Money and tax

Budgets, tax returns, investing and financial decisions.

• Can you use AI to do my taxes?Verdict: Yes, with careYes, with care. AI can explain HMRC wording, sort your records and prepare questions. You stay responsible for every figure on your Self Assessment return, so check it all yourself.
• Can you use AI to invest in stocks?Verdict: Yes, with careYes, with care. AI is useful for learning and research if you check its answers. Advice from a general chatbot has no FSCS or FOS protection, and 'AI trading' firms are a common scam.
• Can you use AI to predict lottery numbers?Verdict: NoNo. Lottery draws are random, so no AI or app can predict them. An AI can pick numbers for you, which is the same as a Lucky Dip. 'Hot' or 'due' numbers are patterns in noise.
• Can you use AI to make money?Verdict: Yes, with careYes, with care. AI can help you do paid work faster, such as writing, websites or video, if you check what it makes. Schemes promising easy 'AI money' are where people lose it.
• Can you use AI to do my bookkeeping?Verdict: Yes, with careYes, with care. Software and AI can categorise transactions and read receipts, but HMRC holds you responsible for accurate records, and Making Tax Digital requires compatible software.