Friday, July 23News For London

Tax expert says that tax responsibilities are about to be easier.


The complexity of tax calculation. Credit: Pixabay.

Guy Bridger, with 20 years experience as a tax advisor, agrees to introduce a series of improvement using online technologies that allow self-employers to pay taxes with a mouse-click.

10 million people who have small businesses and or self employers every year have to book either an accountant or do a self calculation to know how much tax they have to pay.

The technology used to declare the taxable income is called self -assessment. It is used annually at the moment. However, the Chancellor, George Osborne, said that in the future it may be used quarterly.

Guy Bridger, with a background of 20 years helping people calculate how much tax to pay agrees with government’s decision.

The idea is to create a level playing filed and they are introducing a series of improvements using technology so that people can pay tax as they go when they need to calculate.

“Pay as you earn will be aligned with the new self-assessment system so all people will be able to pay taxes as they go,” Mr Bridger said.

But he also adds: “The steps announced will be for over 10 million to file regularly and later this will be merged into a personal tax account for all workers paying tax on time and at the press of a button. This will particularly help those who have to calculate their own liabilities and pay tax themselves.”

Journalist, Stephen Glover on Mail Online questions whether self-employer will have to pay the taxman every three months when they do their return.

Furthermore, the other fear is about those who don’t feel comfortable to do their return online, therefore they will be forced to employ an accountant every three months.

Although this scepticism, Mr Bridger and his team are very excited for this new perspective on tax responsibilities.

“I have to pay taxes so I understand how much is involved. My team at Taxfile help so many people sort out their mess, we are excited the government are serious about making it easier to keep up with tax responsibilities for working people in the economy creating a level playing field for all workers.”