If you're filling in a Self Assessment tax return for the first time, or you've been doing it yourself for years and you're starting to wonder whether it's worth the hassle, you're not alone.
It's one of the questions we're most often asked by clients across Bath, Radstock and Midsomer Norton, and the honest answer is: it depends on your situation.
We take a look at what self-assessment involves, whether it can be done yourself or whether you are better off employing the services of a local accountant to help.
What Self Assessment Actually Involves
Self Assessment is the system HMRC uses to collect Income Tax from people whose tax isn't automatically deducted at source. That includes sole traders, partners in a business partnership, landlords with rental income, company directors, and anyone with significant income from dividends, savings, or investments.
Each year, you need to register with HMRC if it's your first time, gather all your income and expense information, complete the return online or on paper, and pay any tax owed by 31 January following the end of the tax year. It sounds straightforward when written out like that, but in practice, it can be far more time-consuming and confusing than it first appears.
Can You Do It Yourself?
Yes, and plenty of people do. In fact, HMRC estimates that 28% of business taxpayers don’t use agents at present, although that figure is starting to fall as complexity increases. If your tax affairs are simple, for example, you're a sole trader with one source of income, straightforward expenses, and good record-keeping habits, then completing your own Self Assessment return is entirely possible. HMRC's online system is reasonably user-friendly, and there's a lot of free guidance available.
The trouble is that most people's finances aren't quite that simple, and the cost of getting it wrong can be considerably higher than the cost of getting help in the first place.
“In fact, HMRC estimates that 28% of business taxpayers don’t use agents at present, although that figure is starting to fall as complexity increases”.
When an Accountant Makes a Real Difference
You Have More Than One Source of Income
Many of our clients in and around Bath and Midsomer Norton aren't just sole traders. They might run a small business alongside a part-time job, receive rental income from a property, or have a mix of dividends, freelance work and pension income. Each income type has its own rules about what can be deducted and how it's taxed, and mixing them up is one of the most common ways people end up paying more tax than they need to, or less than they should, which creates its own set of problems.
You're Not Sure What You Can Claim
Allowable expenses are one of the biggest areas where self-filers either overclaim, which risks a problem with HMRC further down the line, or underclaim, which means handing over more tax than necessary. Things like use of home as office, vehicle costs, and capital allowances on equipment all have specific rules, and getting them right takes a working knowledge of how HMRC actually views them in practice, not just the headline guidance.
Your Time Is Worth More Doing Something Else
Even for people with relatively simple affairs, Self Assessment can take many hours once you include gathering paperwork, working through the online system, and double-checking figures before submission. For a business owner, those hours are often better spent serving clients or growing the business than wrestling with a tax return once a year.
You Want Peace of Mind, Not Just a Submitted Form
A return that's technically submitted on time isn't the same as a return that's accurate and optimised. An accountant doesn't just fill in boxes; they look at your wider financial picture and flag things you might have missed, whether that's a pension contribution that could reduce your tax bill, or an allowance you didn't realise you were entitled to.
The Cost of Getting It Wrong
HMRC penalties for late or incorrect Self Assessment returns can add up quickly. Miss the 31 January deadline, and you face an immediate £100 fine, even if you owe no tax at all, with further penalties accruing the longer the return remains outstanding. Errors on a submitted return, whether from a misunderstood rule or a simple miscalculation, can also trigger an HMRC enquiry, which is stressful and time-consuming to resolve even when you've done nothing wrong on purpose.
Against that backdrop, the fee for professional help often pays for itself, both in taxes saved and in problems avoided.
Making Tax Digital Changes the Picture Too
From April 2026, Making Tax Digital for Income Tax has started bringing sole traders and landlords with gross income over £50,000 into a new quarterly reporting system, with lower thresholds following in the years after. This is a significant change from the familiar once-a-year Self Assessment process, and it means choosing the right software, keeping digital records throughout the year, and submitting updates four times a year rather than once.
From April 2027 the gross income threshold falls to £30,000 and it falls again to £20,000 in April 2028. If you've managed your own Self Assessment comfortably until now, it's worth knowing that the rules are shifting under your feet, and what worked before may not be enough going forward.
Why a Local Accountant in Bath, Radstock or Midsomer Norton Makes Sense
There's a strong case for using an online-only or app-based service if your situation really is simple and you're comfortable with technology. But for most people, having a local accountant who knows the area, understands the kinds of businesses operating around Bath, Radstock and Midsomer Norton, and is happy to sit down face to face when something needs explaining properly, makes the whole process far less stressful.
At PG Owen, we work with sole traders, landlords and small business owners across Bath, Radstock, Midsomer Norton and the wider area, and we explain things in plain English rather than tax jargon. Whether you've never filed a return before or you're looking to hand over a job you've outgrown, we can talk you through what's involved and what it would cost.
So, Do You Need an Accountant?
If your income is straightforward, you understand the rules that apply to you, and you're confident using HMRC's online system, you may well manage perfectly well on your own. But if you have multiple income sources, you're unsure what you can claim, you'd rather spend your time elsewhere, or you simply want the reassurance that everything has been done correctly, an accountant is very likely to be worth the investment.
If you'd like to talk through your own situation, get in touch with our team in Bath, Midsomer Norton or Warminster. Your first conversation is always free, and there's never any obligation.