6 great reasons to use Self Assessment tax return software

Each year, more than 12.2m Self Assessment tax returns are filed in the UK and your’s could be among them. Overwhelmingly, people fill in and file their Self Assessment tax returns online, with about 95.6% choosing…

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Last Updated: 9th September 2022   |   Created: 9th September 2022

Each year, more than 12.2m Self Assessment tax returns are filed in the UK and your’s could be among them. Overwhelmingly, people fill in and file their Self Assessment tax returns online, with about 95.6% choosing this option, with only 4.4% completing paper tax returns and sending them by post to HMRC.

Many who file online each year do so via government website GOV.uk. However, an increasing number of sole traders, landlords and others use Self Assessment tax return software. So, why might you choose to use Self Assessment tax return software?  

1. Self Assessment tax return software can save you lots of  time

Let’s face it, there’s probably a very long list of things you would much rather be doing than filling out your Self Assessment tax return. Your time is precious, so you want to get it done as quickly and painlessly as possible.

Filling out a paper Self Assessment tax return by hand could take many, many hours, and lots of people usually do it in sessions over a few days (or even weeks). You must tot up all of your taxable income and any costs you wish to claim as allowable expenses. You must know what reliefs and allowances you can claim and enter all of the necessary information in the right places. Doing it all manually is a bit of a slog, really.

If you use accounting software and fill in your Self Assessment tax return via government/HMRC website GOV.uk, you’ll get the job done quicker. But if you really want to save time, use Self Assessment tax return software. The best Self Assessment tax return software provides time-saving shortcuts, quickly guiding you through the parts of the Self Assessment tax return that are relevant to you. Your taxable income and costs are automatically calculated from the figures you’ve entered, which saves you a massive amount of time.    

2. Self Assessment tax return software can prevent basic mistakes

It can be easy to make mistakes when completing a Self Assessment tax return, which can cost you lots of time and money. That’s less likely if you use Self Assessment tax return software, which is designed to prevent basic errors. Prompts are generated if it looks like you’ve got something wrong, enabling you to quickly correct any mistakes in your Self Assessment tax return.  

3. Self Assessment tax return software is remarkably easy to use

You don’t need bags of experience or tax know-how if you use Self Assessment tax return software. It’s designed with the user in mind, users with very limited tax and Self Assessment tax return knowledge, so it’s very user-friendly. One of the reasons why Self Assessment tax return software saves you so much time is that it’s so easy and intuitive to use.

4. Self Assessment tax return software can keep your expenses organised

Self Assessment tax return software enables you to scan/photograph till receipts seconds after you’re given them (so losing them doesn’t matter). These are then stored digitally, itemised in categories and accounted for in your accounts and tax returns. No longer do you need to wade through envelopes or bags brimming with sales receipts when you’re working out your allowable expenses claim. Moreover, you may also be better able to understand your spending, which could help you to reduce your costs.

5. Self Assessment tax return software offer you other benefits

Being able to have a reliable estimate of your income, costs and how much tax you owe can better enable you to put aside enough money to pay your tax bill when due. This spares you the shock of receiving a tax bill that’s much higher than expected and worrying how you’re going to pay it. Self Assessment tax return software can also tell you about tax reductions you’re eligible for.

Some self Assessment tax return software also comes with free invoicing functionality, giving you a quick and reliable way of sending digital invoices to your customers as soon as possible, which can help to keep your cash flow healthy. These are automatically accounted for within the Self Assessment tax return software, once more saving you time and effort.

6. Self Assessment tax return software is highly affordable

Self Assessment tax return software could be much cheaper than you expect. If you currently pay an accountant to complete and file your tax return for you, using Self Assessment tax return software instead could offer you a saving that’s not to be sniffed at. Leading Self Assessment tax return software also comes with comprehensive customer support that you can access if you ever get stuck.

Instead of asking yourself why you should use Self Assessment tax return software, with so many excellent benefits available, the real question should be – why aren’t you already using it? 

GoSimpleTax is award-winning software that offers you an easier way to complete and file your UK Self Assessment tax return. Start your free trial now.

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Blog content is for information purposes and over time may become outdated, although we do strive to keep it current. It's written to help you understand your Tax's and is not to be relied upon as professional accounting, tax and legal advice due to differences in everyone's circumstances. For additional help please contact our support team or HMRC.

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