Registered Bookkeeper here!
I read this in the news this morning and my heart sank. I have not yet looked into it properly as I have been busy all day filing tax returns. I will look at it in depth in February when I get chance to breathe again.
From what I read though, it was written like the self employed person themselves would be doing this and therefore cutting out the accountant/bookkeeper. I believe the online software provided by HMRC will make this easier for Joe Bloggs to do it. It still doesn't help said Joe Bloggs work out what is tax deductible and what isn't though which is why my clients come to me in the first place.
If however, I am wrong in the above and it will still be the bookkeepers and the accountants doing the work then you may well find me gibbering in a corner when this happens. Right now, I literally have no idea how I will get so many returns filed. I do 15 Self Assessment returns a year (I am also self employed so make that 16). Trying to "encourage" my clients to get their paperwork to me in a timely manner is difficult at the best of times which is why December and January are my busiest months. I can't imagine having to file 16 tax returns every 3 months. When will I get time to do them? I also work 4 days a week at clients doing their books. It may be that I have to give the self assessments up and that would be horrible for my clients.
My first thought when I read the paper was "How are my clients going to pay for this?" and I thought, well, the income and expenditure part will be quartered each time, and that is the thing that takes the longest. I would consider halving my fee for a return if was feasible. It will still be more money for me overall but wouldn't be ripping my clients off. You may find OP that this is generally what happens with all the accountants.
But as Ta1kinPeace says, it probably won't happen. keeps fingers very firmly crossed