What Is A Self-Assessment Tax Return?
The Self-Assessment Tax Return is an annual requirement & can apply to anyone that doesn’t pay tax at source. It’s purpose is to summarise your income from all sources & calculates the amount of tax due. Whether your income is PAYE, self-employed, directorship, landlord or investments, it all needs to be accounted for & taxed correctly. You have to do this by a certain deadline each year otherwise you may face a late submission penalty from HMRC. HMRC give two deadlines to file your tax return;
31st October – Paper submission
31st January – Online submission
How Do You Know If Its Applicable To You?
It is an annual requirement for people who do not pay their tax through PAYE. So, if you are self-employed, a Director, a Partner, a Landlord, a Trustee, have investment income or you are registered with CIS, you will have to file an annual tax return to HMRC declaring the amount of income you’ve earned.
How Can We Help?
We can take away the annual stress by completing your self-assessment tax return for you. Ensuring it is completed correctly & on time, avoiding those hefty penalties. You can be assured that your tax bill will be correct with all appropriate allowances claimed.
What Do We Do?
In order to submit your self-assessment tax return, we need to understand your financial situation. Once we understand your financial situation, we will then request the information we require to complete your self-assessment tax return. We also look at your personal situation to see if there are any other allowances, we may be able to take advantage of.
How Would You Benefit From Our Service & Why Choose Us?
We are experienced accountants with the knowledge to make sure your tax bill is as low as possible. When the time comes to get your self assessment tax return submitted, we will be there to give you unlimited advice & any support you need along the way. We will ensure your tax return is accurate, as well as submitted on time, to avoid penalties from HMRC.
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Find Out More
To find out more about our Self Assessment Tax Return service, please get in touch with the team below.
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