than just taxes, Nomisma might be
it.On the business management side, the software lets you track invoices and orders, keep on top of bills and contracts, and produce a
variety of reports on the state of your financial affairs (including VAT comparisons where needed)
Not only can it save you time, it can save you money by letting you know where everything is at any given point.In the tax filing and
self-assessment components, you'll find the software is fully HMRC compliant and registered with the government, so you can submit your
documents without leaving Nomisma
A lot of the data you're going to need can be auto-populated from the bookkeeping module, but you can buy the tax module separately if
needed.Throughout, Nomisma gives you a clean and modern-looking interface to work with on the web, and if you've got a mobile phone there's
an app available for keeping tabs on expenses while on the go
It can also help your accountant calculate the figures at the end of the year, if you've got one.5
ABC Self-AssessmentGet the basics for a low costEasier than the HMRC websiteSimple form-filling helpFew automated featuresAs we said at the
outset, tax software packages come in all shapes and sizes, from very basic tools to get you over the line right at the end of the process,
to fully fledged accounting suites that include everything you need to run a small business
If you just want some straightforward help as tax deadline day approaches, give ABC Self-Assessment a try.Whether you're submitting your
one you'll get if you log into the HMRC website and do your self-assessment there, it does streamline the process so you only see the
questions and fields that are relevant to your circumstances
It's perfect if you don't want to spend much money but find the HMRC site a little overwhelming.What you don't get are any accountancy or
bookkeeping features, so the onus is on you to have kept decent records up until this point
You might find that ABC Self-Assessment works well with your existing financial software (or just your existing Excel
spreadsheet).hKFCNPziGEKUMeHTNwjsL3.jpg#
