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Self Assessment Tax Returns

 

What is a Self Assessment Tax Return?
You are legally required to complete and submit a Self Assessment Tax Return to HMRC if you are self-employed, a higher rate tax payer, a company director or have more complicated tax affairs. To find out if you need to complete a Self Assessment Return, please go to - http://www.hmrc.gov.uk/sa/need-tax-return.htm  
 
How and when do I give this in?
All documentation must be sent to The Local Bookkeeper team as soon as possible in order for us to comply with the strict deadlines.
 
6 April:             Issue of Self Assessment Returns by HMRC
 
31 October:     Deadline for the submission of paper returns
 
30 December:  If tax due is below £2,000 and you want this to be collected through your PAYE Tax Code your Tax     Return must be submitted by this date
 
31 January:      Final deadline for returns to be filed online
 
If you do not complete your return by the deadline and complete all relevant forms to declare you are self-employed or that you have any untaxed income, you will be charged interest and penalties.  
 
How does the service work?
Upon engagement, we will ask you to complete a questionnaire to understand your personal tax situation.
 
As a sole trader, we will produce your end of year accounts and complete your Tax Return.  Accounts are needed to enable an accurate Self Assessment Return to be made.  We will also compute your tax liability, file your return online with H M Revenue & Customs, advise you of your total tax liability and the date each payment is due.
 
The benefits

  • Hassle and stress-free service
  • Low cost and fixed fee 
  • We use simple and easy to understand English
  • Managed by a Chartered Accountant and a Chartered Tax Advisor
  • We will manage all your correspondences and answer your tax queries
  • Provide advice on being more tax effective