Tax Tips by video
Click the photo to view the video.
Part 1 The problems with DIY submissions to HMRC
A Liverpool woman tried to submit her own self-assessment tax return… and ended up LOSING over £3,000 in tax reliefs she was fully entitled to.
She thought she was saving money by doing it herself.
But by misunderstanding the Annual Investment Allowance (AIA) and missing out on allowable expenses, she paid far more tax than she should have.
No accountant. No advice. Just HMRC’s online system — and a few incorrect assumptions.
📉 She didn’t realise:
Capital equipment purchases like computers and tools could qualify for 100% AIA
Several work-from-home costs were tax deductible
Mileage wasn’t claimed properly
She didn’t even declare some of her costs correctly because she wasn’t sure they “counted”
By the time she came to us for a second opinion, HMRC had already accepted the return — and she’d overpaid by more than £3,000
Part 2 The problems with DIY submissions to HMRC
Think DIY self-assessments save you money? One Warrington business owner found out the hard way.
He submitted his tax return himself, trying to avoid paying accountant fees. A few months later, HMRC launched an enquiry — and it didn’t take long to uncover several issues:
❌ He missed legitimate expenses
❌ Claimed items HMRC flagged as personal
❌ Incorrectly handled his Annual Investment Allowance (AIA)
❌ No clear records to support the return
He ended up with a penalty, interest charges, and stress that no business owner needs — all for the sake of saving a small fee upfront.