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Self Assessments

The Legislation

Where tax is  automatically deducted from wages for people that are employed, self employed individuals, sole trader businesses & partnerships will need to report their income and expenses to HM Revenue & Customs in the form of a tax return.

A Self Assessment tax return must be completed if, in the latest tax year (6th April to 5th April) you were:

  • Self-employed as a ‘sole trader’ and earned more than £1,000

  • A partner in a business partnership

You will not usually need to send a Self Assessment return if your only income is from only wages or a pension but you may need to send one if you have any other untaxed income, such as:

  • Rental income of more than £2,500

  • Dividends over £10,000

  • Interest from savings over £10,000 excluding ISA's

  • Foreign income

  • Other sources of untaxed income over £2,500

Note: Self Assessments (with income over 10k) are due to join the Making Tax Digital scheme from April 2023. See Making Tax Digital.

How can we help?

We know filing a Self Assessment tax return can be a complex and tiresome process, we can help you with the following:

  • Complete your Self Assessment tax return

  • Calculate your tax liability

  • File your Self Assessment online

  • Help you claim any monies overpaid

  • Claim Rebates (see CIS Subcontractors)

  • See what tax savings can be made

  • Explore possibilities of deferring tax payments and organising payment plans

  • Minimise the risk of an HMRC enquiry

  • Preparing for Making Tax Digital (MTD)

Our pricing is generally fixed with variations on price being dependant on the amount of bookkeeping (invoice/ receipt etc calculation) required.