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:
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Self-employed as a ‘sole trader’ and earned more than £1,000
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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:
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Rental income of more than £2,500
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Dividends over £10,000
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Interest from savings over £10,000 excluding ISA's
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Foreign income
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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:
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Complete your Self Assessment tax return
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Calculate your tax liability
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File your Self Assessment online
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Help you claim any monies overpaid
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Claim Rebates (see CIS Subcontractors)
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See what tax savings can be made
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Explore possibilities of deferring tax payments and organising payment plans
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Minimise the risk of an HMRC enquiry
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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.