SELF ASSESSMENT (INCOME TAX)
As chartered accountants with many years’ experience helping small businesses, we can;
calculate your personal tax liability;
make all necessary filings with HMRC;
advise on allowable deductions to reduce your tax bill;
provide tax payment advice;
ensure your returns are 100% compliant with HRMC, and;
manage/liaise with HMRC on your behalf
What are the requirements?
If you are self-employed, you will need to submit a personal tax return (form: SA100) each fiscal year.
WORRIED ABOUT SUBMITTING AN INACCURATE TAX RETURN?
Failure to accurately calculate your income tax or submit an accurate tax return can carry penalties and interest for underpaid tax – these can be levied on individuals who either:
1) Submit inaccurate tax returns
2) File their returns late
If you are concerned about getting your tax return
right, then speak with us today.
You can find more information on penalties at the HMRC website, at their penalties section.
The vast majority of Self-assessment tax returns are filed electronically, for which the deadline is 31 January (c. 10 months following the end of the tax year, on 5 April).
It is important to get your personal tax return right – not least to ensure that you are claiming all relevant deductions, and effectively mitigating your tax liability.
Completing your Self-assessment tax return is not just about getting the numbers right…
… it is about ensuring adequate tax planning, and considering future tax law changes, to minimise your bill going forward.
FILING DEADLINES TIMELINE
c. 7 months after end of tax year
'Paper filing' deadline
5 April (end of tax year)
c. 10 months after end of tax year
'Electronic filing' deadline
Click here to see a list of information relevant information which you may need to include in your Self Assessment tax return.
Unsure what costs you can deduct
in your tax return
Want to know how to minimise
your tax bill
Whatever your needs, get in touch with
us today and we'd be happy to help
Full Accounting Services starting from
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