Make Self Assessment faster than ever before
It's that time of year again, and the pressure is on. As you’re racing through clients’ tax returns, you’ll likely encounter some bumps in the road. From HMRC's website crashing, to submission errors, it can feel like a stumble instead of a sprint to the finish line. However, there are some simple tweaks you can implement to fly through your clients’ Self Assessments faster than ever before. Let’s go through our top three improvements you need to get through those tax returns at lightning speed.
Pull data straight from HMRC
Rather than manually entering data into HMRC, use a tool that can pull data straight from HMRC. That way, you can complete some parts of clients’ tax returns by populating data automatically. This not only saves you valuable time but also mitigates the potential for errors that may occur when manually inputting figures into different systems.
For example, in our own tax software for accountants, BrightTax, there we have integration with bookkeeping software providers like Xero, Sage and QuickBooks. In addition, it’s integration with HMRC lets you automatically pull P60 information into your Self Assessment Tax Returns – once HMRC has this information in the first place.
Efficient online filing to HMRC
When the system you use has direct integration with HMRC, you can have accurate, approved and completed Self Assessments in just a few clicks. If it lets you prepare Individual (SA100), Partnership (SA800) and Trust (SA900) tax returns, all the better. That way, you have peace of mind knowing that your clients’ tax returns are taken care of.
For example, with BrightTax, you can prepare SA100, SA302, SA800 and SA900, including Scottish rates. There’s also an automatic link between Partners in the Individual Tax Return, Trust Tax Return and Partnership Tax Returns, which saves you time from processing the same data twice.
Use a user-friendly platform
Struggling to navigate HMRC's website? We've all been there. It can feel like a labyrinth of links at the best of times, and who needs another reason to have a headache at this time of the year? That’s why getting a user-friendly platform is vital for speeding up tax returns. When the software you use has an intuitive interface and simplistic design, filing on January 31st will be smoother than ever before.
Want to learn more?
Turns out tax season doesn’t have to be so taxing after all. To learn more about how you can best prepare for tax season, check out the recording of our latest webinar in the link below. Want to find out more about our tax and compliance software, BrightTax? Click the link below to find out more information.
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Bright was created in 2021 when Thesaurus Software Ltd. and Relate Software Ltd. decided to join forces. Bright is a leading provider of accounting, payroll, tax and HR solutions to businesses across the UK and Ireland. We help thousands of accountants, bookkeepers and small to mid-sized businesses become more productive and efficient with our...