Self Assessment Tax Return
We can assist you with all aspects of your Self Assesment tax requirements
IMPORTANT INFORMATION: HMRC Self-Assessment helpline closed until 4th September 2023.
Self Assessment tax is the system HMRC uses to collect income tax. The tax year runs from 6 April to 5 April the following year, and you are legally required to complete a tax return if in the last year tax year:-
- your income from self-employment was £1,000 or more
- you own land or property
- you have untaxed savings or investment income
- your dividend income from shares was over £10,000
- your income was over £100,000
Visit the HMRC website for further information on who must submit a tax return
We can help you calculate your allowable business expenses and claim any Capital Allowances you are entitled to so that you are paying the right amount of tax.
If you miss the deadline for submitting your tax return or paying your tax bill, you will receive a penalty. The deadline for submitting a paper return is 31st October following the end of the tax year, if you wish to file a paper return you will need to contact HMRC to get this sent out to you as these are no longer sent out automatically. The deadline for online returns is the 31st January following the end of the tax year. You must also pay any tax you owe from the previous tax year by 31st January. Visit this HMRC page for details of the deadlines.
Therefore, if you want to avoid a penalty and want to ensure you are paying the right amount of tax, let us help you.
Let us take the stress out of your self assessment tax return and help you plan, budget & save
We are professionally qualified to complete and submit your self assessment tax return.
For guidance on calculating, completing & filing your self assessment tax return, please contact us.